IT Tech Packaging Inc. (ITP) stock gains during pre-market. Here’s what’s happening?

IT Tech Packaging Inc. (NASDAQ: ITP) stock gained by 7.53% at last close while the ITP stock price rises by 2.04% in the pre-market trading. IT Tech Packaging a prominent manufacturer and retailer of diverse paper goods in North China, was founded in 1996. ITP makes and markets three types of paper goods: corrugating medium paper, offset printing paper, and tissue paper products, all of which are made utilizing recycled paper as the major raw material.

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What’s up with ITP stock?

IT Tech Packaging has given disaster relief household items, such as masks and daily-use sheets, to Xinxiang in China’s Henan province, where floods caused by days of torrential rains has devastated the area. The supplies were transported from Xingtai city and have now been transferred to a donation station at a middle school in Xinxiang, in order to help local residents maintain a minimum living standard.

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Mr. Zhenyong Liu, CEO, and Chairman of the Company said,

Flooding is ruthless, yet everyone is concerned about the safety of the residents. ITP is actively monitoring the flooding situation and is optimistic that, with widespread assistance, residents in the disaster region will be able to overcome the tragedy, recover, and rebuild their houses quickly.

Recent Past Development

After an on-site examination by authorities, IT Tech Packaging’s tissue paper research center earned a Level B scale-above Certification as an industrial R&D enterprise institution in Hebei province. The State Intellectual Property Office has also given ITP six additional utility patent certificates on paper production equipment.

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Mr. Zhenyong Liu, CEO and Chairman of ITP stock stated,

This is ITP’s first batch of new utility patents, indicating their accomplishments in technological innovation that are protected and acknowledged as intellectual properties. Such honor will give ITP with new incentive to continue its outstanding work in the field of technological innovation in the future.

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