ITP Q3 2021: Revenue $45.1M (+35% YoY), net income $1.5M; gross margin shrinks to 4% from 7.7%

IT TECH PACKAGING, INC.

2021-Q3 EPS reported -$0.06 revenue$115,832,013

Revenue $45.1M (+35% YoY); gross profit $1.82M (4.04% margin), down from $2.57M (7.70%).
Operating loss $0.20M vs income $0.18M; net income $1.54M vs loss $0.52M; diluted EPS $0.03 vs ($0.02).
Regular CMP revenue $31.2M (+60%) on 61.9K tonnes at ASP $504/tonne (+24%); light-weight CMP +21%.
Nine-month revenue $115.83M (+69%); management expects stronger Q4 due to supply shortage and price increases.
Annual meeting: elected Class I directors Marco Ku Hon Wai and Wenbing Christopher Wang; ratified WWC; approved 2021 Omnibus Equity Incentive Plan.

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