Strong FY2025 results confirm robust growth trajectory, with revenue and earnings both accelerating. However, negative operating cash flow and recent equity offering (dilutive ~3.8% on basic shares) temper enthusiasm. Monitor cash conversion cycle and next quarter's preliminary metrics for sustainability of growth. The stock's low liquidity and small cap warrant careful position sizing.
Price Chart
Executive Summary
One and one Green Technologies (YDDL) filed its audited FY2025 annual report (20-F) showing revenue of $65.8M (+23% YoY) and net income of $11.8M (+82% YoY), with EPS rising to $0.2254 from $0.1246. The strong operational performance confirms preliminary results from mid-April, though the company continues to report material weaknesses in internal controls and carries risks from its VIE structure and customer concentration.
Key Facts
- FY2025 revenue of $65,822,739, up 23.12% from $53,463,785 in FY2024
- FY2025 net income of $11,811,614, up 82.37% from $6,476,772 in FY2024
- EPS increased to $0.2254 (diluted) from $0.1246
- Gross margin improved to 23.94% from 19.77%
- Operating cash flow negative $9.7M due to working capital build
- Subsequent $13M follow-on offering closed April 13, 2026
- Material weaknesses in internal controls over financial reporting remain
Financial Impact
Revenue growth of $12.4M and net income growth of $5.3M YoY
Risk Factors
- Material weaknesses in internal controls increase financial reporting risk
- Negative operating cash flow of $9.7M despite profitability
- Customer concentration (three customers >94% of revenue)
- VIE structure and controlling shareholder (91% voting power) governance risks
- No commercial insurance coverage
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 9 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 20-F Filing (Primary) | 0001213900-26-048051 |
| Document: ea028690201ex2-1.htm | 0001213900-26-048051 |
| Document: ea028690201ex12-2.htm | 0001213900-26-048051 |
| Document: ea028690201ex12-1.htm | 0001213900-26-048051 |
| Document: ea028690201ex13-2.htm | 0001213900-26-048051 |
| Document: ea028690201ex13-1.htm | 0001213900-26-048051 |
| Document: 0001213900-26-048051-index-headers.html | 0001213900-26-048051 |
| Document: 0001213900-26-048051-index.html | 0001213900-26-048051 |
| Document: 0001213900-26-048051.txt | 0001213900-26-048051 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 29, 2026 27d ago | Press Release | $1.42 $1.38 | ▼ −2.82% | ▼ −4.77% | $1.19 (−16.20%) |
Sep 29, 2026 27d ago | 6-K | $1.42 $1.38 | ▼ −2.82% | ▼ −4.77% | $1.19 (−16.20%) |
Aug 21, 2026 9w ago | EFFECT | $1.72 $1.65 | ▼ −4.07% | ▼ −4.54% | $1.19 (−30.81%) |
Jun 1, 2026 21w ago | Press Release | $3.32 $2.71 | ▼ −18.37% | ▼ −15.62% | $1.19 (−64.16%) |
May 27, 2026 21w ago | EFFECT | $3.38 $3.20 | ▲ +5.33% | ▲ +5.79% | $1.19 (+64.79%) |
May 19, 2026 22w ago | Press Release | $4.04 $3.32 | ▼ −17.95% | ▼ −20.19% | $1.19 (−70.54%) |
May 18, 2026 22w ago | F-1 | $4.04 $3.38 | ▼ −16.34% | ▼ −18.63% | $1.19 (−70.54%) |
Apr 27, 2026 26w ago | 20-F | $5.08 $5.01 | ▼ −1.38% | ▼ −3.07% | $1.19 (−76.57%) |
Apr 22, 2026 26w ago | 6-K | $4.99 $5.14 | ▲ +3.01% | ▲ +2.95% | $1.19 (−76.15%) |
Apr 22, 2026 26w ago | Press Release | $4.99 $5.14 | ▲ +3.01% | ▲ +2.95% | $1.19 (−76.15%) |
US Market Status
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