v3.26.1
INVESTMENT IN EQUITY SECURITIES
 6 Months Ended
Jun. 30, 2026
Equity Method Investments and Joint Ventures [Abstract]  
INVESTMENT IN EQUITY SECURITIES INVESTMENT IN EQUITY SECURITIES
Our investment in equity securities consisted of the following:
June 30,
2026		December 31,
2025
Equity Method Investments:
Goldrain$108,974 $104,112 
Sonmol5,287 5,044 
Others5,164 5,392 
Other Investments:
PureCycle2,215 2,503 
YAT5,600 5,433 
Others7,511 8,546 
$134,751 $131,030 
Equity Method Investments
Goldrain
On October 22, 2024, we acquired 40% of the equity interests in Ningbo Jinyu Technology Industry Co., Ltd., doing business as Goldrain, a leading manufacturer of dispensing technologies in China for an approximate purchase price of $99.0 million. Goldrain is a leading manufacturer specializing in developing and producing packages for skincare, cosmetic, household, cleaning, personal care and perfumery products. Additionally, we noted an initial basis difference between our investment in the business and the amount recorded in Goldrain's equity of $82.7 million including equity method goodwill that will not be amortized. The future amortizable basis difference of $14.7 million as of December 31, 2024 was comprised of intangible assets which are being amortized on a straight line basis over a weighted average useful life of 11.8 years.
Other Investments
In prior years, we also invested, through a series of transactions, $3.0 million in PureCycle and received $0.7 million of equity in exchange for our resource dedication for technological partnership and support. In March 2021, PureCycle became a publicly-traded company and listed its common stock on Nasdaq under the ticker symbol “PCT.” At that time, our investment in PureCycle was converted into shares of common stock of PCT resulting in less than a 1% ownership interest. This investment is now recorded at fair value based on observable market prices for identical assets and the change in fair value is recorded as a net investment gain or loss in the Condensed Consolidated Statements of Income.
We have sold the following PCT shares related to the PureCycle investment:
Shares SoldProceedsRealized Gain
Q2 202618,295$139 $88 
No shares were sold during 2025 related to PCT.
For the three and six months ended June 30, 2026 and 2025, we recorded the following net investment gain (loss) on our investment in PureCycle:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Net investment gain (loss)$937 $2,102 $(149)$1,006 
During the first half of 2026, we recorded a $0.9 million impairment to our investment in MIWA Technologies. There were no other indications of impairment noted in the six months ended June 30, 2026 and 2025.