Skyworth Group Limited (Skyworth Group) released its latest monthly progress update on 17 July 2026 regarding the multi-step transaction that would see the company privatise via a pre-conditional share buy-back scheme of arrangement, distribute its entire stake in Skyworth Photovoltaic Technology Co., Ltd. (Skyworth Photovoltaic) to shareholders, implement a rollover arrangement for certain shareholders and subsequently withdraw its listing from the Stock Exchange of Hong Kong.

Key developments • Pre-Condition (a) – shareholder approvals at Skyworth Photovoltaic for both the share distribution and its standalone listing – has been met. • Pre-Condition (b) remains outstanding. This condition requires: – China Securities Regulatory Commission filing clearance for the proposed A-share listing of Skyworth Photovoltaic; – approval-in-principle from the Hong Kong Stock Exchange; and – any other necessary regulatory approvals or filings. Skyworth Photovoltaic and its advisers are finalising the application and related documents for submission “in due course.”

Next steps The overall proposal will proceed only after all pre-conditions and scheme conditions—including approval of the rollover arrangement under Rule 25 of the Takeovers Code—have been satisfied or, where permissible, waived. The board reiterated that there is no certainty the share buy-back scheme, the distribution or the delisting will become effective.

Governance and disclosure The board, comprising five executive and three independent non-executive directors, accepts full responsibility for the accuracy of the information in the announcement. Further updates on the scheme document despatch and any material progress will be published in accordance with Hong Kong Listing Rules and the Takeovers Code.

Investor caution Given the outstanding regulatory approvals, shareholders and potential investors are advised to exercise caution when dealing in Skyworth Group securities until definitive confirmation of the proposal’s implementation is announced.