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.
Veken ElitePrivate placement to controlling shareholder raises 500M yuan for working capital, but company has 14 consecutive years of losses and negative gross margin in energy storage.