{"id":28743,"date":"2024-08-12T20:30:00","date_gmt":"2024-08-12T20:30:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/4481165_CN81165_0"},"modified":"2024-08-12T20:30:00","modified_gmt":"2024-08-12T20:30:00","slug":"it-tech-packaging-inc-announces-second-quarter-2024-unaudited-financial-results","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=28743","title":{"rendered":"IT Tech Packaging, Inc. Announces Second Quarter 2024 Unaudited Financial Results"},"content":{"rendered":"
\n

BAODING, China<\/span><\/span>, Aug. 13, 2024<\/span><\/span> \/PRNewswire\/ — IT Tech Packaging, Inc. (NYSE American: ITP) (“IT Tech Packaging” or the “Company”), a leading manufacturer and distributor of diversified paper products in North China<\/span>, today announced its unaudited financial results for the second quarter ended June 30, 2024<\/span>.<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

Second Quarter 2024 Unaudited Financial Results<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n\n

For the Three Months Ended June 30,<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

 ($ millions)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

2024<\/span><\/p>\n<\/td>\n

<\/td>\n\n

2023<\/span><\/p>\n<\/td>\n

<\/td>\n\n

% Change<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

 Revenues<\/span><\/p>\n<\/td>\n

<\/td>\n\n

26.25<\/span><\/p>\n<\/td>\n

<\/td>\n\n

30.02<\/span><\/p>\n<\/td>\n

<\/td>\n\n

-12.56 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

 Regular Corrugating Medium Paper (“CMP”)*<\/span><\/p>\n<\/td>\n

<\/td>\n\n

21.98<\/span><\/p>\n<\/td>\n

<\/td>\n\n

21.93<\/span><\/p>\n<\/td>\n

<\/td>\n\n

0.24 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

 Light-Weight CMP**<\/span><\/p>\n<\/td>\n

<\/td>\n\n

4.23<\/span><\/p>\n<\/td>\n

<\/td>\n\n

4.54<\/span><\/p>\n<\/td>\n

<\/td>\n\n

-6.93 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

 Offset Printing Paper<\/span><\/p>\n<\/td>\n

<\/td>\n\n

–<\/span><\/p>\n<\/td>\n

<\/td>\n\n

3.16<\/span><\/p>\n<\/td>\n

<\/td>\n\n

n\/a<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

 Tissue Paper Products<\/span><\/p>\n<\/td>\n

<\/td>\n\n

–<\/span><\/p>\n<\/td>\n

<\/td>\n\n

0.34<\/span><\/p>\n<\/td>\n

<\/td>\n\n

n\/a<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

  Face Masks<\/span><\/p>\n<\/td>\n

<\/td>\n\n

–<\/span><\/p>\n<\/td>\n

<\/td>\n\n

0.04<\/span><\/p>\n<\/td>\n

<\/td>\n\n

n\/a<\/span><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

 Gross profit (loss)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

3.27<\/span><\/p>\n<\/td>\n

<\/td>\n\n

1.18<\/span><\/p>\n<\/td>\n

<\/td>\n\n

176.75 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

 Gross profit margin<\/span><\/p>\n<\/td>\n

<\/td>\n\n

12.44 %<\/span><\/p>\n<\/td>\n

<\/td>\n\n

3.93 %<\/span><\/p>\n<\/td>\n

<\/td>\n\n

8.51 pp****<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

 Regular Corrugating Medium Paper (“CMP”)*<\/span><\/p>\n<\/td>\n

<\/td>\n\n

12.22 %<\/span><\/p>\n<\/td>\n

<\/td>\n\n

6.81 %<\/span><\/p>\n<\/td>\n

<\/td>\n\n

5.41 pp****<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

 Light-Weight CMP**<\/span><\/p>\n<\/td>\n

<\/td>\n\n

12.82 %<\/span><\/p>\n<\/td>\n

<\/td>\n\n

7.14 %<\/span><\/p>\n<\/td>\n

<\/td>\n\n

5.68 pp****<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

 Offset Printing Paper<\/span><\/p>\n<\/td>\n

<\/td>\n\n

–<\/span><\/p>\n<\/td>\n

<\/td>\n\n

2.42 %<\/span><\/p>\n<\/td>\n

<\/td>\n\n

n\/a<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

 Tissue Paper Products***<\/span><\/p>\n<\/td>\n

<\/td>\n\n

–<\/span><\/p>\n<\/td>\n

<\/td>\n\n

-206.06 %<\/span><\/p>\n<\/td>\n

<\/td>\n\n

n\/a<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

 Face Masks<\/span><\/p>\n<\/td>\n

<\/td>\n\n

–<\/span><\/p>\n<\/td>\n

<\/td>\n\n

-8.06 %<\/span><\/p>\n<\/td>\n

<\/td>\n\n

n\/a<\/span><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

 Operating income (loss)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

0.55<\/span><\/p>\n<\/td>\n

<\/td>\n\n

-0.52<\/span><\/p>\n<\/td>\n

<\/td>\n\n

205.60 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

 Net income (loss)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

-0.08<\/span><\/p>\n<\/td>\n

<\/td>\n\n

-1.25<\/span><\/p>\n<\/td>\n

<\/td>\n\n

93.80 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

 EBITDA<\/span><\/p>\n<\/td>\n

<\/td>\n\n

3.93<\/span><\/p>\n<\/td>\n

<\/td>\n\n

2.83<\/span><\/p>\n<\/td>\n

<\/td>\n\n

38.87 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

 Basic and Diluted earnings (loss) per share<\/span><\/p>\n<\/td>\n

<\/td>\n\n

-0.01<\/span><\/p>\n<\/td>\n

<\/td>\n\n

-0.12<\/span><\/p>\n<\/td>\n

<\/td>\n\n

-93.33 %<\/span><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

 * Products from PM6<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

 ** Products from PM1<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

 *** Products from PM8 and PM9<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

 **** pp represents percentage points<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n