Financial Data and Key Metrics Changes - For Q2 2020, total revenue decreased by 21.6% to $26.4 million due to lower average selling prices (ASP) across all paper products and a significant drop in offset printing paper sales volume [8][12] - Net loss for Q2 2020 was $1 million, resulting in a loss of $0.04 per share, compared to a net income of $0.5 million or $0.02 per share in the same period last year [12][15] - Earnings before interest, taxes, depreciation, and amortization (EBITDA) decreased by $1.7 million to $2.9 million from $4.6 million year-over-year [12][15] Business Line Data and Key Metrics Changes - The Corrugating Medium Paper (CMP) segment generated $21.9 million, accounting for 83% of total revenue, with a slight volume decrease of 1.6% [9] - Offset printing paper revenue fell by 79.8% to $1.3 million, with a volume decrease of 74.5% [9] - Tissue paper products revenue increased by 100.2% to $2.4 million, driven by a sales volume of 2,884 tons [10] Market Data and Key Metrics Changes - The ASP for regular CMP decreased by 15% to $370 per ton, while lightweight CMP ASP decreased by 15.4% to $357 per ton [9] - The ASP for offset printing paper decreased by 24.7% to $578 per ton [9] - The ASP for tissue paper products was $825 per ton, reflecting a 13% decrease [10] Company Strategy and Development Direction - The company aims to stabilize ASP for all paper products as the economy recovers from the pandemic, indicating a focus on improving overall performance [6][7] - The launch of the face mask business in April 2020 generated $0.9 million in revenue, highlighting diversification into new product lines [6] Management Comments on Operating Environment and Future Outlook - Management noted that while sales and operations were impacted by COVID-19 in Q1, improvements were seen in Q2, particularly in the tissue paper and face mask segments [6] - The underlying demand for products remains strong, and management expects continued improvement as the economy recovers [7] Other Important Information - As of June 30, 2020, the company had cash and bank balances of $12.8 million, with current assets of $27.8 million and current liabilities of $16.6 million, resulting in a working capital of $11.2 million [16] - SG&A expenses increased by 39.4% to $3.4 million, contributing to a loss from operations of $0.8 million [11] Q&A Session Summary - No specific questions or answers were recorded in the provided content, indicating the end of the call without a Q&A segment [18]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 or ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission file number: 001-34577 IT TECH PACKAGING, INC. (Exact name of registrant as specified in its charter) | --- | |------------------------------ ...

IT Tech Packaging, Inc. (NYSE:ITP) Q1 2020 Results Conference Call May 15, 2020 8:00 AM ET Company Participants Zhenyong Liu - Chairman and CEO Jing Hao - CFO Melody Shi - IR, EverGreen Consulting Inc. Janice Wang - IR, EverGreen Consulting Inc. Conference Call Participants Operator Hello, ladies and gentlemen, and welcome to participate in IT Tech Packaging’s First Quarter 2020 Earnings Conference Call. At this time, I would like to inform you that this conference is being recorded and that all participant ...

Part I - Financial Information [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) The company's financial statements for the quarter ended March 31, 2020, show a significant decrease in revenue and a net loss of $2.4 million, with total assets decreasing to $182.3 million, while cash flow from operations turned strongly positive at $6.9 million, leading to an increase in the company's cash balance to $11.7 million [Condensed Consolidated Balance Sheets](index=4&type=section&id=CONDENSED%20CONSOLIDATED%20BALANCE%20SHEETS) As of March 31, 2020, total assets were $182.3 million, a decrease from $190.2 million at the end of 2019, primarily in property, plant, and equipment and prepayments, partially offset by a significant increase in cash and bank balances, while total liabilities decreased to $21.3 million from $24.2 million, and stockholders' equity fell to $161.0 million from $166.0 million Condensed Consolidated Balance Sheets | Financial Metric | March 31, 2020 | December 31, 2019 | | :--- | :--- | :--- | | **Total Current Assets** | $21,634,039 | $24,041,239 | | **Total Assets** | $182,256,298 | $190,198,430 | | **Total Current Liabilities** | $14,032,616 | $16,835,460 | | **Total Liabilities** | $21,287,277 | $24,203,368 | | **Total Stockholders' Equity** | $160,969,021 | $165,995,062 | - Cash and bank balances nearly doubled to **$11.7 million** from **$5.8 million** at the end of 2019[5](index=5&type=chunk) [Condensed Consolidated Statements of Income and Comprehensive Income](index=5&type=section&id=CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20INCOME%20AND%20COMPREHENSIVE%20INCOME) For the three months ended March 31, 2020, the company's revenues fell by nearly 50% year-over-year to $8.7 million, yet the net loss slightly narrowed to $2.4 million from $2.7 million in the prior-year period, resulting in a loss per share of $0.11 Condensed Consolidated Statements of Income and Comprehensive Income | Metric | Three Months Ended Mar 31, 2020 | Three Months Ended Mar 31, 2019 | | :--- | :--- | :--- | | **Revenues** | $8,743,851 | $17,450,292 | | **Gross Loss** | ($169,719) | ($192,466) | | **Loss from Operations** | ($2,866,682) | ($3,173,939) | | **Net Loss** | ($2,436,287) | ($2,722,595) | | **Basic and Diluted Losses per Share** | ($0.11) | ($0.12) | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20CASH%20FLOWS) The company generated $6.9 million in cash from operating activities for the first quarter of 2020, a significant improvement from the $3.1 million used in the same period of 2019, with net cash used in investing activities at $0.8 million and financing activities neutral, resulting in a net increase in cash of $5.9 million, boosting the ending cash balance to $11.7 million Condensed Consolidated Statements of Cash Flows | Cash Flow Activity | Three Months Ended Mar 31, 2020 | Three Months Ended Mar 31, 2019 | | :--- | :--- | :--- | | **Net Cash Provided by (Used in) Operating Activities** | $6,860,307 | ($3,052,152) | | **Net Cash Used in Investing Activities** | ($756,514) | ($1,415,761) | | **Net Cash Used in Financing Activities** | $0 | ($5,366,166) | | **Net Increase (Decrease) in Cash** | $5,874,407 | ($9,492,366) | | **Cash - End of Period** | $11,712,152 | $2,625,059 | [Notes to Condensed Consolidated Financial Statements](index=9&type=section&id=NOTES%20TO%20CONDENSED%20CONSOLIDATED%20FINANCIAL%20STATEMENTS) The notes reveal the company's reliance on its Variable Interest Entity (VIE), Dongfang Paper, which generates 100% of revenue, with key details including the company's debt structure comprising $6.1 million in short-term and $8.8 million in long-term loans, significant commitments including a $43.6 million payment for the acquisition of Hebei Tengsheng, and the COVID-19 pandemic highlighted as a major risk that impacted production, while subsequent to the quarter's end, the company issued new stock and warrants to raise capital - The company operates through a Variable Interest Entity (VIE) structure, with Dongfang Paper in the PRC accounting for **100% of the company's total revenue** for the quarter[21](index=21&type=chunk) - As of March 31, 2020, the company had total loans payable of approximately **$14.9 million**, consisting of **$6.1 million** in short-term bank loans and **$8.8 million** in long-term loans from a credit union[47](index=47&type=chunk)[50](index=50&type=chunk) - A significant capital commitment of **$43.6 million** remains payable by December 31, 2021, for the acquisition of Hebei Tengsheng[89](index=89&type=chunk) - The company's revenue was affected by a temporary suspension in production during the quarter due to the COVID-19 pandemic outbreak[101](index=101&type=chunk) - Subsequent to the quarter end, in April 2020, the company granted **2 million shares** of restricted stock and entered an agreement to sell **4.4 million shares** and warrants for gross proceeds of approximately **$2.55 million**[104](index=104&type=chunk)[105](index=105&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=30&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses a 49.9% year-over-year revenue decrease to $8.7 million for Q1 2020, attributing it to lower sales volumes and prices for Corrugating Medium Paper (CMP) and tissue paper, primarily due to the COVID-19 pandemic and Chinese New Year production halts, while the company's liquidity improved significantly, with cash increasing by $5.9 million, driven by strong operating cash flow from better working capital management, and the report details operational performance by product, cost analysis, and capital resources [Results of Operations](index=30&type=section&id=Results%20of%20Operations) Revenue for Q1 2020 plummeted by 49.9% to $8.7 million from $17.5 million in Q1 2019, driven by a 43.8% decrease in sales volume and lower Average Selling Prices (ASPs), with the decline most pronounced in Corrugating Medium Paper (CMP), resulting in a gross loss of $169,719, a slight increase from a loss of $192,466 in the prior year, and an overall gross margin deteriorating to -1.94%, leading to a net loss for the quarter of $2.4 million Revenue by Product | Product | Q1 2020 Revenue | Q1 2019 Revenue | % Change | | :--- | :--- | :--- | :--- | | Total CMP | $7,737,502 | $15,590,011 | -50.37% | | Tissue Paper | $1,006,349 | $1,860,281 | -45.90% | | **Total** | **$8,743,851** | **$17,450,292** | **-49.89%** | - The decrease in revenue was attributed to production suspension from mid-January to early March 2020 due to the Chinese New Year and the COVID-19 pandemic outbreak[112](index=112&type=chunk) Average Selling Prices by Product | Product ASP | Q1 2020 | Q1 2019 | % Decrease | | :--- | :--- | :--- | :--- | | Regular CMP | $415/tonne | $465/tonne | -10.75% | | Light-Weight CMP | $412/tonne | $453/tonne | -9.05% | | Tissue Paper | $849/tonne | $1,160/tonne | -26.81% | - Gross profit margin for tissue paper products fell sharply to **-70.74%** from **1.81%** in the prior year, mainly due to higher unit fixed costs absorbed by lower production volume[134](index=134&type=chunk) [Liquidity and Capital Resources](index=40&type=section&id=Liquidity%20and%20Capital%20Resources) The company's cash and cash equivalents increased by $5.9 million to $11.7 million as of March 31, 2020, primarily driven by a strong net cash inflow from operating activities of $6.9 million, a significant reversal from the prior year, with the positive operating cash flow resulting from effective working capital management, including a large decrease in accounts receivable, and the company finances its operations through cash flow, bank loans, and has recently raised additional capital through a stock and warrant offering - Cash and cash equivalents increased to **$11.7 million** at March 31, 2020, from **$5.8 million** at December 31, 2019[144](index=144&type=chunk) - Net cash provided by operating activities was **$6.9 million**, a turnaround of **$9.9 million** from the **$3.1 million** used in the same period in 2019, chiefly due to a **$1.3 million** decrease in accounts receivable and a **$5.5 million** decrease in prepayments[144](index=144&type=chunk) - The company had approximately **$0.9 million** in capital expenditure commitments as of March 31, 2020, mainly for building improvements[143](index=143&type=chunk) - Subsequent to the quarter, the company raised approximately **$2.55 million** in gross proceeds from a registered direct offering to institutional investors[148](index=148&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=45&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risks are foreign exchange risk, due to operations in Chinese RMB and reporting in U.S. dollars, and inflation risk in China, which could compress margins if cost increases cannot be passed on to customers, and the company does not use hedging instruments to mitigate these risks - The company is exposed to foreign exchange risk as almost all revenues and costs are denominated in RMB, while financial statements are reported in USD. No hedging transactions are used[171](index=171&type=chunk) - Inflation in China poses a risk to operating results if the company cannot increase selling prices to offset rising costs[172](index=172&type=chunk) [Item 4. Controls and Procedures](index=45&type=section&id=Item%204.%20Controls%20and%20Procedures) Based on an evaluation conducted by management, including the CEO and CFO, the company concluded that its disclosure controls and procedures were effective as of March 31, 2020, and there were no material changes to internal controls over financial reporting during the quarter - Management concluded that disclosure controls and procedures were effective as of the end of the period[173](index=173&type=chunk) - No material changes in internal control over financial reporting occurred during the quarter ended March 31, 2020[174](index=174&type=chunk) Part II - Other Information [Item 1. Legal Proceedings](index=46&type=section&id=Item%201.%20Legal%20Proceedings) The company reported no legal proceedings during the period - None[176](index=176&type=chunk) [Item 1A. Risk Factors](index=46&type=page&id=Item%201A.%20Risk%20Factors) As a smaller reporting company, IT Tech Packaging, Inc. is not required to provide risk factor disclosures in its Form 10-Q - The company is a smaller reporting company and is not required to provide this information[177](index=177&type=chunk) [Item 5. Other Information](index=46&type=section&id=Item%205.%20Other%20Information) The company announced its intention to hold its 2020 Annual Meeting of Stockholders on July 23, 2020, and provided the deadline for the submission of stockholder proposals - The company intends to hold its 2020 Annual Meeting of Stockholders on July 23, 2020[178](index=178&type=chunk) [Item 6. Exhibits](index=46&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, which include certifications by the Principal Executive Officer and Principal Financial Officer as required by the Sarbanes-Oxley Act, and XBRL-related documents - The report includes certifications from the CEO and CFO pursuant to Sarbanes-Oxley Act sections 302 and 906, as well as XBRL data files[180](index=180&type=chunk)

IT Tech Packaging, Inc. (NYSE:ITP) Q4 2019 Earnings Conference Call March 24, 2020 8:00 AM ET Company Participants Zhenyong Liu - Chairman and Chief Executive Officer Jing Hao - Chief Financial Officer Melody Shi - IR, Evergreen Consulting Inc. Janice Wang - IR, EverGreen Consulting Inc. Operator Hello, ladies and gentlemen, and welcome to IT Tech Packaging’s Fourth Quarter and Fiscal Year 2019 Earnings Conference Call. At this time, I would like to inform you that this conference is being recorded and that ...

Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock ITP NYSE MKT LLC UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________to ______________ Commission file number ...

IT Tech Packaging, Inc. (NYSE:ITP) Q3 2019 Earnings Conference Call November 8, 2019 8:00 AM ET Company Participants Melody Shi - Evergreen Investor Relations Janice Wang - Weitian Investor Relations Conference Call Participants Operator Hello, ladies and gentlemen, and welcome to participate in IT Tech Packaging Third Quarter 2019 Earnings Conference Call. At this time, I would like to inform you that this conference is being recorded. [Operator Instructions]. Joining us today are Mr. Zhenyong Liu, IT Tech ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 or ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ | --- | --- | |---------------------------------------------------------------------------------------------------|-------------------------------- ...