Capitalworks Emerging Markets Acquisition Corp-A 2025年度报告

FORM10-K ☒Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year endedMarch 31, 2026 Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from ___________ to ____________ Commission File Number 001-41108 Piermont Valley Acquisition Corp(Exact name of registrant as specified in its charter) Cayman Islands(State or Other Jurisdiction of Incorporation) (I.R.S. Employer Identification No.) 732 6th Street, #5386Las Vegas, NV 89101(Address of Principal Executive Offices) (Zip Code) (929) 792-5788(Registrant’s Telephone Number, Including Area Code) (Address, including zip code, and telephone number, including area code, of registrant’s principal executive offices)Securities registered pursuant to Section12(b) of the Act: Securities registered pursuant to Section12(g) of the 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 Section 13 or 15(d) of the Exchange Act. Yes☐No☒ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Actof 1934 during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has beensubject to such filing requirement 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 Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required tosubmit such files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, anon-acceleratedfiler, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and “emerging growth company” in Rule12b-2of the Exchange Act. LargeacceleratedfilerNon-accelerated filer 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 Section 13(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 Section 404(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 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 Exchange Act). Yes☒No☐ The registrant’s ordinary shares are not publicly traded. Accordingly, there is no market value for the registrant’s ordinary shares. As of June 12, 2026, there were 5,954,449 of the Registrant's Class A ordinary shares, par value $0.0001 per share, and 1 of theRegistrant's Class B ordinary shares, par value $0.0001 per share, issued and outstanding Documents Incorporated by Reference: None. PIERMONT VALLEY ACQUISITION CORP FORM10-K TABLE OF CONTENTSPART IItem 1.Business5Item 1A.Risk Factors16Item 1B.Unresolved Staff Comments47Item 1C.Cybersecurity47Item 2.Properties47Item 3.Legal Proceedings47Item 4.Mine Safety Disclosures47PART IIItem 5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of EquitySecurities48Item 6.[Reserved]49Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations49Item 7A.Quantitative and Qualitative Disclosures About Market Risk56Item 8.Financial Statements and Supplementary Data56Item 9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosures56Item 9A.Controls and Procedures56Item 9B.Other Information57Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections57PART IIIItem 10.Directors, Executive Officers and Corporate Governance58Item 11.Executive Compensation60Item 12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters61Item 13.Certain Relationships and Related Transactions, and Director Independence62Item 14.Principal Accountant Fees and Services63PART IVItem 15.Exhibits, Financi