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IT Tech Packaging Inc - ITP STOCK NEWS

Welcome to our dedicated news page for IT Tech Packaging (Ticker: ITP), a resource for investors and traders seeking the latest updates and insights on IT Tech Packaging.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect IT Tech Packaging's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of IT Tech Packaging's position in the market.

Rhea-AI Summary
IT Tech Packaging, Inc. announces unaudited financial results for Q4 2023 and audited results for FY 2023. Revenue decreased by 1.91% in Q4, with a gross profit decline of 75.61%. The company reported a net loss of $3.98 million for Q4 and $9.95 million for FY 2023. EBITDA decreased by 97.08% in Q4 and 48.81% for FY 2023. Cash and bank balances decreased to $3.92 million by the end of 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.96%
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Rhea-AI Summary
IT Tech Packaging, Inc. (NYSE American: ITP) announced unaudited financial results for the nine and three months ended September 30, 2023. With total revenue of $65.58 million and a net loss of $5.96 million, the company experienced a slight decrease from the previous year. The third quarter saw a 50.26% decrease in revenue to $15.77 million, mainly due to lower sales volume and average selling prices of paper products. The company also reported a gross loss of $0.15 million and a net loss of $1.98 million for the quarter.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.23%
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Rhea-AI Summary
IT Tech Packaging, Inc. announces the results of its 2023 Annual General Meeting of Stockholders. Two Class I directors were elected, the appointment of WWC, P.C. Certified Public Accountants was ratified, and the adoption of the 2023 Omnibus Equity Incentive Plan was approved.
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End-of-Day
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Rhea-AI Summary
IT Tech Packaging, Inc. has filed a definitive proxy statement for its 2023 annual meeting of stockholders, scheduled for October 31, 2023. The proposals include the election of two Class I directors, ratification of the appointment of WWC, P.C. as the independent registered public accounting firm, and approval of the 2023 Omnibus Equity Incentive Plan. Stockholders of record as of September 6, 2023, are eligible to receive a Notice of Meeting and vote at the annual meeting.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.27%
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none
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Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.22%
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Rhea-AI Summary
IT Tech Packaging, Inc. reported a 27.83% increase in revenue to $19.79 million for Q1 2023. Gross loss was $0.28 million, compared to a gross profit of $0.31 million in the same period last year. Net loss was $2.73 million, or $0.27 per share. EBITDA was $1.21 million. The company experienced growth in sales volume of corrugating medium paper (CMP) but a decrease in average selling prices. The overall operating environment for the paper-making industry is expected to improve.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-9.8%
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-9.09%
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4.35%
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Rhea-AI Sentiment
End-of-Day
-4.26%
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IT Tech Packaging Inc

NYSE:ITP

ITP Rankings

ITP Stock Data

2.57M
9.52M
5.38%
2.99%
0.93%
Paper (except Newsprint) Mills
Manufacturing
Link
China
Baoding