Chairman of IT Tech Packaging Visits Asia Symbol, China's Largest Wood Pulp Producer

BAODING,China,Aug. 23,2019 -- 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 that Mr. Zhenyong Liu,Chairman and Chief Executive Officer of the Company,visited Asia Symbol (Shandong) Pulp and Paper Co.,Ltd. ("Asia Symbol"),the largest wood pulp producer in China and a key supplier of the Company from which the Company currently gets adequate wood pulp on a monthly basis for its tissue paper business.

Mr. Liu commented,"As a leading pulp and paper producer and supplier in China and a key pulp supplier of us,Asia Symbol plays a key role in our tissue paper business which we view as a key growth driver for the Company following our entry into an acquisition agreement with respect to the acquisition of Hebei Tengsheng Paper Co.,Ltd. earlier this year. I had a productive meeting with the senior management team of Asia Symbol and am looking forward to broader cooperation and collaboration with Asia Symbol in years to come as we step up our efforts to grow our tissue paper business."

About Asia Symbol (Shandong) Pulp and Paper Co.,Ltd.

Established in 2002 in Rizhao City,Shandong Province,Asia Symbol is the largest wood pulp producer in China with annual production capacity of two million tons of pulp. Asia Symbol is also a leading manufacturer and suppliers of a full suite of paper products in China. For more information,please visit: http://www.asiasymbol.com/en/.

About IT Tech Packaging,Inc.

Founded in 1996,IT Tech Packaging,Inc. ("ITP") is a leading manufacturer and distributor of diversified paper products in North China. Using recycled paper as its primary raw material (with the exception of its tissue paper products),ITP produces and distributes three categories of paper products: corrugating medium paper,offset printing paper and tissue paper products. With production based in Baoding and Xingtai in North China's Hebei Province,ITP is located strategically close to the Beijing and Tianjin region,home to a growing base of industrial and manufacturing activities and one of the largest markets for paper products consumption in the country. ITP has been listed on the NYSE MKT since December 2009.

Safe Harbor Statements

This press release may contain forward-looking statements. These forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from those projected or anticipated,including risks outlined in the Company's public filings with the Securities and Exchange Commission,including the Company's latest annual report on Form 10-K. All information provided in this press release speaks as of the date hereof. Except as otherwise required by law,the Company undertakes no obligation to update or revise its forward-looking statements.

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