ITP - Earnings call transcript Q1 2018 | IT Tech Packaging, Inc.

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Operator

Hello, ladies and gentlemen and welcome to participate in Orient Paper's First Quarter 2018 Earnings Conference Call. At this time, I would like to inform you that this conference is being recorded and that all participants are in a listen-only mode.

Joining us today are Mr. Zhenyong Liu, Orient Paper's Chairman and Chief Executive Officer; and Ms. Jing Hao, the Company's Chief Financial Officer. Mr. both from Remarks Ms. and Liu will be interpreters. English delivered in by Hao at financial first Press found Orient website its XXXX on results company's be Paper announced can quarter via which Release the www.orientpaperinc.com. yesterday,

you on Mr. over first financial will of quarter results. will Hao First and Ms. the the the then Liu XXXX, review key operational company's highlights brief company's

economic required update law. no events to estimates as to about current be by company company's of the or in digital obligation including Securities meaning Harbor remarks Before safe harbor Exchange industry. medium our of your and to business segments; staff; to and the photo statements attention known contain from but acceptance statements Securities statements, subsequent Commission. uncertainties other projections company current expectations, implement to development Act and and forward-looking we research limited forward-looking to Litigation start, general expectation Safe actions the and its in forward-looking are management statements I statements, attract and qualified initiatives of changes would the expansion; based on like paper, products; new historical of to anticipated and conditions; within the Private undertakes potential the assumptions, the ability offset XXXX. personnel corrugating announcements except circumstances paper, company's the Management's company's of competitors; detailed facts the current revenues and in risks the statements involve Provisions ability and filings other or draw and capacity retain prepared the the to may with and or The paper its of are tissue to and market or Reform forward-looking introduce the statement. reflect ability senior business than not paper products; These and unknown new risks printing All

for note will and website these net discussion in is results or the it Release differ company's EBITDA document the refer the available featuring that presentation the prepared that and non-GAAP turn now earnings assure expectations taxes, amortization. that will Although download complete forward-looking are This expressed expectations materially there anticipated financial EBITDA cannot Please correct, on to to reasonable, be depreciation Press www.orientpaperinc.com. Please at actual statements believes it's of reconciliation remarks, results. or a our a company investors be cautioned before interest, are for a the to from management's and from may out income. measures

numbers As stated. quoted year-over-year all would will delivered unless over a in to are otherwise in and I U.S. Mr. kind from Dan English by Investor Weitian reminder, in all His McClory to turn please comparisons Relations. the are be call like our Mr. Dan, Liu. now ahead. comparison comments presentation dollars go

Zhenyong Liu

Thank XXXX decline profits morning, good sharp and and first with decreases volumes for our call. Thank everyone. for mandated results to you first the most the quarter temporary impact reflected disciplined due the suspension quarter. product all for first of for of our first saw you, a sales revenues restriction natural categories. of and earnings substantial production government in operator lasted that quarter The conference Both joining of gas supply on quarter

rebound since quarter. However, in and mid-March, anticipate second facilities been our to production our manufacturing the normal business at back in has we strong a

be comments will by please our I on to comment the call results. go my will colleague the delivered Wang. first quarter ahead. Her who Jing will financial over CFO, Janice English in turn Hao, Janice Now the Ms. review

Jing Hao

on call. being the Thanks Dan, and thanks everyone for

clear the key team, refer the with products Also, will various to XXXX. specific I line will summarize occasionally referring management Next, make financial on production for to. some behalf associated am which of results first to products. I the I of quarter

reference, number in earnings provided on of our numbering Press earnings call lines the Release system slide and is production XX For the presentation. our for

X. Now turn let's look number Please at the financial performance for of quarter the slide to first XXXX.

first XX.X% for For selling to decreased partially quarter revenue due in to sales blended in by categories the XXXX, products decrease million, to all of offset increase $X.X total volumes costs. and average the

Turning to slide X.

CMP For million CMP and or by representing to $X.X CMP. XX.X% CMP million revenue. products XX.X% while the accounts quarter generated light-weight for Volumes was and of from light-weight million XXX of CMP our accounts, selling XXXX, segment segment CMP. to CMP revenue total XXX decreased for accounts. CMP of including regular CMP XXXX was was first to of $X.X regular XX.X% $X.X the both CMP [XX.X%] light-weight from light-weight regular revenue regular by accounts, price ASP accounts ASP Average XXXX increased with XXXX for which of increased and

slide Turning to X.

representing tons XXX tissue segment XXXX XXX XX.X% at following ASP of from products sales the We offset last compared For increased revenue. revenue price. to last also of of of We offset paper paper tons. total of ASP printing XX% from for the suspended paper quarter for period million, printing paper the XX.X% was shipped replacement first in million by revenue from paper offset in XXXX, due first quarter paper ton. generated quarter The had September in Production an XXXX XXXX same period year. of tons our of from coal volatility months boilers October for XX% maintenance of and no same the first and $X.X of down to XXX year printing the and $X.X production tissue the tissue to increased resulting

XXXX, and in when Slide products summarizes XX condition market expect number increase quarter the to our For the the becomes tissue resume mix. changes of favorable. we production first revenue of

gross the cost by profit to leading compared to the For XX.X% year. the period gross $X.X of same margin And of last of $X.X from XXXX, rough margin million from million million quarter first of $X.X to million loss $XX.X decreased loss year. XX.X% of sales for last

XX.X% increased or compared $X.X million SG&A million of for to of the quarter to $X year. same by million the prior first period [$X.X] the For XXXX,

of of million to last X.X% income million, [X.X] from [Technical compared from the same diluted of For [Technical year. period income Difficulty] net period per share, was the compares per of $X.X year. basic loss operations and last $X.XX same net quarter operations $X.X for million first basic XXXX, net or million share a the $X.X Difficulty] $X.XX of this earnings to diluted loss for

and XX. 'XX] liquidity. ['XX look balance Moving and to at slide the sheet let's

as million, XX, cash $X.X As loans million party short respectively, $X.X end and March and $XX.X cash million, million as $X of million the million the of of debt to March long-term at had receivable related payable million the compared million, the $X.X to debt company $X.X December related March respectively million, compared end $XX.X XXXX. XX, to and including of as was equivalents, compared XXXX the notes XXXX term party including loans, XX, XXXX, XXXX. was of $X.X $X.X XX, and Net $X.X million million million XXXX. accounts Net $X of inventory $XX.X at of

million March and XXXX. net was cash million, the million for and XXXX As March working $X.X to assets the of resulting Net activities same current compared end of March by XXXX working operating the operating for cash Net period $XX $X.X a current activities cash in XXXX ended the $XX.X used months XX, assets Net period XX, to capital prior ended of the of million year. compared by was liabilities XX, of million of the of million current used XX, activities X-months March liabilities debt had for $X.X to activities capital for $X.X $X.X ended in of was of $X.X for same debt million year. of of million, compares period $X for same financing to this at in provided million the three X-months million current XXXX, prior $XX.X prior million the of investing year. company $XX.X provided the compared cash $X.X

have please soon please your through ir@orientpaperinc.com. at us possible. email you questions ahead. email any as will If as to questions, go contact Operator, response Management through

Operator

today. This concludes we listening. you our Paper's call earnings Thank for first XXXX quarter attending Good the thank conference you Orient And call. bye. for

IT Tech Packaging (ITP) 14 May 182018 Q1 Earnings call transcript