olivLaw · US equity research
IT Tech Packaging, Inc. ITP
Converted Paper & Paperboard Prods (No Contaners/Boxes) · SIC 2670 · Vertical: Paper and allied products (SIC 267x)
IT Tech Packaging is a Nevada holding company that produces and distributes corrugating medium paper through its variable interest entity in Hebei, China. The company remained loss-making and revenue fell in 2024, though third quarter 2025 showed a slight sales recovery, while the VIE structure remains a regulatory risk to watch.
At the close of 03 Nov 2026, IT Tech Packaging, Inc. (ITP) stock was 0.12 USD (+0.83% on the day), with market capitalisation 2.1 m USD, beta 0.45, 52-week range 0.12–0.26 USD. Latest reported quarter (Q3 2025): revenue of 25.6 m USD (+2.1% YoY), net income of -1.4 m USD, diluted EPS -0.11 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 35.6
- weak (30–45)
- Bollinger (20, 2)
- 0.11 – 0.16
- in the lower half of the band · %B 0.23 · band width 33.9%
- SMA 50 / 200
- 0.16 / 0.20
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.01 / -0.01
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −13.6% | −2.0% | −11.6 pp | — |
| 3 months | −32.8% | −2.2% | −30.6 pp | — |
| 6 months | −36.3% | +4.3% | −40.6 pp | — |
| Year to date | −45.0% | +10.6% | −55.6 pp | — |
| 1 year | −49.6% | +10.5% | −60.0 pp | −4.3% |
| 3 years | −61.0% | +73.7% | −134.6 pp | −15.6% |
| 5 years | −97.3% | +61.7% | −159.0 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2025 · 30 Sept 2025
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 21.0 m | 6.9 m | 26.2 m | 25.1 m | 17.6 m | 10.9 m | 24.8 m | 25.6 m |
| Cost of revenue | 20.7 m | 6.5 m | 23.0 m | 23.2 m | 16.5 m | 10.8 m | 23.5 m | 23.6 m |
| Gross profit | 250.2 k | 399.1 k | 3.3 m | 1.9 m | 1.1 m | 84.1 k | 1.3 m | 2.0 m |
| SG&A | 2.9 m | 3.9 m | 2.7 m | 3.4 m | 4.8 m | 3.5 m | 3.0 m | 3.0 m |
| Operating income | -3.8 m | -3.5 m | 547.8 k | -1.5 m | -3.8 m | -3.4 m | -1.8 m | -992.6 k |
| Depreciation & amortisation | 3.7 m | 3.5 m | 3.4 m | 3.5 m | 3.9 m | 3.5 m | 3.5 m ≈ | 3.6 m ≈ |
| Interest expense | 216.9 k | 210.3 k | 211.6 k | 171.4 k | 169.1 k | 132.8 k | 144.0 k | 150.7 k |
| Pre-tax income | -4.0 m | -3.7 m | 339.0 k | -1.6 m | -4.0 m | -3.5 m | -1.9 m | -1.1 m |
| Income tax | -1.1 k | 36.8 k | 416.8 k | 345.7 k | 79.9 k | — | 46.8 k | 306.4 k |
| Net income | -4.0 m | -3.7 m | -77.7 k | -2.0 m | -4.0 m | -3.5 m | -2.0 m | -1.4 m |
| Diluted EPS | -0.40 ≈ | -0.37 | -0.01 | -0.20 | -0.40 ≈ | -0.35 | -0.16 | -0.11 |
| Operating cash flow | 5.4 m | 624.4 k | 721.9 k ≈ | 1.5 m ≈ | 3.5 m | -2.5 m | 1.4 m ≈ | 1.5 m ≈ |
| Capex | 13.1 m | 9.0 k | 53.6 k ≈ | 252.5 k ≈ | 14.5 k | 8.4 k | 21.5 k ≈ | 81 ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 117.0 m | 86.7 m | 117.6 m | 100.9 m | 160.9 m | 100.4 m | 86.5 m | 75.8 m |
| Revenue YoY | −13.2% | −25.9% | +35.6% | −14.2% | +59.4% | −37.6% | −13.8% | −12.4% |
| Net income | 1.7 m | -10.5 m | 2.2 m | -5.6 m | 905.5 k | -16.6 m | -9.9 m | -9.8 m |
| Net income YoY | −77.3% | −735.4% | unavailable | −350.0% | unavailable | −1,930.0% | unavailable | unavailable |
| Diluted EPS | 0.08 | -0.49 | 0.10 | -0.21 | 0.10 | -1.66 | -0.99 | -0.98 |
| Diluted EPS YoY | −76.5% | −712.5% | unavailable | −307.9% | unavailable | −1,760.0% | unavailable | unavailable |
| net % | 1.4% | -12.2% | 1.9% | -5.5% | 0.6% | -16.5% | -11.5% | -13.0% |
| Free cash flow | 8.8 m | 7.0 m | 1.1 m | -5.0 m | -27.5 m | 6.2 m | -9.4 m | 6.0 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2024 · 31 Dec 2024
- Cash
- 7.0 m USD
- Financial debt
- 5.6 m USD
- Net debt
- -1.4 m USD
- Equity
- 156.1 m USD
- Total assets
- 177.5 m USD
- Debt / equity
- 0.04x
- Current ratio
- 1.41x
- ROE
- -6.1%
- ROA
- -5.3%
- FCF margin
- 7.9%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 117.6 m | 100.9 m | 160.9 m | 100.4 m | 86.5 m | 75.8 m | SEC (XBRL)· 11 Apr 2025verified |
| Cost of revenue | — | — | — | 95.6 m | 85.5 m | 69.1 m | SEC (XBRL)· 11 Apr 2025verified |
| Gross profit | 13.7 m | 5.7 m | 11.0 m | 4.8 m | 999.9 k | 6.7 m | SEC (XBRL)· 11 Apr 2025verified |
| Research & development | 74.8 k | 69.2 k | 101.4 k | 145.5 k | 90.8 k | 99.6 k | SEC (XBRL)· 11 Apr 2025verified |
| SG&A | 9.8 m | 11.2 m | 9.6 m | 10.1 m | 9.1 m | 14.8 m | SEC (XBRL)· 11 Apr 2025verified |
| Operating income | 3.9 m | -5.5 m | 1.5 m | -5.3 m | -9.6 m | -8.2 m | SEC (XBRL)· 11 Apr 2025verified |
| Depreciation & amortisation | 15.3 m | 15.8 m | 15.4 m | 14.8 m | 14.2 m | 14.2 m | SEC (XBRL)· 11 Apr 2025verified |
| EBITDA | 19.2 m ≈ | 10.3 m ≈ | 16.8 m ≈ | 9.5 m ≈ | 4.7 m ≈ | 6.0 m ≈ | SEC (XBRL)· 11 Apr 2025derived |
| Interest expense | 926.4 k | 1.0 m | 1.1 m | 1.0 m | 984.5 k | 762.4 k | SEC (XBRL)· 11 Apr 2025verified |
| Pre-tax income | 3.3 m | -6.7 m | — | -4.9 m | -9.6 m | -9.0 m | SEC (XBRL)· 11 Apr 2025verified |
| Income tax | 1.1 m | -1.1 m | 5.5 m | 11.7 m | 347.0 k | 879.2 k | SEC (XBRL)· 11 Apr 2025verified |
| Net income | 2.2 m | -5.6 m | 905.5 k | -16.6 m | -9.9 m | -9.8 m | SEC (XBRL)· 11 Apr 2025verified |
| Diluted EPS | 0.10 | -0.21 | 0.10 | -1.66 | -0.99 | -0.98 | SEC (XBRL)· 11 Apr 2025verified |
| Weighted average diluted shares | 22.0 m | — | 9.1 m | 10.0 m | 10.1 m | 10.1 m | SEC (XBRL)· 11 Apr 2025verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 5.8 m | 4.1 m | 11.2 m | 9.5 m | 4.4 m | 7.0 m | SEC (XBRL)· 11 Apr 2025verified |
| Receivables | — | — | — | — | 575.5 k | 287.6 k | SEC (XBRL)· 11 Apr 2025verified |
| Inventories | 1.6 m | 1.2 m | 5.8 m | 2.9 m | 3.6 m | 2.4 m | SEC (XBRL)· 11 Apr 2025verified |
| Current assets | 24.0 m | 14.9 m | 55.5 m | 47.2 m | 28.4 m | 28.5 m | SEC (XBRL)· 11 Apr 2025verified |
| Property, plant & equipment, net | 151.6 m | 145.1 m | 126.6 m | 151.6 m | 164.0 m | 146.9 m | SEC (XBRL)· 11 Apr 2025verified |
| Total assets | 190.2 m | 199.9 m | 241.5 m | 204.4 m | 194.7 m | 177.5 m | SEC (XBRL)· 11 Apr 2025verified |
| Accounts payable | 250.5 k | 592.4 k | 10.3 k | 5.0 k | 5.0 k | 1 | SEC (XBRL)· 11 Apr 2025verified |
| Short-term debt | — | 6.4 m | 6.0 m | 5.6 m | 423.6 k | 4.5 m | SEC (XBRL)· 11 Apr 2025verified |
| Long-term debt | 4.4 m | 9.6 m | 9.8 m | 4.2 m | 4.5 m | 1.1 m | SEC (XBRL)· 11 Apr 2025verified |
| Current liabilities | 16.8 m | 18.3 m | 20.4 m | 17.6 m | 21.4 m | 20.1 m | SEC (XBRL)· 11 Apr 2025verified |
| Total liabilities | 24.2 m | 24.8 m | 25.8 m | 23.1 m | 26.4 m | 21.5 m | SEC (XBRL)· 11 Apr 2025verified |
| Equity | 166.0 m | 175.1 m | 181.3 m † | 181.3 m † | 168.3 m † | 156.1 m † | SEC (XBRL)· 11 Apr 2025verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 7.5 m | 16.1 m | -2.4 m | 10.7 m | 12.9 m | 6.3 m | SEC (XBRL)· 11 Apr 2025verified |
| Capex | 6.4 m | 21.1 m | 25.1 m | 4.5 m | 22.3 m | 329.6 k | SEC (XBRL)· 11 Apr 2025verified |
| Free cash flow | 1.1 m ≈ | -5.0 m ≈ | -27.5 m ≈ | 6.2 m ≈ | -9.4 m ≈ | 6.0 m ≈ | SEC (XBRL)· 11 Apr 2025derived |
| Investing cash flow | -7.9 m | -20.5 m | -25.1 m | -10.9 m | -22.2 m | -329.6 k | SEC (XBRL)· 11 Apr 2025verified |
| Financing cash flow | -5.8 m | 2.1 m | 34.2 m | -879.6 k | 4.4 m | -3.3 m | SEC (XBRL)· 11 Apr 2025verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 53 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
03 Nov 2026Source: olivLaw, closing series
Market cap: 2.1 m USD
Key indicators
Coverage and freshness
Score by group
- Quality8
- Growth0
- Valuation100
- Balance sheet69
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 4.60 – 11.93 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)4.60 – 11.93 (Mid 6.59)WACC 5.8% · starting FCFF 4.3 m USD · terminal value share of EV 85%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: no growth between −30% and +40% justifies the price
- Peers: EV/EBITDAunavailable · not enough peers
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)unavailable · input data missing
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 53/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | -5.3% | 0 (on a fixed band) | 16% |
| Net margin · Quality | -13.9% | 20 (vs peers) | 10% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | -22.2% | 0 (on a fixed band) | 13% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | 0.2x | 100 (on a fixed band) | 16% |
| Interest coverage · Balance sheet | -16.6x | 0 (on a fixed band) | 10% |
| Current ratio · Balance sheet | 1.9x | 93 (on a fixed band) | 6% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | 0.6x | 100 (on a fixed band) | 16% |
| FCF yield · Valuation | 185.7% | 100 (on a fixed band) | 13% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet69/100 · 3/3 factors with a value
- Growth· partial0/100 · 1/2 factors with a value
- Quality8/100 · 2/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation100/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
IT TECH PACKAGING, INC. (ITP). Latest full fiscal year: 2024; data up to 2025-09-30.
Figures computed from the financial statements: revenue 75.8 m USD in 2024; YoY growth -12.4%; net margin -13.9%; ROE -6.9%; net debt/EBITDA 0.2x.
The estimated value range is 4.60–11.93 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 6.59 USD, the price of 0.12 USD leaves a potential of 5,344.3% (value / price − 1) and a margin of safety of 98.2% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 53/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: growth, returns. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net debt / EBITDA: 0.2x
- Current ratio: 1.9x
- EV/EBITDA: 0.6x
- FCF yield: 185.7%
- The price is below the estimated value range
What contradicts it
- ROIC: -5.3%
- Net margin: -13.9%
- Revenue CAGR 3Y: -22.2%
- Interest coverage: -16.6x
Not assessed (insufficient data or a ratio without meaning): FCF conversion, EPS CAGR 3Y, P/E (TTM), Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Paper and allied products (SIC 267x) · same industry group (3-digit SIC) · compared with 5 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| KMBKimberly-Clark Corporation | 34.7 bn | 17.8 | 129.4% | 11.8% | −2.1% | −4% / −16% |
| AVYAvery Dennison Corporation | 14.0 bn | 20.1 | 30.8% | 7.6% | +1.1% | +8% / −5% |
| REYNReynolds Consumer Products Inc. | 5.1 bn | 15.4 | 15.0% | 8.7% | +0.7% | −4% / −8% |
| DSYBig Tree Cloud Holdings Limited | 287.9 m | — | -232.8% | -551.3% | −49.3% | −63% / −98% |
| PACKRanpak Holdings Corp. | 255.6 m | — | -6.6% | -8.3% | +7.1% | −40% / −27% |
| ITPIt Tech Packaging, Inc. | 2.1 m | — | -6.9% | -13.9% | −12.4% | −50% / −61% |
1- and 3-year price returns: for ITP from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
IT Tech Packaging is a Nevada holding company that produces and distributes corrugating medium paper through its variable interest entity in Hebei, China. The company remained loss-making and revenue fell in 2024, though third quarter 2025 showed a slight sales recovery, 12 while the VIE structure remains a regulatory risk to watch.
SWOT
Strengths
- The company has a dedicated production line with large designed capacity and improved its gross margin in 2024 thanks to lower recycled paper input costs.
- The group structure is consolidated for accounting, and its customer base in northern China gives a concentrated and known market.
- Management has long industry experience and strong local relationships, an important asset for operating in a regulated environment.
Weaknesses
- The company reported net losses in the periods analysed and depends on one main product grade.
- Dependence on a small number of energy and raw material suppliers means supply interruptions could have a major effect.
- Investors hold no stake in the operating entities, and the contractual agreements have not been tested in court.
Opportunities
- Resuming offset and tissue paper production, expected at the end of 2025, could diversify revenue.
- Higher sales volumes in the third quarter of 2025 suggest demand for CMP could keep improving.
- Modernising the photo paper line could allow more competitive products.
Threats
- Government restrictions on natural gas could temporarily halt production.
- Chinese rules on overseas listings and VIE structures could change operations or the value of the shares.
- Strong competition and volatile paper prices could squeeze margins again.
Risks
- Structural VIE riskhigh
The company holds no equity in its China operating entity, and authorities could disallow the structure, which would fundamentally change the business.
- Persistent net losseshigh
The company reported a net loss in fiscal 2024, and a continuation of this trend could limit its ability to finance itself.
- Natural gas supply interruptionsmedium
Government restrictions on natural gas supply could stop production for extended periods.
- Supplier dependencemedium
A few suppliers account for nearly all purchases of raw materials and gas, so losing one contract could be hard to offset.
- CMP price volatilitylow
Lower selling prices could reduce revenue even if volumes grow.
Investment thesis
What would need to be true (bull case)
- If sales volumes keep rising and raw material costs stay low, gross margins could remain improved compared with earlier years.
- Resuming offset and tissue paper production could add a new source of revenue.
- A reduction in net losses could show that the cost structure has stabilised.
What would break the thesis
- Chinese authorities could challenge the VIE structure, which could leave the investment without value.
- Revenue fell in 2024 and strong competition could prevent a sustained recovery.
- Natural gas restrictions could interrupt production just as the company tries to recover its position.
What to watch
- Fourth quarter 2025 results and the resumption of offset paper productionQ4 2025
- Trend in the average CMP selling price and gross marginQ1 2026
- Renewal of the pollution discharge permit for the PM6 line2025
- New Chinese rules on VIE structures and overseas listingsnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
IT Tech Packaging, Inc. has no operations of its own; it is a Nevada holding company whose business is conducted through subsidiaries and through Hebei Baoding Dongfang Paper Milling Company Limited, a variable interest entity (VIE) consolidated for accounting but in which the company holds no equity. 1 Production consists mainly of corrugating medium paper (CMP), and the company also produced offset printing paper and tissue paper products, activities suspended in 2024. 12
The contractual structure giving the company control of the VIE includes a technical services agreement, a call option agreement, a share pledge agreement and a proxy agreement, under which the Baoding operating entity receives substantially all economic benefits. 1 Investors hold shares only in the Nevada company, not in the Chinese operating entities, and these agreements have not been tested in a court of law. 1
The company was incorporated in 2005 as Carlateral, Inc. and changed its name to IT Tech Packaging in 2018, when its shares began trading under the symbol ITP on NYSE American. 1 Per 2025 quarterly data, production of offset and tissue paper was expected to resume at the end of the year. 2
Segments
Corrugating medium paper (CMP)
CMP accounts for almost all revenue, particularly regular and light-weight grades produced on lines PM6 and PM1. In fiscal 2024 CMP sales were 75.7 million USD from 220,552 tonnes, and in the third quarter of 2025 the average price of regular grade was 340 USD per tonne. 12
Market context
The company operates in a Chinese sector with strong competition, where established players have greater experience, and prices and volumes depend on demand for recycled paper and the cost of energy. In 2024 the average selling price of CMP fell compared with 2023, while raw material costs fell more, which improved the gross margin. 1
Energy costs remain sensitive: natural gas accounted for 13.6% of sales in 2024, and the government can periodically restrict gas supply to the paper industry, which could affect production. 1
Trends
- Lower CMP selling pricesmixed
The average price of CMP fell in 2024 and rose slightly in the third quarter of 2025, suggesting price pressure that could ease if demand improves. 12
- Recycled paper input coststailwind
The purchase cost of recycled paper fell in 2024, supporting margins, but the price of this raw material is volatile and could rise again if the market shifts. 1
- Natural gas supply restrictionsheadwind
The government may limit natural gas supply to the paper industry during periods of high household demand, which could halt production. 1
- Regulation of VIE structures in Chinaheadwind
Chinese authorities have extended oversight of companies listed abroad through VIE structures, and uncertainty over how these rules are applied could affect the company. 1
Competitive position
The company says it operates in a highly developed market where competitors have greater experience and longer history, and these competitors could offer new products, lower prices or more efficient technologies. 1
The analysed sources do not identify US-listed competitors; if the company cannot hold its price position, losing market share could reduce revenue. 1
- Chinese corrugating medium paper producers
Direct competitors in Hebei and northern China, referred to generically in the annual report, with greater industry experience.
- Recycled paper and raw material suppliers
Suppliers of recycled paper and gas influence costs and can change supply conditions.
- Producers of alternative packaging materials
Companies making other paper or packaging types could gain share at the expense of CMP.
- New entrants to the corrugating paper market
New capacity investment could intensify price pressure on the company.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report09 Oct 2026Delisting notice · Financial statements and exhibits
- Current report06 Oct 2026Item 4.01
- Current report18 Sept 2026Item 4.01 · Financial statements and exhibits
- Current report01 Sept 2026Item 4.01 · Financial statements and exhibits
- Current report22 Apr 2026Item 4.01 · Financial statements and exhibits
- Current report20 Apr 2026Delisting notice · Regulation FD disclosure · Financial statements and exhibits
- Quarterly report13 Nov 2025
- Current report31 Oct 2025Shareholder vote · Other events · Financial statements and exhibits
- Current report11 Sept 2025Other events · Financial statements and exhibits
- Proxy statement08 Sept 2025
Sources
- [1] Form 10-K, fiscal year ended 2024-12-31 · SEC / IT Tech Packaging, Inc. · 11 Apr 2025
- [2] Form 10-Q, quarter ended 2025-09-30 · SEC / IT Tech Packaging, Inc. · 13 Nov 2025
- [3] Form 8-K, results release (exhibit 99.1) · SEC / IT Tech Packaging, Inc. · 15 Nov 2024
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.