{"id":31445,"date":"2024-11-15T22:27:00","date_gmt":"2024-11-15T22:27:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/4554185_CN54185_0"},"modified":"2024-11-15T22:27:00","modified_gmt":"2024-11-15T22:27:00","slug":"it-tech-packaging-inc-announces-third-quarter-2024-unaudited-financial-results","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=31445","title":{"rendered":"IT Tech Packaging Inc. Announces third Quarter 2024 Unaudited Financial Results"},"content":{"rendered":"
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BAODING, China<\/span><\/span>, Nov. 16, 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 nine and three months ended September 30, 2024<\/span>.<\/p>\n

Third Quarter 2024 Unaudited Financial Results<\/b><\/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
<\/td>\n\n

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

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 ($ millions)<\/span><\/i><\/span><\/p>\n<\/td>\n

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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

\n

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

<\/td>\n\n

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

<\/td>\n\n

59.03 %<\/span><\/p>\n<\/td>\n<\/tr>\n

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

\n

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

<\/td>\n\n

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

<\/td>\n\n

74.93 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

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

<\/td>\n\n

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

<\/td>\n\n

19.16 %<\/span><\/p>\n<\/td>\n<\/tr>\n

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

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–<\/span><\/p>\n<\/td>\n

<\/td>\n\n

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

<\/td>\n\n

–<\/span><\/p>\n<\/td>\n<\/tr>\n

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

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–<\/span><\/p>\n<\/td>\n

<\/td>\n\n

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

<\/td>\n\n

–<\/span><\/p>\n<\/td>\n<\/tr>\n

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  Face Masks<\/span><\/p>\n<\/td>\n

\n

–<\/span><\/p>\n<\/td>\n

<\/td>\n\n

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

<\/td>\n\n

–<\/span><\/p>\n<\/td>\n<\/tr>\n

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

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

<\/td>\n\n

(0.15)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

1351.37 %<\/span><\/p>\n<\/td>\n<\/tr>\n

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

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7.64 %<\/span><\/p>\n<\/td>\n

<\/td>\n\n

-0.97 %<\/span><\/p>\n<\/td>\n

<\/td>\n\n

8.61pp***<\/span><\/p>\n<\/td>\n<\/tr>\n

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

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7.54 %<\/span><\/p>\n<\/td>\n

<\/td>\n\n

7.01 %<\/span><\/p>\n<\/td>\n

<\/td>\n\n

0.53pp****<\/span><\/p>\n<\/td>\n<\/tr>\n

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

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7.33 %<\/span><\/p>\n<\/td>\n

<\/td>\n\n

-7.47 %<\/span><\/p>\n<\/td>\n

<\/td>\n\n

14.80pp****<\/span><\/p>\n<\/td>\n<\/tr>\n

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

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–<\/span><\/p>\n<\/td>\n

<\/td>\n\n

7.53 %<\/span><\/p>\n<\/td>\n

<\/td>\n\n

–<\/span><\/p>\n<\/td>\n<\/tr>\n

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

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–<\/span><\/p>\n<\/td>\n

<\/td>\n\n

-278.10 %<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/tr>\n
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 Face Masks<\/span><\/p>\n<\/td>\n

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–<\/span><\/p>\n<\/td>\n

<\/td>\n\n

-15.75 %<\/span><\/p>\n<\/td>\n

<\/td>\n\n

–<\/span><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
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 Operating income\uff08loss\uff09<\/span><\/p>\n<\/td>\n

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(1.46)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(2.48)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

-41.07 %<\/span><\/p>\n<\/td>\n<\/tr>\n

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

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(1.97)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(1.98)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

-0.07 %<\/span><\/p>\n<\/td>\n<\/tr>\n

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 EBITDA<\/span><\/p>\n<\/td>\n

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

<\/td>\n\n

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

<\/td>\n\n

20.12 %<\/span><\/p>\n<\/td>\n<\/tr>\n

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

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(0.20)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(0.20)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

–<\/span><\/p>\n<\/td>\n<\/tr>\n

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

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

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

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

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

 <\/p>\n