Maxeon Solar Technologies Ltd 2025年年度报告和过渡报告

Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of itsinternal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered publicaccounting 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 the registrantincluded 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 which basis of accounting the registrant has used to prepare the financial statements included in this filing:U.S. GAAPSInternational Financial Reporting Standards as issued by the International Accounting StandardsBoard☐Other☐If “Other” has been checked in response to the previous question, indicate by check mark which financial statement item the registrant haselected to follow. Item 17☐Item 18☐If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☒ Table of Contents PageIntroduction1Use of Certain Terms2Market Information3Special Note About Forward-Looking Statements3PART I5Item 1. Identity Of Directors, Senior Management And Advisors51.A. Directors And Senior Management51.B. Advisors51.C. Auditors5Item 2. Offer Statistics And Expected Timetable5Item 3. Key Information53.A. [Reserved]53.B. Capitalization And Indebtedness53.C. Reasons For The Offer And Use Of Proceeds53.D. Risk Factors5Item 4. Information On The Company444.A. History And Development Of The Company444.B. Business Overview474.C. Organizational Structure574.D. Property, Plants And Equipment58Item 4A.Unresolved Staff Comments58Item 5. Operating And Financial Review And Prospects625.A. Operating Results625.B. Liquidity And Capital Resources775.C. Research and Development, Patents and Licenses, Etc.825.D. Trend Information825.E. Critical Accounting Estimates82Item 6. Directors, Senior Management And Employees826.A. Directors And Senior Management826.B. Compensation876.C. Board Practices886.D. Employees926.E. Share Ownership93Item 7. Major Shareholders And Related Party Transactions957.A. Major Shareholders957.B. Related Party Transactions967.C. Interests Of Experts And Counsel99Item 8. Financial Information998.A. Consolidated Statements And Other Financial Information998.B. Significant Changes100Item 9. The Offer And Listing1009.A. Offer And Listing Details1009.B. Plan Of Distribution100 9.C. Markets1009.D. Selling Shareholders1009.E. Dilution1009.F. Expenses Of The Issue100Item 10. Additional Information10010.A. Share Capital10010.B. Constitution10110.C. Material Contracts10710.D. Exchange Controls10710.E. Taxation10710.F. Dividends And Paying Agents11610.G. Statement By Experts11610.H. Documents On Display11610.I. Subsidiary Information11710.J. Annual Report To Security Holders117Item 11. Quantitative And Qualitative Disclosures About Market Risk117Item 12. Description Of Securities Other Than Equity Securities11812.A. Debt Securities11812.B. Warrants And Rights11812.C. Other Securities11812.D. American Depositary Shares118PART II118Item 13. Defaults, Dividend Arrearages And Delinquencies118Item 14. Material Modifications To The Rights Of Security Holders And Use Of Proceeds118Item 15. Controls And Procedures118Item 16.[Reserved]119Item 16A. Audit Committee And Financial Expert119Item 16B. Code Of Ethics119Item 16C. Principal Accountant Fees And Services119Item 16D. Exemptions From The Listing Standards For Audit Committees120Item 16E. Purchases Of Equity Securities By The Issuer And Affiliated Purchasers120Item 16F. Change In Certifying Accountant120Item 16G. Corporate Governance120Item 16H. Mine Safety Disclosure120Item 16I. Disclosure Regarding Foreign Jurisdictions That Prevent Inspections120PART III123Item 17. Financial Statements123Item 18. Financial Statements123Item 19. Exhibits124Index To Financial StatementsF-1 INTRODUCTION We are registered with the Accounting and Corporate Regulatory Authority of Singapore (“ACRA”) under the name “Maxeon SolarTechnologies, Ltd.” We were formed in the third quarter of 2019 under the name “Maxeon Solar Technologies, Pte. Ltd.” and converted to a public company onAugust 26, 2020 (the “Distribution Date”) under the Companies Act 1967 of Singapore (the “Singapore Companies Act”) under the name of“Maxeon Solar Technologies, Ltd.” We prepare consolidated financial statements expressed in U.S. dollars. Our consolidated financial statements responsive to Item 17 of thisForm 20-F are prepared in accordance with generally accepted accounting principles in the United