BAODING, China, Dec. 7, 2021
/PRNewswire/ -- IT Tech Packaging, Inc. (NYSE American: ITP) ("IT
Tech Packaging" or "the Company"), a leading manufacturer and
distributor of diversified paper products in North China,
today announced that the Company has officially started its
surgical masks production after a month of trial production since
the end of November 2021. The
Company's surgical masks comply with China's pharmaceutical industry standard
YY0469-2011. The annual production capacity of the surgical masks
is expected to reach 38 million pieces of mask and gross profit
margin is expected to reach approximately 35%. The Company's
surgical masks have been sold to the local catering and sanitation
industries, and the Company has also obtained bidding
qualifications from various pharmaceutical companies and
hospitals.
According to a report by Arizton, an advisory firm providing
comprehensive market intelligence reports and advisory and
consulting services, the demand for the medical face masks was high
as the impact of Covid-19 pandemic continued to expand. The unit
shipment value of medical masks is expected to grow to 13 billion
units by 2026. Asia-Pacific is
ranked second in consumption of medical masks with an expected CAGR
of 9.42%. For more information about the report, please visit
https://www.arizton.com/market-reports/medical-mask-market-size-analysis.
Mr. Zhenyong Liu, Chairman and
Chief Executive Officer of the Company commented, " Surgical masks
are a key measure and considered as first line of defense to
prevent the spread of Covid-19
pandemic, therefore, the demand for surgical masks has steadily
increased as the fight against COVID-19 becomes normal globally. As
our new product, surgical masks represent the expansion of our
business scale. We will continue to strengthen our business
operation, optimize the product portfolio, and generate significant
economic benefits."
About IT Tech Packaging, Inc.
Founded in 1996, IT Tech Packaging, Inc. is a leading
manufacturer and distributor of diversified paper products and
single-use face masks in North China. Using recycled paper as
its primary raw material (with the exception of its tissue paper
products), ITP produces and distributes three categories of paper
products: corrugating medium paper, offset printing paper and
tissue paper products. With production based in Baoding and Xingtai
in North China's Hebei Province, ITP is located
strategically close to
the Beijing and Tianjin region, home to a
growing base of industrial and manufacturing activities and one of
the largest markets for paper products consumption in the country.
ITP has been listed on the NYSE American since December 2009.
For more information, please
visit: http://www.itpackaging.cn/.
Safe Harbor Statements
This press release may contain forward-looking statements. These
forward-looking statements involve inherent risks and uncertainties
that could cause actual results to differ materially from those
projected or anticipated, including risks outlined in the Company's
public filings with the Securities and Exchange Commission,
including the Company's latest annual report on Form 10-K. All
information provided in this press release speaks as of the date
hereof. Except as otherwise required by law, the Company undertakes
no obligation to update or revise its forward-looking
statements.
For more information, please contact:
At the Company
Email: ir@itpackaging.cn
Tel: +86 0312 8698215
Investor Relations:
Ascent Investor Relations LLC
Ms. Tina Xiao
Email: tina.xiao@ascent-ir.com
Tel: +1 917 609 0333
View original
content:https://www.prnewswire.com/news-releases/it-tech-packaging-inc-officially-starts-its-surgical-masks-production-301438665.html
SOURCE IT Tech Packaging, Inc.