IT Tech Packaging Inc (ITP)

[manatee]

Just released.

For the year ended December 31, 2009, total unaudited revenue increased 57%, to approximately $102.1 million from $65.2 million in the year ended December 31, 2008. Full year 2009 unaudited net income was approximately $12.5 million, or unaudited $1.03 per diluted share, up 43% from $8.8 million, or $0.81 per diluted share, for the year ended December 31, 2008.

"In fiscal 2009, demand outpaced our production capacity, which resulted in a 57% increase in revenue," said Mr. Zhenyong Liu, Chairman and Chief Executive Officer. "Our profitability significantly increased in the full year of 2009, attributable to growth in repeat orders from our current customer base, as well as the addition of new clients. We remain confident that we will continue to achieve strong business growth in 2010, and are confident we will achieve our make good guidance of $18.0 million in net income in fiscal 2010."

About Orient Paper, Inc.

Orient Paper, Inc., through its wholly owned subsidiaries, Shengde Holdings, Inc. and Baoding Shengde Paper Co., Ltd., controls and operates Hebei Baoding Orient Paper Milling Co., Ltd ("HBOP"). Founded in 1996, HBOP is engaged in the production and distribution of products such as corrugating medium paper, offset printing paper, writing paper, and other paper and packaging-related products in China. The Company uses recycled paper as its primary raw material. As one of the largest paper producers in Hebei Province, China, the Company is strategically located in Baoding, a city in close proximity to Beijing where the majority of publishing houses are based. Orient Paper is led by an experienced management team committed to diversifying the Company's product offering and delivering tailored services to its customers. For more information, please visit http://www.orientalpapercorporation.com .