Valuation Update With 7 Day Price Move • May 06
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to US$3.31, the stock trades at a trailing P/E ratio of 74.4x. Average trailing P/E is 48x in the Construction industry in the US. Total loss to shareholders of 71% over the past year. New Risk • May 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Revenue has declined by 4.1% over the past year. High level of non-cash earnings (29% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (US$65.1m market cap). Announcement • May 01
Cove Kaz Capital Group LLC entered into a transaction agreement to acquire Skyline Builders Group Holding Limited (NasdaqCM:SKBL). Cove Kaz Capital Group LLC entered into a transaction agreement to acquire Skyline Builders Group Holding Limited (NasdaqCM:SKBL) on April 30, 2026. The business combination, which will also include the acquisition of Kaz Critical Minerals LLP, the holder of 15 licenses in Kazakhstan. Upon completion of the business combination, the combined company plans to operate under the name “Kaz Resources Inc.” and trade on Nasdaq under the ticker symbol “KAZR”.
The transaction is subject to approval by regulatory board / committee, approval by the shareholders of Skyline Builders Group Holding Limited, third party approval needed, registration statement effectiveness(S-4 / F-4) and listing / approval of new shares on stock exchange. The deal has been approved by the board of directors of Skyline Builders Group Holding Limited and Cove Kaz Capital Group LLC. The transaction is expected to close in the fourth quarter of 2026 or early 2027.
Lawrence Venick of Loeb & Loeb LLP acted as legal advisor to Skyline Builders Group Holding Limited. O. Keith Hallam III and Morgan Hollins of White & Case LLP acted as legal advisor to Cove Kaz Capital Group LLC. Announcement • Mar 27
Skyline Builders Group Holding Limited announced that it has received $17.175 million in funding On March 25, 2026, Skyline Builders Group Holding Limited closed the transaction. the Company paid Dominari Securities LLC a cash fee equal to 8% ($1,326,000) of the aggregate gross proceeds of the Reg D Placement and Ocean Wall Wall Limited a cash fee equal to 8% ($48,000) of the aggregate gross proceeds of the Reg S Placement. The company also issued non-callable warrants (the “Placement Agent Warrants”) exercisable for a number of the Company’s Class A Ordinary Shares equal to eight percent (8%) and six percent (6%) of the Class A Ordinary Shares underlying the Notes and Preferred Shares on the closing date, respectively. The Placement Agent Warrants have an exercise price of $2.40 per share. The company paid expenses of Dominari’s legal counsel and other out-of-pocket expenses in an amount not to exceed $150,000. In connection with the closing of the Private Placements, each officer and director of the Company entered into a lock-up agreement (the “Lock-Up Agreement”), pursuant to which they agreed not to sell, transfer or otherwise dispose of any their Class A Ordinary Shares (or any securities convertible into, exercisable for, or exchangeable for Class A Ordinary Shares) for a period of one hundred eighty (180) days following the later of the closing date or effective date of the Registration Statement filed pursuant to the Registration Rights Agreement. Announcement • Mar 24
Skyline Builders Group Holding Limited announced that it expects to receive $16.575 million in funding Skyline Builders Group Holding Limited announced a brokered private placement to issue senior unsecured convertible notes for gross proceeds of $16,575,000 before deducting placement agent fees and other offering expenses payable by the company on March 23, 2026. Each note is convertible into class A ordinary shares, with a conversion price of $2.40 per share. Approximately $16,575,000.00 of notes were issued under a Regulation D offering to US based investors. The private Placement is expected to close on or about March 24, 2026, subject to the satisfaction of customary closing conditions. Valuation Update With 7 Day Price Move • Mar 05
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to US$2.73, the stock trades at a trailing P/E ratio of 53.7x. Average trailing P/E is 34x in the Construction industry in the US. Total loss to shareholders of 75% over the past year. New Risk • Feb 23
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended March 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.7x net interest cover). Revenue has declined by 5.8% over the past year. High level of non-cash earnings (33% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported March 2025 fiscal period end). Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (US$43.8m market cap). Announcement • Feb 12
Skyline Builders Group Holding Limited announced that it expects to receive $31.59 million in funding Skyline Builders Group Holding Limited announces a brokered private placement of 6,318 shares of preferred shares at a price of $5,000 per share for gross proceeds of $31,590,000 on February 11, 2026. Each preferred share is convertible into Class A ordinary shares with a conversion price of $2.40 per share. The Offering is expected to close on or about February 13, 2026, subject to the satisfaction of customary closing conditions. Securities are issued pursuant to Regulation D. As compensation for their services, the Company will pay the Placement Agents a aggregate cash fee equal to 8.0% of the aggregate gross proceeds of the Private Placement and non-callable warrants (the “Placement Agent Warrants”) exercisable for a number of the Company’s Class A Ordinary Shares equal to 6% of the Class A Ordinary Shares underlying the Preferred Shares on the closing date. Valuation Update With 7 Day Price Move • Jan 29
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to US$2.87, the stock trades at a trailing P/E ratio of 54.5x. Average trailing P/E is 36x in the Construction industry in the US. Total loss to shareholders of 43% over the past year. Valuation Update With 7 Day Price Move • Jan 09
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to US$3.66, the stock trades at a trailing P/E ratio of 69.5x. Average trailing P/E is 33x in the Construction industry in the US. Valuation Update With 7 Day Price Move • Dec 24
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to US$3.03, the stock trades at a trailing P/E ratio of 57.5x. Average trailing P/E is 32x in the Construction industry in the US. Announcement • Nov 13
Skyline Builders Group Holding Limited (NasdaqCM:SKBL) entered into a non-binding letter of intent to acquire Supercritical Technologies Corp. Skyline Builders Group Holding Limited (NasdaqCM:SKBL) entered into a non-binding letter of intent to acquire Supercritical Technologies Corp. on November 12, 2025. Announcement • Nov 08
Skyline Builders Group Holding Limited Appoints Paul Mann as Executive Chairman, Effective January 1, 2026 Skyline Builders Group Holding Limited announced that effective January 1, 2026, Paul E. Mann will become Executive Chairman of the Company. Mr. Mann has a 25-year career as an investor and entrepreneur. He is currently the Founder and Executive Chairman of ASP Isotopes Inc. and Chairman of Quantum Leap Energy, a wholly owned subsidiary of ASPI. Prior to becoming Executive Chairman of ASPI, he was the Chief Executive Officer of ASPI, during which time he built the company to a greater than $1 billion market cap company which now employs over 200 people globally, has constructed three isotope enrichment facilities in Africa and entered into multiple supply agreements with global companies for the supply of isotopes that will enable next generation semiconductors, healthcare and nuclear energy. He has spent more than 15 years as an investor working at institutions including Morgan Stanley, Soros Fund Management and Highbridge Capital Management. He is a U.K. citizen and graduated from Cambridge University with an MA and an MEng in Chemical Engineering, and he is a CFA Charterholder. In the Executive Chairman role, Mr. Mann will have the responsibility of working with the Company’s Chief Executive Officer and Board of Directors (the “Board”), for: the overall leadership and strategic direction of the Company; providing guidance and support to senior management of the Company; and the coordination of the activities of the Board. Announcement • Nov 04
Skyline Builders Group Holding Limited announced that it has received $23.885 million in funding On November 3, 2025, Skyline Builders Group Holding Limited closed the transaction. Announcement • Oct 29
Skyline Builders Group Holding Limited announced that it expects to receive $23.885 million in funding Skyline Builders Group Holding Limited announced that it has entered into a definitive securities purchase agreement with certain accredited investors in connection with best-effort private placement to issue 17,370,909 Class A ordinary shares at a price of $1.375 or pre-funded warrants to purchase class A ordinary shares at a price of $1.37499 and class A ordinary share purchase warrants to purchase up to 17,370,909 class A ordinary shares for gross proceeds of $23,885,000, before deducting placement agent fees and other offering expenses payable by the company on October 28, 2025. Each pre-funded warrant will be immediately exercisable upon issuance and will entitle the holder to acquire one class A ordinary share at an exercise price of $0.0001 per share. Each ordinary warrant will be immediately exercisable and will entitle the holder to acquire one class A ordinary share at an exercise price of $1.50 per share until the fifth anniversary of the date of issuance. The offering is expected to close on or about October 30, 2025, subject to the satisfaction of customary closing conditions. Announcement • Aug 28
Skyline Builders Group Holding Limited announced that it has received $17.775 million in funding Skyline Builders Group Holding Limited announces that it has entered into a definitive securities purchase agreement to issue 24,349,315 Class A Ordinary Shares at a price of $0.73 per share for gross proceeds of $17,774,999.95 and the Company’s Class A Ordinary Share Purchase Warrant Bs to purchase up to 24,349,315 Class A Ordinary Shares (the “B Warrants”) in a brokered private placement on a best-efforts basis on August 27, 2025. The private placement is expected to close on August 27, 2025 Announcement • Aug 01
Skyline Builders Group Holding Limited announced delayed 20-F filing On 07/31/2025, Skyline Builders Group Holding Limited announced that they will be unable to file their next 20-F by the deadline required by the SEC. Valuation Update With 7 Day Price Move • Jul 18
Investor sentiment improves as stock rises 33% After last week's 33% share price gain to US$1.99, the stock trades at a trailing P/E ratio of 63.9x. Average trailing P/E is 33x in the Construction industry in the US. New Risk • Jul 07
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: US$46.5m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.2x net interest cover). Share price has been highly volatile over the past 3 months (27% average weekly change). High level of non-cash earnings (26% accrual ratio). Minor Risk Market cap is less than US$100m (US$46.5m market cap). Board Change • Mar 31
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. CEO & Chairman of the Board Ngo Chiu Lam is the most experienced director on the board, commencing their role in 2024. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 12
First half 2025 earnings released First half 2025 results: EPS: US$0.019. Net income: US$529.9k (up US$529.9k from 1H 2024). Announcement • Jan 29
Skyline Builders Group Holding Limited(NasdaqCM:) dropped from NASDAQ Composite Index Skyline Builders Group Holding Limited has been added in the NASDAQ Composite Index 
