secwatch.observer — SEC 8-K summary
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Issuer:     IT TECH PACKAGING, INC. (ITP)
CIK:        0001358190
Form:       8-K
Filed at:   2023-08-10T23:59:59+00:00
Accession:  0001213900-23-065639
Event type: earnings
Sentiment:  negative
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

IT Tech Packaging Q2 net loss widens to $1.25M; revenue down 5.6% YoY
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- Q2 2023 revenue $30.02M, down 5.56% YoY; net loss $1.25M vs $0.29M loss in Q2 2022; EPS -$0.12.
- H1 2023 net loss $3.99M vs $2.78M loss in H1 2022; revenue $49.81M up 5.37% YoY.
- Regular CMP ASP fell to $365/tonne in Q2 from $479/tonne a year ago; total CMP volume increased.
- Gross profit improved to $1.18M (3.93% margin) from $0.63M (1.99%) in Q2 2022, but net loss worsened.
- Management expects profitability recovery in H2 2023 via asset utilization and new market channels.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1358190/000121390023065639/0001213900-23-065639-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1358190/000121390023065639/ea183266-8k_ittechpack.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-065639

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