瓦利化工 2024年度报告

Indicate by check mark: If the Registrant is a well-known seasoned issuer, as defined in Rule405 of the Securities Act.Yes☐No☒ Whether the Registrant (1)has filed all reports required to be filed by Section13 or 15(d)of the Securities Exchange Act of 1934 during the preceding12months (or for such shorter period that the Registrant was required to file such reports), and (2)has been subject to such filing requirements for thepast 90days.Yes☒No☐Whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule405 of Regulation S-T during the preceding 12months (or for such shorter period that the registrant was required to submit such files).Yes☒No☐Whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer”, “accelerated filer,” smaller reporting company,” and “emerging growth company” inRule12b-2 of the Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with anynew or revised financial accounting standards provided pursuant to Section13(a)of the Exchange Act.☐ Whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financialreporting under Section404(b)of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued itsaudit report.☐ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included inthe 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-based compensationreceived by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☒ Whether the Registrant is a shell company (as defined in Rule12b-2 of the Act).Yes☐No☒. Number of shares of the registrant’s common stock, $.01 par value per share, outstanding on March3, 2025:28,294,793. Documents incorporated by reference The information required by PartIII is incorporated by reference from the Registrant’s definitive proxy statement to be filed with theCommission pursuant to Regulation 14A not later than 120days after the end of the fiscalyear covered by this report. PARTI Valhi,Inc. (NYSE: VHI) is primarily a holding company. We operate through our wholly-ownedand majority-owned subsidiaries, including NL Industries,Inc., Kronos Worldwide,Inc., CompXInternationalInc., Basic Management,Inc. and The LandWell Company. Kronos (NYSE: KRO), NL(NYSE: NL) and CompX (NYSE American: CIX) each file periodic reports with the U.S. Securities andExchange Commission (SEC). Our principal executive offices are located at Three Lincoln Center 5430 LBJ Freeway,Suite1700, Dallas, Texas 75240-2620. Our telephone number is (972)233-1700. We maintain a websiteat www.valhi.net. Brief History LLC Corporation, our legal predecessor, was incorporated in Delaware in 1932. We are thesuccessor company of the 1987 merger of LLC Corporation and another entity controlled by ContranCorporation.One of Contran’s wholly-owned subsidiaries held approximately 91%of Valhi’soutstanding common stock at December 31, 2024. As discussed in Note1 to our Consolidated FinancialStatements, Lisa K. Simmons and a trust established for the benefit of Ms.Simmons and her late sisterand their children (the “Family Trust”) may be deemed to control Contran and us. Key events in our history include: ●1979 – Contran acquires control of LLC;●1981 – Contran acquires control of our other predecessor company;●1982 – Contran acquires control of Keystone Consolidated Industries,Inc., a predecessor toCompX;●1984 – Keystone spins-off an entity that includes what is to become CompX; this entitysubsequently merges with LLC;●1986 – Contran acquires control of NL, which at the time owns 100% of Kronos;●1987 – LLC and another Contran controlled company merge to form Valhi, our currentcorporate structure;●2003 – NL completes the spin-off of Kronos through the pro-rata distribution of Kronosshares to its shareholders including us;●2004 through 2005 – NL distributes Kronos shares to its shareholders, including us, throughquarterly dividends;●2010–Kronos completes a secondary offering of its common stock lowering ourownership of Kronos to 80%;●2012 – InDecemberCompX completes the sale of its furniture components business;●2013 – InDecemberwe purchased an additional ownership interest in and became themajorityowner of Basic Management,Inc.(“BMI”)and The LandWell Company(“LandWell”);●2015 – The first homes in our Cadence planned community were completed by third-partybuilders and sold to the public;●20