Welcome to our dedicated page for It Tech Packaging news (Ticker: ITP), a resource for investors and traders seeking the latest updates and insights on It Tech Packaging stock.
IT Tech Packaging Inc. (ITP) provides essential updates for stakeholders tracking this North China-based paper manufacturer. This comprehensive news hub aggregates official announcements, operational developments, and strategic initiatives from the NYSE American-listed producer of corrugating medium paper and recycled material products.
Investors and industry observers will find timely updates covering production milestones, financial disclosures, and market expansion efforts. The curated collection includes earnings releases, manufacturing process innovations, sustainability initiatives, and leadership updates relevant to the packaging and recycled materials sectors.
Key focus areas mirror the company's operational segments: updates from Dongfang Paper's corrugating medium production, Tengsheng Paper's offset printing developments, and Baoding Shengde's specialty paper lines. Content maintains strict adherence to factual reporting without speculative commentary, aligned with financial compliance standards.
For consistent monitoring of ITP's market position in China's competitive paper industry, bookmark this page for direct access to primary source materials. Check regularly for updates on raw material strategies, production capacity changes, and environmental compliance developments impacting this recycled paper specialist.
IT Tech Packaging (NYSE American: ITP) reported Q3 2024 financial results showing revenue increased by 59.03% to $25.08 million, driven by higher sales volume of corrugating medium paper (CMP). Gross profit improved to $1.92 million from a loss of $0.15 million year-over-year. The company reported a net loss of $1.97 million, or $0.20 per share, while EBITDA increased to $2.03 million from $1.69 million. CMP products accounted for 99.85% of total revenue, with sales volume reaching 74,884 tonnes at an average selling price of $334/tonne.
IT Tech Packaging (NYSE American: ITP) held its 2024 Annual General Meeting of Stockholders on October 31, 2024, at its production base in Wei County, Hebei Province, China. Stockholders approved several key measures including: the election of three Class II directors (Zhengyong Liu, Fuzeng Liu and Lusha Niu) to serve until 2026, the appointment of GGF CPA as the independent auditor for fiscal year 2024, the compensation of named executive officers, and established a three-year frequency for future executive compensation advisory votes.
IT Tech Packaging, Inc. (NYSE American: ITP), a leading paper products manufacturer in North China, reminds stockholders to vote 'FOR' the company's proposals at the upcoming annual meeting on October 31, 2024. The meeting will be held at ITP's production base in Wei County, Hebei Province, China. Stockholders of record as of September 6, 2024 are eligible to vote.
The company emphasizes the importance of every vote, regardless of the number of shares held, to meet the quorum requirement. Failure to achieve quorum may result in meeting postponement, increasing costs and delaying NYSE listing requirement satisfaction. Stockholders who haven't received meeting materials or need assistance with voting can contact Advantage Proxy, Inc. at 1-877-870-8565 or 1-206-870-8565.
IT Tech Packaging, Inc. (NYSE American: ITP) has announced its 2024 annual meeting of stockholders to be held on October 31, 2024 at its production base in Wei County, Hebei Province, China. The meeting will address key proposals including the election of three Class II directors, a 'say-on-pay' advisory vote on executive compensation, an advisory vote on the frequency of future executive compensation votes, and the ratification of GGF CPA as the company's independent registered public accounting firm for fiscal year 2024. Stockholders of record as of September 6, 2024 are eligible to vote. The company has filed a definitive proxy statement with the SEC, which is available for review along with other meeting materials on the SEC's website and the company's website.
IT Tech Packaging (NYSE American: ITP) reported its Q2 2024 unaudited financial results. Revenue decreased 12.56% to $26.25 million, primarily due to production suspension of offset printing paper and tissue paper products. Gross profit increased 176.75% to $3.27 million, with gross margin improving to 12.44%. The company reported operating income of $0.55 million, compared to a loss of $0.52 million in Q2 2023. Net loss narrowed to $0.08 million ($0.01 per share) from $1.25 million ($0.12 per share) last year. EBITDA rose 38.87% to $3.93 million. CMP products accounted for 99.86% of total revenue. The company's cash position improved to $5.14 million as of June 30, 2024, up from $3.92 million at the end of 2023.
IT Tech Packaging, Inc. announced unaudited financial results for Q1 2024, reporting a revenue of $6.86 million with a profit of $0.40 million. Despite industry challenges, the company aims to optimize operations and explore new markets for growth.
