Locked In: Why Insiders Are Betting on a Philippine Recycling Powerhouse

SAN RAFAEL, BULACAN, PHILIPPINES – June 24, 2026 – In a market often swayed by fleeting trends and quarterly pressures, a resounding statement of long-term belief can be a rare and powerful signal. That signal is now flashing brightly from One and One Green Technologies (NASDAQ: YDDL), a Philippines-based recycler, where a supermajority of its largest shareholders have voluntarily chained their fortunes to the company’s future, agreeing to not sell a single share for another six months.

On Monday, the company announced that shareholders representing a staggering 67.7% of its Class A ordinary shares—approximately 31 million shares in total—have extended a lock-up agreement, preventing the sale of their holdings until January 9, 2027. This isn't a move dictated by underwriters or regulators; it is a voluntary pact, a collective decision by the company’s most significant backers to double down on their investment. In a world of high-frequency trading, this is the equivalent of planting a flag and declaring a long-term commitment to the territory.

This extension follows a previous voluntary lock-up by insiders, creating a pattern of deliberate action designed to project stability and unwavering confidence. For a company whose stock has seen significant volatility since its public debut, dropping from a 52-week high of over $16 to its current trading price below $3, this move by entities like One and one International Limited, BOYUO International Limited, and others is particularly telling. It’s a calculated decision to weather the storm, grounded in a belief that the company’s intrinsic value far exceeds its current market perception.

A Calculated Bet on Long-Term Value

This isn't the first time these shareholders have opted to restrict their own liquidity. The current six-month extension builds upon a previous three-month voluntary lock-up that was set to expire on July 9, 2026. This sequential commitment suggests a coordinated strategy to insulate the company from the kind of selling pressure that often plagues newly public companies after initial lock-up periods expire, allowing management to execute its strategy without the distraction of a fluctuating stock price.

“This voluntary commitment reflects the confidence that our significant shareholders have in the Company’s long-term prospects and growth opportunities,” said Ms. Tina Yan, the company’s Chair and Chief Executive Officer, in a statement. “As we continue to expand our recycling capabilities, advance new resource recovery initiatives and strengthen our vertically integrated operating platform, we remain focused on executing our strategy and creating sustainable long-term value for shareholders.”

While confidence is the official narrative, the move also serves a critical strategic purpose. By taking a massive chunk of the share supply off the market, the lock-up helps manage potential volatility and supports the stock price. This stability was likely a factor in the company’s ability to successfully raise $13 million in a follow-on offering to institutional investors this past April. A stable shareholder base is a valuable asset, signaling to the broader market that those with the most intimate knowledge of the company are not heading for the exits. They are, in fact, locking the doors from the inside.

The Engine Room: Recycling, Growth, and a Greener Future

The confidence displayed by these shareholders isn't born in a vacuum. It’s fueled by One and One’s tangible progress and its strategic position within a critical and growing global industry. The company is not merely a name on a stock ticker; it is a key player in the Philippines' effort to manage hazardous waste, holding a coveted government license to import and process materials like electronic waste and scrap metal.

In its facilities, the complex detritus of our digital age is transformed into high-value commodities—copper alloy ingots, aluminum scraps, and plastic beads—feeding the circular economy. This is the real-world system that underpins the financial maneuverings. The company's recent activities paint a picture of aggressive, multi-pronged growth. In April, it launched a new venture in the Luzon region to recover valuable materials from copper-gold ore tailings, diversifying its resource stream. In the same month, it secured its first European e-waste supply agreement, expanding its sourcing operations beyond Asia and demonstrating a global reach.

These strategic moves are backed by impressive financial momentum. While its fiscal year 2025 results are still pending audit, One and One has projected revenues to grow by up to 24% year-over-year, with net income expected to surge by a remarkable 80% to 85%. This potent combination of operational expansion and robust financial performance provides the fundamental justification for its shareholders’ loyalty. They aren’t just betting on a stock; they are investing in an operational engine that is scaling rapidly to meet a pressing global need.

The Architecture of Alignment: Governance in Focus

The lock-up does more than just signal confidence; it fundamentally shapes the company's corporate governance structure, creating an architecture of profound alignment between major owners and management. With nearly 70% of the Class A shares solidified in a single voting bloc, Ms. Yan and her team are afforded a rare luxury in public markets: the freedom to pursue a long-term vision without being held hostage by short-term sentiment.

This concentration of power is further amplified by the company's dual-class share structure, where Class B shares carry 20 times the voting power of Class A shares. This creates a fortress of control, insulating strategic decision-making from outside influence. For a company in a capital-intensive industry with long project horizons, this stability can be a superpower, enabling investments in new technologies—like the recently announced in-house chemical testing laboratory—and bold international expansion.

However, such tight control also raises important questions about the role and influence of minority shareholders. While the lock-up protects all investors from a precipitous drop caused by insider selling, it also solidifies a power structure where a small group's vision is paramount. The challenge for One and One will be to demonstrate that this powerful alignment serves the long-term interests of all stakeholders, not just the insiders. The company's success in building a sustainable and profitable business will be the ultimate test of a governance model that so explicitly prioritizes stability and strategic patience over market democracy.