IT Tech Packaging, Inc. to Hold Annual Meeting of Stockholders on July 23, 2020

BAODING,China,June 2,2020 --IT Tech Packaging,Inc. (NYSE American: ITP) ("IT Tech Packaging" or the "Company"),a leading manufacturer and distributor of diversified paper products in North China,today announced that it has filed a preliminary proxy statement for its 2020 annual meeting of stockholders and expects to hold its 2020 annual meeting of stockholders on July 23,2020 at its production base in Wei County,Hebei Province,China.

When: 10:00am Beijing Time,July 23,2020

(10:00pm ET,July 22,2020)

Where: Wei County Production Base,IT Tech Packaging,Inc.

Wei County,054700

As fully discussed in the preliminary proxy statement described below,the stockholders will be asked to consider and vote upon the following proposals at the annual meeting:

1.Election of three Class II directors (Zhenyong Liu,Fuzeng Liu and Lusha Niu) to serve on

the Board of Directors of the Company,with such Class II directors to serve until the 2022

annual meeting of stockholders and until their respective successors have been duly elected

and qualified or until their earlier resignation,removal or death;

2.Ratification of the appointment of WWC,P.C. Certified Public Accountants as the

Company's independent registered public accounting firm for the fiscal year ending

December 31,2020;

3.Conduction of a "say-on-say" advisory vote to approve executive compensation;

4.The approval of a reduction in the exercise price of outstanding warrants issued in a private

placement and the approval of the issuance of common stock representing more than 20%

of our common stock issued and outstanding upon exercise of the warrants in accordance

with NYSE American Rule 713(a)(ii),and

5.Such other matters as may properly come before the meeting or any adjournment or

adjournments thereof.

Stockholders of record at the close of business on June 10,2020 are entitled to receive notice and vote at the annual meeting.

Additional Information

In connection with the annual meeting,the Company filed with the Securities and Exchange Commission (the "SEC") on May 29,2020,a preliminary proxy statement,which is publicly available,and will file with the SEC a definitive proxy statement on or about June 10,2020 and mail a definitive proxy statement to stockholders on or about June 18,2020.INVESTORS AND STOCKHOLDERS ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THE PROXY STATEMENT AND OTHER MATERIALS FILED WITH THE SEC IN CONNECTION WITH THE ANNUAL MEETING,AS THEY CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY ANDTHE PROPOSALS.Upon filing of the definitive proxy statement,stockholders may access the Company's definitive proxy statement,without charge,at the SEC's website www.sec.gov. Upon written request to Ms. Sarah Shi,Secretary,Inc.,Science Park,Juli Road,Xushui District,Baoding City,People's Republic of China 072550,we will provide without charge to each person requesting,a copy of our 2019 Annual Report,including the financial statements filed therewith. We will furnish a requesting stockholder with any exhibit not contained therein upon specific request. In addition,the definitive proxy statement,as well as our 2019 Annual Report,will be available on our Internet website at www.itpackaging.cn .

About IT Tech Packaging,Inc.

Founded in 1996,Inc. 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 American since December 2009. For more information,please visit: www.itpackaging.cn .

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.

For more information,please contact:

At the Company Email:

ir@itpackaging.cn

Tel: +86 0312 8698215

Investor Relations:

Janice Wang

EverGreen Consulting Inc.

Email: ir@changqingconsulting.com

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