特许通讯 2024年度报告

SECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549______________ (Mark One)☐ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934For the fiscal year ended December 31, 2024or☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934 Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes x No o Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes o No x Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file suchreports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No o Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted andposted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter periodthat the registrant was required to submit and post such files). Yes x No o Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smallerreporting company. See definition of “large accelerated filer,” “accelerated filer,” and “smaller reporting company” in Rule 12b-2 ofthe Exchange Act.: Accelerated filer oNon-accelerated filer oSmaller reporting company☐Emerging growth company Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of theeffectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) bythe registered public accounting firm that prepared or issued its audit report.☐ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of theregistrant included in the filing reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes☐No x The aggregate market value of the outstanding Class A common stock of the registrant held by non-affiliates at June 30, 2024 wasapproximately $28.3 billion, computed based on the closing sale price as quoted on the NASDAQ Global Select Market on that date.For purposes of this calculation only, directors, executive officers and the principal controlling shareholders or entities controlled bysuch controlling shareholders of the registrant are deemed to be affiliates of the registrant. There were 141,946,426 shares of Class A common stock outstanding as of December 31, 2024. There was 1 share of Class Bcommon stock outstanding as of the same date. Documents Incorporated By Reference Information required by Part III is incorporated by reference from the registrant’s proxy statement or an amendment to this AnnualReport on Form 10-K to be filed no later than 120 days after the end of the registrant's fiscal year ended December 31, 2024. TABLE OF CONTENTS Page No. PART I Item 1Business1Item 1ARisk Factors20Item 1BUnresolved Staff Comments30Item 1CCybersecurity30 Item 2Properties32Item 3Legal Proceedings32Item 4Mine Safety Disclosures32PART IIItem 5Market for Registrant's Common Equity, Related Stockholder Matters andIssuer Purchases of Equity Securities33Item 6[Reserved]34Item 7Management's Discussion and Analysis of Financial Condition and Results ofOperations34Item 7AQuantitative and Qualitative Disclosures About Market Risk48Item 8Financial Statements and Supplementary Data49Item 9Changes in and Disagreements with Accountants on Accounting andFinancial Disclosure49Item 9AControls and Procedures49Item 9BOther Information52Item 9CDisclosure Regarding Foreign Jurisdictions that Prevent Inspections52PART IIIItem 10Directors, Executive Officers and Corporate Governance53Item 11Executive Compensation53Item 12Security Ownership of Certain Beneficial Owners and Management andRelated Stockholder Matters53Item 13Certain Relationships and Related Transactions, and Director Independence53Item 14Principal Accountant Fees and Services53PART IVItem 15Exhibits and Financial Statement Schedules54Item 16Form 10-K Summary54SignaturesS-1Exhibit IndexE-1 This annual report on Form 10-K is for the year ended December 31, 2024. The United States Securitiesand Exchange Commission (“SEC”) allows us to “incorporate by reference” information that we file withthe SEC, which means