IT Tech Packaging, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 10, 2023 at 04:16 pm EDT
Share
IT Tech Packaging, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 30.02 million compared to USD 31.79 million a year ago. Net loss was USD 1.25 million compared to USD 0.287913 million a year ago. Basic loss per share from continuing operations was USD 0.12 compared to USD 0.03 a year ago. Diluted loss per share from continuing operations was USD 0.12 compared to USD 0.03 a year ago.
For the six months, sales was USD 49.81 million compared to USD 47.27 million a year ago. Net loss was USD 3.99 million compared to USD 2.78 million a year ago. Basic loss per share from continuing operations was USD 0.4 compared to USD 0.28 a year ago. Diluted loss per share from continuing operations was USD 0.4 compared to USD 0.28 a year ago.
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. 
