secwatch.observer — SEC 8-K summary
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Issuer:     IT TECH PACKAGING, INC. (ITP)
CIK:        0001358190
Form:       8-K
Filed at:   2023-11-13T23:59:59+00:00
Accession:  0001213900-23-085451
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

IT Tech Packaging Q3 revenue down 50% YoY to $15.77M; net loss $1.98M
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- Revenue fell 50.26% YoY to $15.77M driven by 38% drop in CMP volume and lower ASPs.
- Net loss of $1.98M ($0.20 per share) vs net loss of $1.89M ($0.19 per share) in Q3 2022.
- Gross loss of $0.15M vs gross profit of $2.78M; gross margin turned negative at -0.97%.
- Operating loss widened to $2.48M from $0.59M; EBITDA fell 30% to $1.69M.
- Regular CMP ASP dropped to $350/tonne from $435/tonne; Light-weight CMP ASP $340/tonne vs $423/tonne.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1358190/000121390023085451/0001213900-23-085451-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1358190/000121390023085451/ea188085-8k_ittechpack.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-085451

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