IT Tech Packaging Inc. (ITP) Financial Statements (2024 and earlier)

Company Profile

Business Address SCIENCE PARK, JULI ROAD
HEBEI PROVINCE,, 072550
State of Incorp. NV
Fiscal Year End December 31
Industry (SIC) 267 - Converted Paper And Paperboard Products, Except (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments3,9199,52511,2024,1425,83812,117
Cash and cash equivalents3,9199,52511,2024,1425,83812,117
Restricted cash and investments4,392   5,8383,643
Receivables1,3036,6807,735581,804(59)
Inventory, net of allowances, customer advances and progress billings3,5552,8735,8451,2341,6072,924
Inventory3,5552,8735,8451,2341,6072,924
Prepaid expense927697   
Other current assets  27,207 99225144
Other undisclosed current assets15,18085430,0388,4838,7045,490
Total current assets:28,35847,16655,51614,91024,04124,159
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization 1,9402,2862,398 
Operating lease, right-of-use asset 529673   
Nontrade receivables1,8832,0672,4302,5662,6222,810
Property, plant and equipment163,974151,570126,587145,143151,617167,830
Prepaid expense  1,03243,44621,1501,433 
Deferred tax assets, net8,277
Other undisclosed noncurrent assets   11,26913,70910,485 
Total noncurrent assets:166,386157,281186,019184,965166,157178,917
TOTAL ASSETS:194,744204,447241,535199,874190,198203,076
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities6036133,0672,1562,5321,679
Interest and dividends payable993429  
Taxes payable1,1082601,382219
Employee-related liabilities291225292214
Accounts payable5510592250629
Accrued liabilities598608665649607617
Debt7,29810,43412,79711,4327,76917,936
Due to related parties727727727540413
Other undisclosed current liabilities13,5185,8653,8434,0255,9949,605
Total current liabilities:21,41917,64120,43418,34016,83529,634
Noncurrent Liabilities
Long-term debt and lease obligation4,504 152354  
Long-term debt, excluding current maturities4,504     
Liabilities, other than long-term debt4841,2262,0641,115 2,186
Due to related parties    2,186
Operating lease, liability484580152354 
Derivative instruments and hedges, liabilities06462,0641,115  
Other undisclosed noncurrent liabilities  4,2563,1354,9857,3684,706
Total noncurrent liabilities:4,9885,4835,3516,4547,3686,892
Total liabilities:26,40723,12325,78524,79424,20336,526
Equity
Equity, attributable to parent, including:168,337181,324215,750175,080165,995166,550
Common stock101099292322
Additional paid in capital89,17389,17388,92853,99051,15551,137
Accumulated other comprehensive income (loss)(10,556)(7,515)10,4965,741(6,058)(3,264)
Retained earnings83,62999,656116,227115,321120,875118,654
Other undisclosed equity, attributable to parent6,081     
Total equity:168,337181,324215,750175,080165,995166,550
TOTAL LIABILITIES AND EQUITY:194,744204,447241,535199,874190,198203,076

Income Statement (P&L) ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues86,547100,352160,882100,943117,61586,747
Cost of revenue(85,547)(95,598)(149,864)(95,241)(103,935)(80,926)
Cost of goods and services sold(3)(95,598)(149,864)(95,241)(103,935)(80,926)
Gross profit:1,0004,75411,0185,70213,6805,820
Operating expenses(10,576)(10,059)(9,558)(11,158)(9,782)(16,993)
Other undisclosed operating loss      (10)
Operating income (loss):(9,576)(5,305)1,459(5,456)3,898(11,182)
Nonoperating income
(Investment Income, Nonoperating)
 3151,5045,919326537
Interest and debt expense(978)(989)(1,053)(695)(926)(1,492)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes   (537)261241
Income (loss) from continuing operations before equity method investments, income taxes:(10,238)(4,790)6,326(6,656)3,297(12,397)
Other undisclosed income from continuing operations before income taxes639     
Income (loss) from continuing operations before income taxes:(9,599)(4,790)6,326(6,656)3,297(12,397)
Income tax expense (benefit)(347)(11,711)(5,547)1,102(1,076)1,851
Income (loss) from continuing operations:(9,946)(16,501)779(5,554)2,221(10,546)
Income (loss) before gain (loss) on sale of properties:779(5,554)2,221(10,546)
Other undisclosed net income (loss)  (70)127   
Net income (loss):(9,946)(16,571)906(5,554)2,221(10,546)
Other undisclosed net loss attributable to parent      
Net income (loss) available to common stockholders, diluted:(9,946)(16,571)906(5,554)2,221(10,546)

Comprehensive Income ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income (loss):(9,946)(16,571)906(5,554)2,221(10,546)
Comprehensive income (loss):(9,946)(16,571)906(5,554)2,221(10,546)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(3,041)(18,011)4,75511,798(2,794)(8,733)
Comprehensive income (loss), net of tax, attributable to parent:(12,987)(34,582)5,6616,244(572)(19,278)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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