One & one Green Technologies, INC Annual Report: A Practical Investor’s Guide

I’ve put together this guide to help you understand how One & one Green Technologies, INC performed this year. My goal is to cut through the corporate jargon and give you the facts you need to decide if this company belongs in your portfolio.

1. What does this company do and how did they perform?

One & one Green Technologies is a Cayman Islands holding company. Its actual business—processing scrap metal—happens in the Philippines through two entities: DL Metal and Yoda Metal. They collect, process, and sell scrap metal to industrial clients for manufacturing and construction.

The company uses a "Variable Interest Entity" (VIE) structure. The stock you buy on the Nasdaq (symbol: YDDL) doesn't technically own the Philippine businesses. Instead, it uses contracts to control them and collect their profits. Think of it like a landlord who doesn't own the house but has a contract giving them the right to the rent. Because the parent company doesn't own the operating businesses directly, your investment depends entirely on whether these private contracts hold up under Philippine law.

2. Financial performance

The company is growing. They reported a profit of roughly $11.8 million in 2025, up from about $6.5 million in 2024. This growth comes from their scrap metal processing facilities in the Philippines.

However, the business plans to keep all earnings in the Philippines to fund growth and equipment. Because of this, the parent company has no cash to share with investors, and you should not expect any dividend payments in the near future.

3. Major operational risks

The company is currently in a "startup" phase as a public business. A significant risk is their reliance on a tiny group of partners. In 2025, just three customers provided most of their revenue, and four suppliers provided most of their materials. This creates a "bottleneck" risk; if one major customer leaves or a key supplier faces disruption, the company’s revenue could drop sharply.

4. Financial health and investment risks

While the company is profitable, the stock is highly volatile and carries specific risks that every investor should weigh:

• Fragile Control: Because the company relies on contracts rather than direct ownership, they must rely on Philippine courts if partners break those agreements. This process can be slow, expensive, and uncertain.
• Regulatory Compliance: The company acknowledges that it may not currently hold all local permits required for scrap metal processing. This could lead to fines or operational shutdowns.
• Environmental Hazards: Their processing sites are vulnerable to typhoons and floods. Severe weather could damage equipment, destroy inventory, and halt production.
• Growth Strategy: The company intends to grow through acquisitions, but they have no specific targets yet. These future deals may require taking on debt or issuing more shares, which could dilute your ownership percentage.
• Conflicts of Interest: The company faces challenges in managing potential conflicts between employees, clients, and major shareholders, which may influence corporate decision-making.

5. Future outlook

The company operates in a high-risk environment. Between geopolitical tensions and legal uncertainties, this is a speculative investment. While they are working to improve their internal controls to meet U.S. standards, they are still in the early stages of aligning with the expectations of American investors.

Bottom Line for Investors: This is a high-growth, high-risk opportunity. Before investing, consider whether you are comfortable with the risks associated with the VIE structure, the lack of dividend potential, and the company's heavy reliance on a very small group of suppliers and customers. This stock is best suited for those who understand the complexities of international holding companies and are prepared for significant volatility.