索尔工业 2024年度报告

(Mark one) ☑ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Securities registered pursuant to Section12(g) of the Exchange Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes☑No☐ Indicate by check mark if the registrant is not required to file reports pursuant to Section13 or Section15(d) of the Act. Yes☐No☑ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405of this chapter) during the preceding 12 months (or for such shorter period that the registrant 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 smaller reporting company, or an emerging growth company.See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule12b-2 of the Exchange Act. Large accelerated filerNon-accelerated filerEmerginggrowthcompany Smallerreportingcompany If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financialaccounting 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 effectiveness of its internal control over financial reportingunder Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☑ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act.) Yes☐No☑ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correctionof 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 compensation received by any of the registrant’sexecutive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ The aggregate market value of the voting and non-voting common equity held by non-affiliates of the registrant as of January31, 2025 was approximately $5.226billion based onthe closing price of the registrant’s common shares on January31, 2025, the last business day of the registrant’s most recently completed second fiscal quarter. Solely for thepurpose of this calculation and for no other purpose, the non-affiliates of the registrant are assumed to be all shareholders of the registrant other than (i)directors of the registrant(ii)current executive officers of the registrant who are identified as “named executive officers” pursuant to Item10 of the registrant’s Annual Report on Form10-K for the fiscalyear ended July 31, 2025 and (iii)any shareholder that beneficially owns 10% or more of the registrant’s common stock. The exclusion of such persons is not intended, nor shall itbe deemed, to be an admission that such persons are affiliates of the registrant. The number of shares of the registrant’s common stock outstanding as of September16, 2025 was52,633,210. Documents incorporated by reference: Portions of the Proxy Statement for the 2025 Annual Meeting of Stockholders are incorporated by reference in Part III of this Annual Report on Form10-K. TABLE OF CONTENTS ITEM1.BUSINESS1ITEM1A.RISK FACTORS12ITEM1B.UNRESOLVED STAFF COMMENTS26ITEM1C.CYBERSECURITY RISK MANAGEMENT, STRATEGY ANDGOVERNANCE26ITEM2.PROPERTIES27ITEM3.LEGAL PROCEEDINGS28ITEM4.MINE SAFETY DISCLOSURES28 ITEM5.MARKET FOR REGISTRANT’S COMMON EQUITY, RELATEDSTOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITYSECURITIES29ITEM6.(RESERVED)31ITEM7.MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIALCONDITION AND RESULTS OF OPERATIONS32ITEM7A.QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKETRISK52ITEM8.FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA – SEEITEM1553ITEM9.CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ONACCOUNTING AND FINANCIAL DISCLOSURE54ITEM9A.CONTROLS AND PROCEDURES54ITEM9B.OTHER INFORMATION56ITEM9C.DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENTINSPECTION56 ITEM10.DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE57ITEM11.EXECUTIVE COMPENSATION57ITEM12.SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS ANDMANAGEMENT AND RELATED STOCKHOLDER MATTERS57ITEM13.CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS ANDDIRECTOR INDEPENDENCE58ITEM14.PRINCIPAL ACCOUNTING FEES AND SERVICES58 ITEM15.EXHIBITS AND FINANCIAL STATEMENT SCHEDULES59 SIGNATURES62 PART I Unless otherwise indicated, all Dollar and Euro amounts are presented in thousands except per share data.ITEM1. BUSINE