• Like a Schnitzer Steel, but specialized in high-tech e-waste and industrial metal recovery.
• A specialized Waste Management (WM) focused on turning e-waste and industrial scrap into valuable recycled raw materials.

• Copper alloy ingot: A final product generated from the recycling and processing of scrap metals.
• Aluminum scrapes: A processed material recovered from recycled electronic waste and scrap metals.
• Plastic beads: A recycled material produced from electronic waste and other plastic-containing materials.

One and one Green Technologies (YDDL) primarily operates as a Business-to-Business (B2B) company. They process electronic waste and metal scraps to produce final products such as copper alloy ingots, aluminum scrapes, and plastic beads, which are then sold as raw materials or components to other manufacturing companies.

Based on the provided company description, specific names of major customer companies are not disclosed.

• Since April 17, 2024, Caifen Yan has been fully responsible for the operation and management of One and one Green Technologies Inc.. She is also referred to as Tina Yan in various company communications.

• No additional background information is available for Chun Kit Wong in the provided context.

Key Business Risks for One and one Green Technologies (YDDL)

The primary risks for One and one Green Technologies (YDDL) revolve around its corporate structure, regulatory compliance, and reliance on international raw material sourcing.

1. Variable Interest Entity (VIE) Structure: Investors purchasing Class A Ordinary Shares are acquiring equity in One and one Cayman, which does not directly own the operating business in the Philippines. This structure introduces complexities regarding control, enforceability of contractual arrangements, and potential uncertainties for investors as they do not hold direct equity in the operational entities.
2. Dependence on Governmental Permits and Environmental Compliance: The company's operations are heavily reliant on maintaining various governmental authorizations, including an Environmental Compliance Certificate (ECC), Permit to Operate, Discharge Permit, and Import and Export Permits. The ability to import hazardous waste as raw materials is also contingent on a government-issued license under The Basel Convention framework. Any failure to comply with existing environmental laws, rules, and regulations, or the inability to renew or obtain necessary permits, could severely impact or halt business operations.
3. Reliance on International Sourcing of Raw Materials: One and one Green Technologies processes electronic waste and metal scraps sourced from both local and international locations, including Korea, Japan, Southeast Asia, Europe, and the USA. This dependence on a global supply chain for raw materials exposes the company to risks associated with changes in international trade policies, tariffs, import/export regulations, and potential geopolitical or logistical disruptions in these regions.

The addressable markets for One and one Green Technologies' (YDDL) main products and services are primarily in the Philippines and the broader Asia Pacific region, with global market data providing additional context for certain products.

Recycled Scrap Metals (General)

• The metal recycling market in the Philippines is projected to experience growth. The Philippines Metal Recycling Market is anticipated to grow at a Compound Annual Growth Rate (CAGR) of 8.4% during the forecast period from 2026 to 2032. Similarly, the Philippines Scrap Metal Recycling Market size is projected to grow at a CAGR of 5.7% from 2025 to 2031.
• The Southeast Asia metal recycling market size reached USD 9,482.5 million in 2024 and is expected to reach USD 18,308.4 million by 2033, exhibiting a CAGR of 7.58% during 2025-2033.
• Globally, the scrap metal recycling market size was valued at USD 435.50 billion in 2025 and is projected to reach USD 614.00 billion by 2034, growing at a CAGR of 3.9% from 2026 to 2034. Asia Pacific dominated this market with a share of 51.70% in 2025.

Copper Alloy Ingot

• The Philippines Copper Market was valued at USD 1.76 billion in 2024 and is projected to reach USD 2.61 billion by 2032, with a CAGR of 5.12% from 2025 to 2032.
• The global copper ingots market size was estimated at approximately USD 6.5 billion in 2023 and is projected to grow to USD 10.3 billion by 2032, at a CAGR of 5.3%. The Asia Pacific region holds the largest share of the copper ingots market.
• The global copper alloys market size was estimated at USD 87,710.7 million in 2024 and is estimated to grow at a CAGR of 5.5% from 2025 to 2030, reaching USD 127,732.2 million by 2030. Asia Pacific accounts for the largest market share in the global copper alloys market.

Aluminum Scraps

• The Philippines Recycled Aluminum Market is valued at approximately USD 550 million.
• The global aluminum scrap market reached US$110.35 billion in 2024 and is expected to reach US$160.00 billion by 2032, growing at a CAGR of 4.84% from 2025 to 2032. Asia-Pacific was the dominant market, capturing the largest revenue share of 61.21% in 2024.
• The global aluminum scrap recycling market size was valued at USD 5.4 billion in 2023 and is projected to reach USD 11.7 billion by 2033, growing at a CAGR of 8% from 2024 to 2033. The Asia-Pacific region dominated with a 61.20% revenue share in 2025 and is expanding at a 5.55% CAGR through 2031.

Plastic Beads (Recycled Plastics)

• The Philippines Recycled Plastic Market was valued at USD 0.51 million (revenue in USD Million) in 2022 and is projected to grow to USD 0.96 billion by 2032, registering a CAGR of 10.47% from 2025 to 2032.
• The Philippines Recycled Polymers Market is estimated at USD 599.78 million in 2024 and is expected to grow at a CAGR of 5.2% to reach USD 813 million by 2030.
• The Asia Pacific recycled plastics market size was estimated at USD 30.23 billion in 2025 and is predicted to increase to approximately USD 72.11 billion by 2034, expanding at a CAGR of 10.14% from 2025 to 2034.

One and one Green Technologies (YDDL) is poised for future revenue growth over the next two to three years, driven by several strategic initiatives and favorable market trends.

One key driver is the company's **increased processing capacity and efficiency through technology upgrades**. One and One Green Technologies recently completed a strategic technology and equipment upgrade at its San Rafael facility, which is anticipated to boost its printed circuit board (PCB) processing capacity by over 30% and enhance the extraction efficiency of precious metals, including gold and silver, by approximately 15-20%. This upgrade is expected to result in an 8-12% improvement in gross margin on processed materials and contribute significantly to revenue growth.

Another significant driver is the **expansion into new international markets and the securing of new contracts**. The company has actively expanded its global reach, evidenced by signing its first European e-waste supply deal in Spain and securing substantial contracts, including a $17 million order from a Japanese supplier and $39 million in metal recycling contracts for recycled strategic metals. This expansion strategy, coupled with increasing demand from Asia-Pacific industrial clients for its copper alloy ingots and aluminum scrap products, underscores its ability to broaden its customer base and raw material sourcing.

Furthermore, the **surging demand for recycled metal products, particularly copper, in the high-growth Asia-Pacific region** continues to be a crucial revenue driver. The company reported that its strong performance in the first half of 2025 was largely due to accelerating revenue growth and surging demand for its copper products in this region. Management is confident that their strategic focus on high-demand products and efficient cost management will sustain this growth.

Finally, One and one Green Technologies is strategically positioned to **capitalize on the expanding global e-waste market with its environmentally responsible and compliant processing capabilities**. The global e-waste market is projected to grow at an 8.4% Compound Annual Growth Rate (CAGR). The company's government-issued license to import hazardous waste as raw materials and its advanced, environmentally friendly exhaust gas recirculation system, which ensures emissions meet all applicable standards, reinforce its leadership in compliant and responsible resource recovery, attracting valuable e-waste streams.

Share Issuance

• One and one Green Technologies completed its initial public offering (IPO) in October 2025, issuing 2 million Class A ordinary shares at $5.00 per share, generating gross proceeds of $10 million.
• The underwriters fully exercised their over-allotment option, purchasing an additional 300,000 Class A ordinary shares at $5.00 per share, which raised an extra $1.5 million.
• As a result of the IPO and the over-allotment option, the total gross proceeds amounted to approximately $11.5 million from the issuance of 2.3 million Class A ordinary shares.

Capital Expenditures

• On March 5, 2026, One and one Green Technologies completed a strategic technology and equipment upgrade at its San Rafael facility.
• This investment focused on advanced processing capabilities to enhance the profitability and environmental performance of its operations, specifically for high-value printed circuit board (PCB) recycling.
• The upgrade included the installation and modernization of a secondary combustion chamber, a surface cooler, and a desulfurization tower, expected to increase PCB processing capacity by over 30% and improve precious metal extraction efficiency by 15-20%.