IT Tech Packaging, Inc. (ITP) financial statements (2022 and earlier)

Company profile

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

Balance sheet (Statement of financial position) ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments11,2024,1425,83812,1172,8962,333
Cash and cash equivalents11,2024,1425,83812,1172,8962,333
Restricted cash and investments  5,8383,6436,1222,162
Receivables7,735581,804(59)(38)(79)
Inventory, net of allowances, customer advances and progress billings5,8451,2341,6072,9248,4745,632
Inventory5,8451,2341,6072,9248,4745,632
Prepaid expense697   1844
Other current assets 99225144919
Other undisclosed current assets30,0388,4838,7045,4902,3404,406
Total current assets:55,51614,91024,04124,15919,98714,477
Noncurrent Assets
Finance lease, right-of-use asset2,2862,398 
Nontrade receivables2,4302,5662,6222,8103,0412,946
Property, plant and equipment126,587145,143151,617167,830189,389187,690
Prepaid expense43,44621,1501,433   
Deferred tax assets, net8,2776,5733,265
Other undisclosed noncurrent assets11,26913,70910,485   
Total noncurrent assets:186,019184,965166,157178,917199,003193,900
TOTAL ASSETS:241,535199,874190,198203,076218,989208,378
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities3,0672,1562,5321,6791,7703,202
Accounts payable10592250629423560
Accrued liabilities66564960761742605
Employee-related liabilities291225292214231210
Taxes payable1,1082601,3822195261,311
Interest and dividends payable993429  549517
Debt12,79711,4327,76917,93619,681(3,741)
Due to related parties7277275404136057
Customer advances and deposits 29
Other undisclosed current liabilities3,8434,0255,9949,60524621,039
Total current liabilities:20,43418,34016,83529,63421,75820,586
Noncurrent Liabilities
Long-term debt and lease obligation152354   4,844
Long-term debt, excluding current maturities     4,844
Operating lease, liability152354 
Liabilities, other than long-term debt2,0641,115 2,18610,71310,091
Due to related parties   2,18610,71310,091
Derivative instruments and hedges, liabilities2,0641,115    
Other undisclosed noncurrent liabilities3,1354,9857,3684,7061,194102
Total noncurrent liabilities:5,3516,4547,3686,89211,90715,037
Total liabilities:25,78524,79424,20336,52633,66435,622
Stockholders' equity
Stockholders' equity attributable to parent215,750175,080165,995166,550185,325172,755
Common stock992923222121
Additional paid in capital88,92853,99051,15551,13750,63550,635
Accumulated other comprehensive income (loss)10,4965,741(6,058)(3,264)5,469(5,441)
Retained earnings116,227115,321120,875118,654129,200127,540
Total stockholders' equity:215,750175,080165,995166,550185,325172,755
TOTAL LIABILITIES AND EQUITY:241,535199,874190,198203,076218,989208,378

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Revenues160,882100,943117,61586,747117,024134,745
Cost of revenue
(Cost of Goods and Services Sold)
(149,864)(95,241)(103,935)(80,926)(97,068)(109,213)
Gross profit:11,0185,70213,6805,82019,95625,532
Operating expenses(9,558)(11,158)(9,782)(16,993)(15,276)(12,580)
Other undisclosed operating loss   (10)  
Operating income (loss):1,459(5,456)3,898(11,182)4,68012,952
Nonoperating income
(Investment Income, Nonoperating)
5,9193265373597
Interest and debt expense(1,053)(695)(926)(1,492)(2,434)(2,621)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes (537)26124142 
Income (loss) from continuing operations before income taxes:6,326(6,656)3,297(12,397)2,32310,428
Income tax expense (benefit)(5,547)1,102(1,076)1,851(663)(3,115)
Income (loss) before gain (loss) on sale of properties:779(5,554)2,221(10,546)1,6607,313
Other undisclosed net income127     
Net income (loss) available to common stockholders, diluted:906(5,554)2,221(10,546)1,6607,313

Comprehensive Income ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Net income (loss):906(5,554)2,221(10,546)1,6607,313
Comprehensive income (loss):906(5,554)2,221(10,546)1,6607,313
Other undisclosed comprehensive income (loss), net of tax, attributable to parent4,75511,798(2,794)(8,733)10,910(11,784)
Comprehensive income (loss), net of tax, attributable to parent:5,6616,244(572)(19,278)12,570(4,471)

Statements sources

The financial statements are based on the company's filings with the 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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