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Veken Elite

Veken Technology Co., Ltd. is a Chinese company that researches, develops, manufactures, sells, and services lithium and sodium batteries. Its products include batteries for cell phones, tablets, laptops, power banks, electric bikes, motorcycles, tricycles, power tools, vacuum cleaners, motorized curtains, robots, and various starting and energy storage applications. The company was formerly known as Ningbo Veken Elite Group Co., Ltd. and changed its name to Veken Technology Co., Ltd. in May 2018. Founded in 1993, it is based in Ningbo, China.

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Veken Technology Releases 2026 Interim Report with Net Loss of 37.2783 Million Yuan

Veken Technology released its 2026 interim report on August 25, 2026. The company's total operating revenue was 838 million yuan, and net profit attributable to the parent company was a loss of 37.2783 million yuan. Net cash flow from operating activities was a negative 39.098 million yuan, a decrease of 34.9189 million yuan compared with the same period last year. The company's latest asset-liability ratio was 44.06 percent, an increase of 4.40 percentage points from the same period last year. Gross margin was 12.12 percent, return on equity was negative 2.29 percent, and diluted earnings per share was negative 0.07 yuan. Total asset turnover was 0.29 times, and inventory turnover was 1.67 times, down 8.45 percent year on year. The company had 68,200 shareholders, and the top ten shareholders held 207 million shares, accounting for 39.21 percent of total share capital.
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Veken Technology posts loss of 37.28 million yuan in first half of 2026

Veken Technology disclosed its semi-annual report for 2026. In the first half, total operating revenue reached 838 million yuan, up 31.35 percent year on year, but net profit attributable to the parent company showed a loss of 37.28 million yuan, compared with a loss of 39.15 million yuan in the same period last year. Net profit after deducting non-recurring items was a loss of 38.9 million yuan, versus a loss of 53.16 million yuan a year earlier. Net cash flow from operating activities was negative 39.1 million yuan, compared with negative 4.18 million yuan in the prior-year period. Basic earnings per share during the reporting period were negative 0.07 yuan, and the weighted average return on equity was negative 2.26 percent. The company's main businesses include consumer batteries, small power batteries, and sodium-ion battery energy storage.
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Veken Technology's Application for Share Issuance to Specific Investors Accepted by Shanghai Stock Exchange

Veken Technology announced that its application for the issuance of shares to specific investors was accepted by the Shanghai Stock Exchange on July 31, 2026. The issuance still needs to be reviewed by the Shanghai Stock Exchange and registered with the China Securities Regulatory Commission.
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Veken Technology Plans Private Placement to Controlling Shareholder to Raise 500 Million Yuan for Working Capital

Veken Technology has released a private placement plan, proposing to issue no more than 68.4932 million shares to its controlling shareholder Veken Holding, raising no more than 500 million yuan, all to be used to supplement working capital. The company's net profit after deducting non-recurring items has been in the red for 14 consecutive years, with cumulative losses exceeding 1.8 billion yuan. Revenue in 2025 fell to 1.417 billion yuan, with all four major business segments weakening and the gross margin of its energy storage battery business turning negative. While its sodium battery business has yet to become profitable, the company's board secretary office revealed plans to enter the computing power track by deploying data centers, though its financial strength and customer pipeline are in doubt. After the controlling shareholder fully subscribes to the private placement, the actual controller's voting rights will rise from 29.28 percent to 37.39 percent. Analysts see this as providing liquidity support, but minority shareholders will still bear the pressure of the transformation.
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Veken Technology expects a loss of 37.83 million yuan in the first half of 2026

Veken Technology disclosed its performance forecast, expecting a net loss attributable to shareholders of 37.83 million yuan in the first half of 2026, compared with a loss of 39.15 million yuan in the same period last year. The net loss after deducting non-recurring items is expected to be 39.41 million yuan, compared with a loss of 53.16 million yuan a year earlier. The company's main businesses include the research, development, production and sales of consumer batteries and small power batteries, as well as sodium-ion battery energy storage. The change in performance is due to a provision for inventory write-downs of 18.72 million yuan, a provision for credit impairment losses of 2.38 million yuan, higher costs as the sodium-ion battery business is still in the ramp-up phase, and persistently high prices of key raw materials such as lithium cobalt oxide, copper foil and electrolytes, which have squeezed profit margins.
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