secwatch.observer — SEC 8-K summary
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Issuer:     IT TECH PACKAGING, INC. (ITP)
CIK:        0001358190
Form:       8-K
Filed at:   2024-05-13T23:59:59+00:00
Accession:  0001213900-24-042347
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

IT Tech Packaging Q1 revenue down 65% to $6.86M; net loss widens to $3.75M
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- Revenue $6.86M, down 65% YoY; net loss $3.75M ($0.37 loss per share) vs $2.73M loss in Q1 2023.
- Production suspension of corrugating medium paper in Jan/Feb and tissue paper products in Q1 drove decline.
- Gross profit turned positive to $0.40M (margin 5.81%) vs gross loss of $0.28M a year ago.
- Operating loss $3.50M; EBITDA -$0.02M vs positive $1.21M prior year.
- Cash $4.51M, short-term debt $9.69M; working capital $5.44M; operating cash flow $0.62M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1358190/000121390024042347/0001213900-24-042347-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1358190/000121390024042347/ea0205913-8k_ittech.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-042347

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