IT Tech Packaging, Inc. provides update on single-use face mask products

IT Tech Packaging, Inc. (NYSE MKT: ITP) ("IT Tech Packaging" or "the Company"), a leading manufacturer and distributor of diversified paper products in North China, today announced it is applying the license for its new single-use surgical masks from local food and drug administration in Hebei province amid strong market demands. The license is expected to be gained at the end of this month. At the meantime, production of its single-use face masks is now in full capacity as the number of confirmed Covid-19 cases surged again and anti-Covid-19 efforts become increasingly normalized globally. Launched in April, 2020, the single-use face mask production line produces 100,000 masks per day with an estimated gross margin of roughly 40%.