Firsthand Technology Value Fund Inc 2025年度报告

For the fiscal year ended December 31, 2025or☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 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 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 Securities Exchange Act of 1934 during the preceding 12months (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 submitted pursuant to Rule 405 of Regulation S-T during thepreceding 12 months (or for such shorter period that the registrant was required to submitsuch files).☒Yes☐No Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of the registrant’sknowledge, in the definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.☐ Indicate by check mark 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” in Rule 12b-2 of the Exchange Act. Large accelerated filer☐Emerging growth company☐ Non-accelerated filer☒ Table of Contents 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 Section 13(a) of the Exchange Act.☐ 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).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).☐Yes☒No The aggregate market value of the Common Stock held by non-affiliates of the registrant as of December 31, 2025was approximately $84,000(computed using the closing price of$0.02per share of Common Stock on December 31, 2025, as reported by OTC Markets Group. As of March 1, 2026, Firsthand Technology Value Fund had 6,892,540shares of common stock, par value $0.001 per share, outstanding. DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant’s definitive proxy statement prepared in connection with the Annual Meeting of Stockholders to be held in 2026are incorporated by reference in Part III of TABLE OF CONTENTS PART IItem 1. Business Item 1A. Risk FactorsItem 1B. Unresolved Staff CommentsItem 1C.CybersecurityItem 2. PropertiesItem 3. Legal ProceedingsItem 4. Mine Safety DisclosuresPART II Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities Item 6. Selected Financial DataItem 7. Management’s Discussion and Analysis of Financial Condition and Results of OperationsItem 7A. Quantitative And Qualitative Disclosures About Market RiskItem 8. Financial Statements and Supplementary DataItem 9. Changes In And Disagreements With Accountants On Accounting And Financial DisclosureItem 9A. Controls and ProceduresItem 9B. Other InformationPart III Item 10. Directors, Executives Officers And Corporate Governance Item 11. Executive CompensationItem 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder MattersItem 13. Certain Relationships and Related Transactions, and Director IndependenceItem 14. Principal Accountant Fees and ServicesPart IV Item 15. Exhibits, Financial Statements Schedules PART I Item1.Business FORWARD LOOKING STATEMENTS This report, and other statements that we may make, may contain forward-looking statements, which relate to future events or our future performance or financial condition. We usewords such as “anticipates,” “believes,” “expects,” “plans,” “will,” “may,” “continues,” “seeks,” “likely,” “intends,” and similar expressions to identify forward-looking statements. Theforward-looking statements contained in this Annual Report on Form 10-K involve risks and uncertainties, including forward-looking statements as to: ●our future operating results,●our business prospects and the prospects of our prospective portfolio companies,●the impact of investments that we expect to make,●our contractual arrangements and relationships with third parties,●the dependence of our future success on the genera