Second Quarter 2023 Financial Results Presentation
Safe Harbor Statement
This presentation contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, anticipated revenues from the digital photo paper business segment; the actions and initiatives of current and potential competitors; the Company's ability to introduce new products; the Company's ability to implement the planned capacity expansion of corrugate medium paper; market acceptance of new products; general economic and business conditions; the ability to attract or retain qualified senior management personnel and research and development staff; and other risks detailed in the Company's filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the companies and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
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Agenda
Key Highlights
Financial & Business Review
Operational & Business Updates
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KEY HIGHLIGHTS
Key Highlights for Q2 2023
Revenue decreased by 5.6% YoY to $30.0 million, mainly due to the decrease of average selling prices of corrugating medium paper ("CMP"), partially offset by the increase in sales volume of CMP and offset printing paper.
Gross profit up 86.1% YoY to $1.2 million, primarily due to the increase in sales volume of CMP, offset printing paper and tissue paper products. Overall gross margin up 1.9 percentage points to 3.9%.
Loss from operations was $0.5 million, compared to loss from operations of $1.2 million for the same period of last year.
Net loss was $1.3 million, or loss per share of $0.12, compared to net loss of $0.3 million, or loss per share of $0.03, for the same period of last year.
Earnings before interest, taxes, depreciation and amortization ("EBITDA") was $2.8 million, compared to EBITDA of $3.6 million for the same period of last year.
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IT Tech Packaging Inc. published this content on 17 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 August 2023 08:25:03 UTC.
IT Tech Packaging, Inc., formerly Orient Paper, Inc. is a holding company for the Hebei Baoding Orient Paper Milling Company Limited (Orient Paper HB), a producer and distributor of paper products in China. The Company is engaged in production and distribution of four categories of paper products: corrugating medium paper (CMP), offset printing paper, digital photo paper and tissue paper products. The Company, through Baoding Shengde Paper Co., Ltd. (Orient Paper Shengde), is engaged in production and distribution of digital photo paper. The Company operates through two segments: Orient Paper HB, which produces printing paper and CMP, and Orient Paper Shengde, which produces digital photo paper. CMP is used in the manufacturing of cardboard. The Company has over two corrugating medium paper production lines, including PM6 and PM1. The Company also produces finished tissue paper products that are marketed and sold under the Orient Paper brand.
IT TECH PACKAGING, INC. 
