IT Tech Packaging (NYSEMKT:ITP) +13.4% PM, is advancing negotiation with a Shandong based customer, one of its top 5 customers, for paper products orders.

As per the negotiation, ITP and the customer will further cooperate on products supply and purchase in the next quarters and definitive new contracts are expected to be signed by the end of 2020.

Quick look at the company’s revenue mix in latest quarter compared Y/Y:

Further, along with rising clients’ demand the customer will increase its purchases from ITP.

“As Chinese economy recovers from the COVID-19 epidemic with an amazing pace, our top clients such as companies focusing on printing and packaging are also receiving amount of orders and some even have backlog of orders, so they push forward the negotiations for raw materials and increase purchase volume of our products,” chairman & CEO Mr. Zhenyong Liu commented.


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