One and One Green Technologies Reports First Half 2026 Results
A shift toward copper lifted sales, while higher costs narrowed gross margin and operating cash use increased.
Sentiment and the balance of points
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Rhea-AI Summary
One and One Green Technologies (YDDL) reported first-half 2026 revenue of $33.38 million as copper alloy sales grew.
Revenue rose 18.7% year over year, while net income rose 17.4% to $4.49 million. Basic and diluted earnings per share were $0.08, versus $0.07. Copper alloy revenue rose 38.9% to $25.71 million, but total shipment volume fell 10.4%. Gross margin narrowed to 21.73% from 25.32%, and operating income fell 12.6% to $4.99 million. Aluminum processing stopped for roughly six weeks during an equipment upgrade and resumed in July.
Operating activities used $9.93 million as receivables and inventory increased. Cash reached $2.71 million at June 30. Share and warrant issuance generated $11,825,513 in net proceeds. The company expects gross margin and net income to strengthen in the second half and targets production from a new metals recovery line before year-end.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Major pointShare and warrant issuance generated $11,825,513 in net proceeds. 15% of market cap
- Moderate pointRevenue rose 18.7% to $33.38 million in the first half.
- Moderate pointCopper alloy revenue rose 38.9% to $25.71 million as volume grew 29.10%.
- Moderate pointNet income rose 17.4% to $4.49 million.
- Moderate pointWorking capital rose to $43.55 million from $28.04 million at December 31, 2025.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Second-half outlook: The company expects gross margin and net income to strengthen.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Full-year 2026 outlook: The company expects continued revenue and net income growth.
6 minor points
- Minor pointBasic and diluted earnings per share reached $0.08, versus $0.07.
- Minor pointGross profit rose 1.9% to $7.25 million.
- Minor pointBrass alloy revenue rose 25.0% to $1.25 million.
- Minor pointCash rose to $2.71 million at June 30 from $957,285 at December 31, 2025.
- Minor pointAluminum production resumed in July 2026 following the equipment upgrade.
- Minor point. Forward-looking: it has not happened yet and may not happen.Metals recovery line: The company targets production before year-end and has procured more than 2,000 tons of raw material.
Negative
- Moderate pointOperating cash use rose to $9.93 million from $1.73 million a year earlier.
- Moderate pointGross margin narrowed to 21.73% from 25.32% a year earlier.
- Moderate pointOperating income fell 12.6% to $4.99 million.
- Moderate pointTotal shipment volume fell 10.41% to 5,323,609 kilograms.
- Minor pointCost of revenue rose 24.37% to $26.13 million, outpacing revenue growth.
4 minor points
- Minor pointAluminum alloy revenue fell to $6.42 million from $8.61 million during the processing suspension.
- Minor pointClass A shares outstanding rose to 45,829,373 from 44,096,040; the financing also issued warrants.
- Minor pointGeneral and administrative expenses rose to $2.05 million from $1.17 million.
- Minor pointMetal-price exposure is not hedged with derivative instruments.
News Explained
At
Key Figures
- Revenue
- $33.38 million (+18.7%)
- Six months ended June 30, 2026, compared with 2025
- Net income
- $4.49 million (+17.4%)
- Six months ended June 30, 2026, compared with 2025
- Gross margin
- 21.73% vs. 25.32% (down 359 bps)
- Six months ended June 30, 2026, compared with 2025
- Income from operations
- $4.99 million vs. $5.70 million (-12.6%)
- Six months ended June 30, 2026, compared with 2025
- Operating cash flow
- $9.93 million used vs. $1.73 million used
- Six months ended June 30, 2026 and 2025
- Basic and diluted earnings per share
- $0.08 vs. $0.07 (+10.9%)
- Six months ended June 30, 2026, compared with 2025
- Copper alloy ingot revenue
- $25.71 million (+38.9%)
- Six months ended June 30, 2026, compared with 2025
Historical Context
-
Procured feedstock and had installation underway for the new recovery line
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
follow-on public offering financial
derivative instruments financial
working capital financial
basel framework regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
- Revenues Up
18.7% to$33.4 Million - Net Income Up
17.4% to$4.5 Million - Copper Alloy Revenue Up
39%
SAN RAFAEL, BULACAN, PHILIPPINES, Sept. 29, 2026 (GLOBE NEWSWIRE) -- One and One Green Technologies, Inc. (Nasdaq: YDDL) (“One and One” or the “Company”), a waste materials and scrap metal recycler that produces copper alloy, aluminum alloy and brass alloy ingots in the Philippines, today reported financial results for the six months ended June 30, 2026.
Revenues rose
Gross margin narrowed to
FINANCIAL SUMMARY
| Six months ended June 30 | 2026 | 2025 | Change | ||
| Revenues | + | ||||
| Gross profit | 7,253,731 | 7,121,544 | + | ||
| Gross margin | (359) bps | ||||
| Income from operations | 4,987,156 | 5,704,032 | (12.6)% | ||
| Income before income taxes | 6,133,918 | 4,910,906 | + | ||
| Net income | $4,492,677 | $3,826,300 | + | ||
| Earnings per share, basic and diluted | $0.08 | + |
*Change calculated on unrounded earnings per share of
REVENUE AND PRODUCT MIX
Revenues were
| Product category | 1H26 revenue | 1H26 kg | 1H25 revenue | 1H25 kg |
| Copper alloy ingots | 25,710,094 | 2,764,349 | 18,510,036 | 2,141,245 |
| Aluminum alloy | 6,419,807 | 2,348,060 | 8,608,800 | 3,559,143 |
| Brass alloy ingots | 1,251,029 | 211,200 | 1,000,960 | 176,700 |
| Slag | — | — | 9,918 | 65,000 |
| Total | 33,380,930 | 5,323,609 | 28,129,714 | 5,942,088 |
COST OF REVENUE AND GROSS MARGIN
Cost of revenue was
OPERATING INCOME AND NET INCOME
Income from operations was
BALANCE SHEET, WORKING CAPITAL, AND LIQUIDITY
As of June 30, 2026, cash and cash equivalents were
The increase in working capital reflects the deployment of net proceeds from the April 2026 follow-on public offering, together with retained earnings for the period, into inventory and receivables to support the growth of the copper alloy business. Inventories increased to
MANAGEMENT COMMENTARY
Caifen (Tina) Yan, Chief Executive Officer and Chairman of One and One, commented, “The first half was about building capacity for our next stage of growth. We upgraded our processing equipment during the period, and a significant portion of the related costs was recognized in these results. Our aluminum line, which was offline for roughly six weeks of the first half during the upgrade, is back in full production, and that investment is now working for us. With the upgraded lines in operation, we expect gross margin and net income to strengthen through the second half, and we are confident in delivering continued growth in both revenue and net income for full-year 2026.”
“We enter the second half with real momentum. Copper alloy revenue grew approximately
“Our next lever is raw material. Securing long-term supply agreements in Japan and South Korea will give us more control over input costs and margin, and it is where much of my attention goes between now and year-end. At the same time, we are expanding our alloy range and building an international business development team across Europe, the Americas, and Asia to serve manufacturers who want one reliable supplier. Underpinning all of this is our license to import hazardous waste into the Philippines under the Basel framework, a position that becomes more valuable as regulation tightens in our source markets. We believe One and One is well positioned to turn this year's investments into sustained, profitable growth.”
About One and One Green Technologies, Inc.
One and One Green Technologies, Inc. is a licensed hazardous waste importer and a licensed recycler of non-ferrous metals and industrial materials in the Philippines. One and One transforms electronic waste, scrap metal, and other raw materials into high-value products, including copper alloy ingots and aluminum scraps. With significant permitted annual processing capacity and advanced processing capabilities, One and One provides economical, flexible, and environmentally responsible recycling solutions to manufacturers and industrial clients across domestic and international markets. One and One is strategically positioned to meet the growing demand for sustainable resource management. For more information, please visit our website at www.onepgti.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, statements regarding the Company’s expectations for geographic expansion into Southeast Asia and other international markets; its plans to establish stable raw material sources in Japan and South Korea; its expectations regarding the benefits of its equipment upgrades, gross margin and net income in the second half of 2026, and full-year 2026 growth; the expected timing of production from its new metals recovery line; its intention to recruit an international business development team; and its intention to pursue strategic acquisitions and investments. These statements are identified by words such as “expect,” “anticipate,” “believe,” “intend,” “plan,” “will,” and similar expressions.
Forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied. These factors include, among others, fluctuations in prevailing market prices for copper, aluminum and brass and the Company’s decision not to hedge that exposure; changes in product mix; the Company’s ability to realize the expected operating benefits of its equipment upgrades; the timely commencement of production from its new metals recovery line; the Company’s ability to source adequate volumes of electronic waste and metal scrap on acceptable terms; customer concentration and the collectability of accounts receivable and the loan receivable; the level of inventories carried; political and social instability in the Philippines; inflationary pressures and movements in the Philippine peso against the U.S. dollar; the Company’s ability to maintain and renew its environmental permits and licenses; risks associated with the variable interest entity structure through which the Company conducts its operations; and the additional risks described under “Item 3.D. Risk Factors” in the Company’s annual report on Form 20-F filed with the U.S. Securities and Exchange Commission. Copies are available at www.sec.gov. Except as required by law, the Company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Investor Relations Contact
Matthew Abenante, IRC
President
Strategic Investor Relations, LLC
Tel: 347-947-2093
Email: matthew@strategic-ir.com
| (Financial tables follow) | ||||||||
| ONE AND ONE GREEN TECHNOLOGIES. INC UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS (In U.S. dollar except for share and per share data) | ||||||||
| June 30, 2026 (Unaudited) | December 31, 2025 | |||||||
| ASSETS | ||||||||
| Current Assets | ||||||||
| Cash and cash equivalents | $ | 2,712,933 | $ | 957,285 | ||||
| Accounts receivable, net | 32,745,976 | 26,634,057 | ||||||
| Inventories, net | 17,195,077 | 7,230,581 | ||||||
| Advances to suppliers | 1,351,811 | 1,914,972 | ||||||
| Loan receivable | 1,860,000 | 2,000,000 | ||||||
| Other receivables and current assets | 1,102,301 | 216,042 | ||||||
| Total Current Assets | 56,968,098 | 38,952,937 | ||||||
| Non-Current Assets | ||||||||
| Property, plant and equipment, net | 10,167,824 | 10,284,569 | ||||||
| Deferred tax assets | - | 109,826 | ||||||
| Other non-current assets | 200,000 | 690,135 | ||||||
| Operating lease right-of-use assets, net | 5,810,975 | 6,007,527 | ||||||
| Total Non-Current Assets | 16,178,799 | 17,092,057 | ||||||
| Total Assets | 73,146,897 | 56,044,994 | ||||||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||
| Current Liabilities | ||||||||
| Accounts payable | 4,212,075 | 1,712,220 | ||||||
| Due to related parties | 202,971 | 585,193 | ||||||
| Taxes payable | 8,577,445 | 7,390,025 | ||||||
| Operating lease liabilities – current | - | 641,564 | ||||||
| Other payables and accrued expenses | 427,038 | 579,744 | ||||||
| Total Current Liabilities | 13,419,529 | 10,908,746 | ||||||
| Non-Current Liabilities | ||||||||
| Deferred tax liabilities | 6,540 | - | ||||||
| Operating lease liabilities – non-current | 3,042,152 | 3,301,395 | ||||||
| Other non-current liabilities | 5,984 | 13,727 | ||||||
| Total Non-Current Liabilities | 3,054,676 | 3,315,122 | ||||||
| Total Liabilities | 16,474,205 | 14,223,868 | ||||||
| Commitments and Contingencies (Note 14) | ||||||||
| Shareholders’ Equity | ||||||||
| Class A Ordinary Shares, | 4,583 | 4,410 | ||||||
| Class B Ordinary Shares, | 1,020 | 1,020 | ||||||
| Shares subscription receivable | (5,200 | ) | (5,200 | ) | ||||
| Additional paid-in capital | 22,045,669 | 10,220,329 | ||||||
| Retained earnings | 38,159,356 | 33,666,679 | ||||||
| Accumulated other comprehensive loss | (3,532,736 | ) | (2,066,112 | ) | ||||
| Total Shareholders’ Equity | 56,672,692 | 41,821,126 | ||||||
| Total Liabilities and Shareholders’ Equity | $ | 73,146,897 | $ | 56,044,994 | ||||
| ONE AND ONE GREEN TECHNOLOGIES. INC UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (In U.S. dollar except for share and per share data) | ||||||||
| For the Six months ended June 30, | ||||||||
| 2026 (Unaudited) | 2025 (Unaudited) | |||||||
| Revenues | $ | 33,380,930 | $ | 28,129,714 | ||||
| Cost of revenues | 26,127,199 | 21,008,170 | ||||||
| Gross profit | 7,253,731 | 7,121,544 | ||||||
| Operating expenses: | ||||||||
| Selling and marketing expenses | 219,295 | 249,558 | ||||||
| General and administrative expenses | 2,047,280 | 1,167,954 | ||||||
| Total operating expenses | 2,266,575 | 1,417,512 | ||||||
| Income from operations | 4,987,156 | 5,704,032 | ||||||
| Other income (expenses): | ||||||||
| Interest income | 29,114 | 307 | ||||||
| Other income (expenses), net | 1,120,518 | (790,420 | ) | |||||
| Interest expense | (2,870 | ) | (3,013 | ) | ||||
| Total other income (expenses) | 1,146,762 | (793,126 | ) | |||||
| Income before income tax expenses | 6,133,918 | 4,910,906 | ||||||
| Income tax expenses | 1,641,241 | 1,084,606 | ||||||
| Net income | $ | 4,492,677 | $ | 3,826,300 | ||||
| Weighted average shares outstanding for Class A and Class B ordinary shares | ||||||||
| Basic and diluted | 55,056,538 | 52,000,000 | ||||||
| Earnings per share for Class A and Class B ordinary shares | ||||||||
| Basic and diluted | $ | 0.08 | $ | 0.07 | ||||
| Other comprehensive income (loss): | ||||||||
| Net income | $ | 4,492,677 | $ | 3,826,300 | ||||
| Foreign currency translation adjustment, net of tax of nil | (1,466,624 | ) | 703,331 | |||||
| Total comprehensive income | $ | 3,026,053 | $ | 4,529,631 | ||||
| ONE AND ONE GREEN TECHNOLOGIES. INC UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In U.S. dollar except for share and per share data) | ||||||||
| For the Six months ended June 30, | ||||||||
| 2026 (Unaudited) | 2025 (Unaudited) | |||||||
| Cash flows from operating activities | ||||||||
| Net income | $ | 4,492,677 | $ | 3,826,300 | ||||
| Adjustments to reconcile net income to net cash provided by operating activities | ||||||||
| Depreciation of property, plant and equipment | 434,996 | 456,709 | ||||||
| Amortization of operating lease right-of-use assets | (50,329 | ) | 79,867 | |||||
| Deferred income tax | 114,558 | (1,145 | ) | |||||
| Amortization of deferred expenses | 206,404 | - | ||||||
| Changes in assets and liabilities | ||||||||
| Accounts receivable | (7,373,982 | ) | 667,809 | |||||
| Inventories | (10,506,363 | ) | (15,034,423 | ) | ||||
| Advances to suppliers | 496,473 | - | ||||||
| Other receivables and current assets | (1,113,176 | ) | (327 | ) | ||||
| Other non-current assets | 477,789 | - | ||||||
| Accounts payable | 2,631,534 | 7,149,232 | ||||||
| Other payables and accrued expenses | (137,946 | ) | 538,611 | |||||
| Taxes payable | 1,525,401 | 1,079,500 | ||||||
| Due to related parties | (372,251 | ) | (28,714 | ) | ||||
| Operating lease liabilities | (757,286 | ) | (465,891 | ) | ||||
| Net cash used in operating activities | (9,931,501 | ) | (1,732,472 | ) | ||||
| Cash flows from investing activities | ||||||||
| Purchase of property, plant and equipment | (746,169 | ) | - | |||||
| Collection of loan receivable | 140,000 | - | ||||||
| Net cash used in investing activities | (606,169 | ) | - | |||||
| Cash flows from financing activities | ||||||||
| Payment of deferred offering costs | - | (25,516 | ) | |||||
| Net proceeds from share and warrants issuance | 11,825,513 | - | ||||||
| Principal payments on financed amount for purchase of vehicle | (7,353 | ) | - | |||||
| Net cash provided by (used in) financing activities | 11,818,160 | (25,516 | ) | |||||
| Effect of exchange rate changes on cash and cash equivalents | 475,158 | 32,921 | ||||||
| Net (decrease) increase of cash and cash equivalents | 1,755,648 | (1,725,067 | ) | |||||
| Cash and cash equivalents – beginning of the year | 957,285 | 1,847,634 | ||||||
| Cash and cash equivalents – end of the year | $ | 2,712,933 | $ | 122,567 | ||||
| Supplementary cash flow information: | ||||||||
| Interest paid | $ | 2,870 | $ | 3,013 | ||||
| Income taxes paid | $ | 1,252 | $ | 978 | ||||
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FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How did One and One Green Technologies perform in the first half of 2026?
Revenue rose 18.7% to $33.38 million, and net income rose 17.4% to $4.49 million from the first half of 2025. Basic and diluted earnings per share were $0.08, compared with $0.07.
Why did One and One Green Technologies' gross margin fall in the first half of 2026?
Gross margin narrowed to 21.73% from 25.32%. Aluminum processing was suspended for roughly six weeks during an equipment upgrade while related costs continued. Higher raw material purchase prices also contributed; cost per kilogram sold rose 38.8%, versus a 32.5% rise in realized price per kilogram sold.
How did One and One Green Technologies fund its working-capital growth in the first half of 2026?
Net proceeds from an April 2026 follow-on public offering and retained earnings supported increased inventory and receivables. Working capital reached $43.55 million at June 30, 2026, compared with $28.04 million at December 31, 2025. Share and warrant issuance generated $11,825,513 in net proceeds.