secwatch.observer — SEC 8-K summary
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Issuer:     IT TECH PACKAGING, INC. (ITP)
CIK:        0001358190
Form:       8-K
Filed at:   2023-05-11T23:59:59+00:00
Accession:  0001213900-23-038568
Event type: earnings
Sentiment:  negative
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1358190/000121390023038568/0001213900-23-038568-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1358190/000121390023038568/ea178407-8k_ittechpack.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-038568

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer