To The Moon

• Revenues Up 18.7% to $33.4 Million

• Net Income Up 17.4% to $4.5 Million

• Copper Alloy Revenue Up 39%

$One and one Green(YDDL)$ recently reported financial results for the six months ended June 30, 2026.

Revenues rose 18.7% to $33.38 million from $28.13 million, and net income rose 17.4% to $4.49 million from $3.83 million. The increase occurred despite a 10.4% decrease in total material shipped, as the Company reallocated processing capacity to copper alloy ingots. Copper alloy volume rose 29.1%, and copper alloy ingots accounted for 77.0% of total revenue compared with 65.8% a year earlier.

Gross margin narrowed to 21.73% from 25.32%. The decrease reflected the equipment upgrade, during which period aluminum processing was suspended for approximately six weeks of the first half while related costs continued to be incurred, together with higher raw material purchase prices across product categories. Realized price per kilogram sold rose 32.5%, while cost per kilogram sold rose 38.8%.

REVENUE AND PRODUCT MIX Revenues were $33.38 million, an increase of $5.25 million, or 18.67%, from $28.13 million. Copper alloy ingot revenue rose 38.9% to $25.71 million from $18.51 million on volume growth of 29.10%, reflecting stronger demand across key end markets in the Asia-Pacific region. Aluminum alloy revenue was $6.42 million compared with $8.61 million, primarily reflecting the suspension of aluminum processing from mid-May through the end of the period while the Company upgraded its aluminum processing equipment, together with the reallocation of capacity to copper alloy ingots. Aluminum production resumed in July 2026. Brass alloy ingot revenue rose 25.0% to $1.25 million.

COST OF REVENUE AND GROSS MARGIN Cost of revenue was $26.13 million, an increase of 24.37% from $21.01 million, notwithstanding a 10.41% decline in total sales quantity. The increase reflected the shift in product mix toward copper alloy ingots, which carry a materially higher unit cost than aluminum alloy, the suspension of aluminum processing during the equipment upgrade, and higher raw material purchase prices across product categories. Gross profit was $7.25 million, up 1.86%. The Company does not use derivative instruments to hedge its exposure to metal prices.

OPERATING INCOME AND NET INCOME Income from operations was $4.99 million compared with $5.70 million. Income before income taxes rose 24.9% to $6.13 million, and net income rose 17.42% to $4.49 million.

BALANCE SHEET, WORKING CAPITAL, AND LIQUIDITY As of June 30, 2026, cash and cash equivalents were $2.71 million compared with $957,285 as of December 31, 2025. Total assets were $73.15 million compared with $56.04 million, total liabilities were $16.47 million compared with $14.22 million, and total shareholders’ equity was $56.67 million compared with $41.82 million. Working capital was $43.55 million compared with $28.04 million.

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 $17.20 million, and accounts receivable increased to $32.75 million. The Company has no interest-bearing debt other than a vehicle financing arrangement with an outstanding balance of $20,346 as of June 30, 2026.

MANAGEMENT COMMENTARY

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 39% in the first half as we pointed our capacity at the strongest demand in Asia-Pacific, and we have built our inventory position ahead of second-half orders. Our new metals recovery line, for which we have already procured more than 2,000 tons of raw material, is on track to begin production before year-end and will add a new source of revenue.”

“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.”