One and one Green Technologies (YDDL) Registration filing summary

Company overview and business model

• Operates as a Cayman Islands holding company with operations in the Philippines via VIEs, focusing on recycling, production, and trading of recycled scrap metals, including copper alloy ingots and aluminum scrapes.

• Utilizes environmentally friendly technology, including an exhaust gas recirculation system, and holds government licenses for hazardous waste processing and importation.

• Business model leverages a VIE structure due to foreign ownership restrictions in the Philippines, with all revenues generated by the VIEs and economic benefits flowing to the holding company through contractual arrangements.

• Annual processing capacity is approximately 300,000 tons, with a workforce of 91 as of June 30, 2025.

• Key strategies include expanding production capabilities, developing overseas markets, and reducing transportation costs by acquiring a bulk carrier terminal.

Financial performance and metrics

• FY2024 revenue was $53.46 million, up 29.5% from $41.27 million in FY2023; net income for FY2024 was $6.48 million, up from $5.57 million in FY2023.

• For the six months ended June 30, 2025, revenue was $28.13 million (up 50.7% YoY), with net income of $3.83 million.

• Gross margin for FY2024 was 19.77%, slightly down from 21.52% in FY2023; gross margin for the first half of 2025 was 25.32%.

• As of June 30, 2025, cash and cash equivalents were $122,567, with no interest-bearing debt.

• Customer and supplier concentration is high, with three customers accounting for over 95% of revenue in FY2024 and four suppliers accounting for over 79% of purchases.

Use of proceeds and capital allocation

• Estimated net proceeds of $16.39 million will be allocated as follows: 15% for machinery and equipment, 5% for land acquisition, 15% for a new manufacturing facility, and 65% for working capital and general corporate purposes.

• Management has broad discretion in the use of proceeds, and actual allocations may vary depending on business conditions.