It Tech Packaging, Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2021
August 10, 2021 at 01:02 pm
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IT Tech Packaging, Inc. announced earnings results for the second quarter ended June 30, 2021. For the second quarter, the company announced sales was USD 46.534 million compared to USD 26.362 million a year ago. Operating income was USD 431,408 compared to operating loss of USD 798,643 a year ago. Net loss was USD 453,248 compared to USD 980,031 a year ago. Basic loss per share from continuing operations was USD 0.01 compared to USD 0.04 a year ago. For the half year, sales was USD 70.744 million compared to USD 35.106 million a year ago. Operating loss was USD 292,905 compared to USD 3.665 million a year ago. Net loss was USD 4.792 million compared to USD 3.416 million a year ago. Basic loss per share from continuing operations was USD 0.1 compared to USD 0.14 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. 
