Aeries Technology Inc-A 2024年度报告

FORM10-K (MARK ONE)☒ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year endedMarch 31, 2025 ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period from __________ to __________Commission file number:001-40920 Aeries Technology, Inc.(Exact Name of Registrant as Specified in Its Charter) (919)228-6404(Registrant’s telephone number, including area code) N/A(Former name, former address and former fiscal year, if changed since last report) Securities registered pursuant to Section12(b) of the Act: Indicate by check mark if the Registrant is a well-known seasoned issuer, as defined in Rule405 of the Securities Act. YES☐NO☒ Indicate by check mark if the Registrant is not required to file reports pursuant to Section13 or 15(d) of the Act. YES☐NO☒ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section13 or 15(d) of the SecuritiesExchange Act during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject to such filing requirements for the past 90 days.YES☒NO☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that theregistrant was required to submit such files).YES☒NO☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company or an emerging growth company. See definitions of “large accelerated filer”, “accelerated filer”, “smaller reportingcompany”, and “emerging growth company” in Rule12b-2 of the Exchange Act. Large accelerated filer☐Non-accelerated filer☒ Accelerated filer☐Smaller reporting company☒Emerging growth company☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectivenessof its internal control over financial reporting under Section404(b) of the Sarbanes-Oxley Act (15 U.S.C.7262(b)) by the registeredpublic accounting firm that prepared or issued its audit report.☐ If securities are registered pursuant to Section12(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 Rule12b-2 of the Exchange Act). YES☐NO☒ As of September30, 2024, the last business day of the registrant’s most recently completed second fiscal quarter, the aggregate marketvalue of the registrant’s ordinary shares held by non-affiliates of the registrant was approximately $27.2million, based on the closingsale price as reported on the Nasdaq Capital Market. As of July1, 2025, there were47,152,626Class A ordinary shares, $0.0001 par value and 1 Class V ordinary share, $0.0001 par value,issued and outstanding. Documents Incorporated by Reference:None. AERIES TECHNOLOGY, INC. FORM 10-KFor the fiscal year ended March 31, 2025TABLE OF CONTENTSCAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTSiiiPART I1Item 1. Business1Item 1A. Risk Factors15Item 1B. Unresolved Staff Comments44Item 1C. Cybersecurity44Item 2. Properties45Item 3. Legal Proceedings46Item 4. Mine Safety Disclosures46PART II47Item 5. Market for Registrant’s Common Equity, Related Shareholder Matters and Issuer Purchases of EquitySecurities47Item 6. [Reserved]48Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations49Item 7A. Quantitative and Qualitative Disclosures About Market Risk62Item 8. Financial Statements and Supplementary Data62Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure62Item 9A. Controls and Procedures63Item 9B. Other Information64Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections64PART III65Item 10. Directors, Executive Officers and Corporate Governance65Item 11. Executive Compensation73Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters82Item 13. Certain Relationships and Related Transactions, and Director Independence85Item 14. Principal Accounting Fees and Services87PART