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 March 31, 2024 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) | --- | --- | |--------------------------------------- ...

Financial Performance - For the fiscal year 2023, total revenue decreased by 13.76% to approximately $86.55 million, down from $100.35 million in 2022[17]. - In Q4 2023, total revenue decreased by 1.91% to approximately $20.96 million, compared to $21.37 million in Q4 2022[3]. - Total revenue decreased by $13.67 million, or 13.66%, to approximately $86.41 million for the year ended December 31, 2023, compared to $100.08 million for 2022[21]. - Total revenues for the year ended December 31, 2023, were $86,546,950, a decrease of 13.7% from $100,352,434 in 2022[43]. Profitability - Gross profit for Q4 2023 was approximately $0.25 million, a decrease of 75.61% from $1.03 million in Q4 2022, resulting in a gross margin of 1.19%[11]. - For the full year 2023, the gross profit margin decreased by 3.58 percentage points to 1.16% compared to 4.74% in 2022[17]. - Total gross profit decreased by $3.75 million, or 78.97%, to approximately $1.00 million, resulting in a gross margin of 1.16% for the year ended December 31, 2023, down from 4.74% in 2022[27]. - Gross profit for 2023 was $999,885, down 79.0% from $4,754,196 in 2022[43]. Net Loss - The net loss for Q4 2023 was approximately $3.98 million, or a loss of $0.40 per share, compared to a net loss of $11.91 million, or a loss of $1.19 per share, in Q4 2022[12]. - Net loss increased by $6.63 million, or 39.98%, to approximately $9.95 million for the year ended December 31, 2023, with a loss per share of $0.99[28]. - Net loss for 2023 was $9,946,035, compared to a net loss of $16,571,308 in 2022, representing a 40.0% improvement[43]. - Basic and diluted losses per share improved to $(0.99) in 2023 from $(1.66) in 2022[43]. EBITDA - EBITDA for Q4 2023 was approximately $0.11 million, a significant decrease of 97.08% from $3.77 million in Q4 2022[13]. - EBITDA decreased by $5.35 million, or 48.81%, to approximately $5.61 million for the year ended December 31, 2023, compared to $10.96 million for 2022[29]. Expenses - Selling, general and administrative expenses increased by 122.80% to approximately $3.38 million in Q4 2023, up from $1.52 million in Q4 2022[12]. - SG&A expenses decreased by $0.98 million, or 9.78%, to approximately $9.08 million for the year ended December 31, 2023[27]. Revenue Breakdown - Revenue from regular Corrugating Medium Paper (CMP) decreased by 1.52% to approximately $17.02 million in Q4 2023, with an average selling price (ASP) of $362 per tonne[9]. - Revenue from tissue paper products increased by 87.04% to approximately $0.47 million in Q4 2023, with an ASP of $987 per tonne[10]. - Revenue from regular CMP decreased by $14.93 million, or 18.14%, to approximately $67.37 million, while revenue from light-weight CMP decreased by $1.91 million, or 11.61%, to approximately $14.52 million for the year ended December 31, 2023[22]. - Revenue from face masks decreased by $0.15 million, or 58.86%, to approximately $0.11 million for the year ended December 31, 2023[25]. Cash Flow and Assets - Cash and bank balances decreased to approximately $3.92 million as of December 31, 2023, down from $9.52 million at the end of 2022[32]. - Current assets decreased to approximately $28.36 million, while current liabilities increased to approximately $21.42 million, resulting in working capital of approximately $6.94 million as of December 31, 2023[33]. - Net cash provided by operating activities increased to approximately $12.87 million for the year ended December 31, 2023, compared to $10.72 million for 2022[34]. - Total current assets decreased to $28,357,901 in 2023 from $47,166,475 in 2022, a decline of 39.8%[40]. - Cash and bank balances at the end of 2023 were $3,918,938, down from $9,524,868 at the end of 2022, a decrease of 58.8%[46]. - Net cash provided by operating activities for 2023 was $12,871,086, an increase from $10,719,388 in 2022[45]. - Cash used in investing activities was $22,239,297 in 2023, compared to $10,898,531 in 2022, indicating increased capital expenditures[45]. Strategic Focus - The company plans to focus on acquiring new customers and improving efficiency while implementing flexible pricing strategies to adapt to market trends[2].

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, 2023 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 001-34577 IT Tech Packaging, Inc. (Exact name of registrant as specified in its charter) Nevada 20-4158835 St ...

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, 2023 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) | --- | --- | |------------------- ...

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, 2023 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) | --- | --- | |------------------------ ...

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 March 31, 2023 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) | --- | --- | |----------------------- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock ITP NYSE American Large accelerated filer ☐ Accelerated filer ☐ Non-accelerated filer ☒ Smaller reporting company ☒ Emerging growth company ☐ 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, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d ...