IT Tech Packaging Q1 revenue up 28% to $19.79M but net loss widens to $2.73M

IT TECH PACKAGING, INC.

2023-Q1 EPS reported -$0.27 revenue$19,790,877

Revenue $19.79M (+27.8% YoY) driven by 71% higher CMP volumes; ASP fell to $396/tonne from $523.
Gross loss of $0.28M vs. gross profit of $0.31M a year ago; gross margin turned negative at -1.40%.
Net loss $2.73M (loss per share $0.27) vs. $2.49M ($0.25) in Q1 2022; EBITDA held flat at $1.21M.
Tissue paper revenue down 44% to $0.22M; face mask revenue down 37% to $36K.
Cash & equivalents $16.75M; working capital $33.35M vs. $29.53M at Dec 31, 2022.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

IT TECH PACKAGING, INC. reported first quarter ended March 31, 2023 results: revenue approximately $19.79 million.

Period: first quarter ended March 31, 2023
Revenue: approximately $19.79 million
Result: reported results

Exact text from the filing

31, 2023. Mr. Zhenyong Liu, Chairman and Chief Executive Officer of the Company, commented,“In the first quarter of 2023, we had the revenue increased by 27.83% to approximately $19.79million.As the Chinese government carried out a serious economic stimulus and support policies, this will definitely improve the demand and overall operating environment for paper-making

View on SEC.gov

326 earnings releases filed in the last 30 days. Browse all earnings releases →

IT TECH PACKAGING, INC. filing history →

Source: SEC EDGAR

accession 0001213900-23-038568

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.