One & one Green Technologies. INC (NASDAQ: YDDL)

One and one Cayman is a waste materials and scrap metal recycling company operating in the Philippines. The firm processes electronic waste and metal scrap sourced domestically and internationally to produce copper alloy ingot, aluminum scrap, plastic beads and other recycled commodities. It holds licences to import hazardous waste and to process electronic waste, and reports an annual processing capacity of approximately 300,000 tonnes. The company operates 3 production sites in the Philippines and plans to add a 4th facility focused on lithium battery recycling within 3 years. As of December 2025 it employed 90 staff including 7 engineers. The firm’s operations include crushing, separation, smelting and polishing steps to convert waste into usable metal and plastic products.

Revenue is generated primarily from the sale of copper alloy ingot, aluminum scrap, plastic beads and other recycled products to customers. In 2025 copper alloy ingot accounted for 68.5% of revenue while aluminum scrap contributed 30.0%. The remaining revenue comes from plastic beads and other minor products. Revenue is recognised at the point of delivery when the company assumes cost and freight responsibilities. The company sells its output to importers mainly located in China and Hong Kong under long term supply agreements.

The recycled metal industry in the Philippines is highly fragmented with many small enterprises competing alongside larger processors. One and one Cayman distinguishes itself through an exhaust gas recirculation system that reduces emissions and enables recovery of ash and slag for further metal processing. This technology, combined with government licences to import hazardous waste and to smelt electronic waste, provides a cost advantage over virgin metal mining and helps the firm meet strict environmental standards. Competitors often lack comparable emissions control systems and may rely on less environmentally sound processes. The firm does not maintain commercial insurance coverage, which exposes it to potential financial losses from unforeseen events.

The company serves a base of long term importers located principally in China and Hong Kong. It reports nine principal importers across two provinces in China and Hong Kong, with three customers each representing more than ten percent of total revenue. For the fiscal year ended 2025 these major customers accounted for approximately 26.8%, 48.8% and 24.4% of revenue respectively. Credit terms are typically within 6 months but may be extended for large projects. To reduce reliance on a small number of buyers the management participates in international exhibitions of renewable resources in the United States, Europe and China.