ITP — what changed in the latest 10-Q
A section-by-section comparison of ITP's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2025-11-13 vs the prior 10-Q · 2025-08-14
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +61 | −54 | ~24 | 14 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 2 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 0 |
| Legal proceedings | Text added/removed | +3 | −1 | ~2 | 1 |
| Other information | Text added/removed | 0 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Risk factors
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2025-11-13
Comparison of the Three months ended September 30, 2025 and 2024
Revenue for the three months ended September 30, 2025 was $25,601,344, an increase of $519,844, or 2.07%, from $25,081,500 for the same period in the previous year. This was mainly due to the increase of sales volume of corrugating medium paper (“CMP”) and the increase in average selling prices (“AS…
Monthly sales revenue for the 24 months ended September 30, 2025, is summarized below:
The average selling prices (ASPs) for our main products in the three months ended September 30, 2025 and 2024 are summarized as follows:
Increase from comparable period in the previous year $- $3 $7 $-
Text removed vs the prior filing · source: 10-Q · 2025-08-14
Revenue for the three months ended June 30, 2025 was $24,794,641, a decrease of $1,455,147, or 5.54%, from $26,249,788 for the same period in the previous year. This was mainly due to decreases in the sales volume of corrugating medium paper (“CMP”) and in the average selling prices (“ASP”) of CMP.
Sales Revenue Quantity (Tonne) Amount Quantity (Tonne) Amount Quantity (Tonne) Amount Quantity Amount
Monthly sales revenue for the 24 months ended June 30, 2025, is summarized below:
The average selling prices (ASPs) for our main products in the three months ended June 30, 2025 and 2024 are summarized as follows:
Decrease from comparable period in the previous year $- $(14) $(9) $-
Legal proceedings
Text added vs the prior filing · source: 10-Q · 2025-11-13
On April 29, 2025, due to a labor dispute, Tengsheng Paper was designated as a dishonest judgment debtor by the PRC Court, with the case involving an amount of RMB 72,333.
On July 4, 2025, Tengsheng Paper was listed as person subject to enforcement by the PRC Court in connection with a sales contract dispute, with the case involving an amount of RMB149,325.
The ultimate resolution of the proceedings may have a material adverse impact on our business, financial condition, results of operations or cash flows. Failure to settle the proceedings or other unfavorable outcomes in these proceedings could result in significant damages, additional penalties or o…
Text removed vs the prior filing · source: 10-Q · 2025-08-14
The ultimate resolution of the proceedings may have a material adverse impact on our business, financial condition, results of operations or cash flows. Failure to settle the proceedings or other unfavorable outcomes in this proceedings could result in significant damages, additional penalties or ot…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice