Originated from the He Feng Yarn Factory in the 20th century, Veken represents the earliest modern industry in Ningbo and has now grown into a leading high-tech industrial investment company with over RMB 10 billion in business volume. Veken invests in industry-leading and emerging high-tech companies across a diverse array of forward-looking industries, including but not limited to new energy, new materials and intelligent technologies.
Veken's investments and business sectors include lithium batteries, power equipment batteries, smart devices, precision silk screens, industrial internet, artificial intelligence, smart chips, information security, technical textiles and apparels, financial services, bulk commodities trade, smart industrial parks and wellness real estates. Veken has made controlling investments in over 100 companies and equity investments in over 60 companies, including over 20 listed companies.
Working in partnership with State Development & Investment Corporation ("SDIC") and several other major state-owned investment entities, Veken is the managing partner of SDIC Venture Capital and SDIC (Ningbo) Science and Technology Achievement Transformation Fund. With over RMB 50 billion of investment capital under management, Veken primarily invests in industry-leading and emerging high-tech companies in cutting-edge industries, including but not limited to new energy and new material, Intelligent Manufacturing 2025, next generation electronic information and automation technology, as well as artificial intelligence.
Veken maintains the original core value of technology and is committed to pioneer the future of intelligent technology. With the mission of "Technology Innovates Life", Veken strives for excellence in high-tech investments and aims to become the leader in high-tech investments in China.


Year Veken Originated


Companies Owned, Controlled or Invested

50 Billion

Investment Capital Managed

Development Path

  • 2021

  • 2020

    On May 18th, Veken Institute (College) and Textile Institute were established. The purpose is to develop a strategic talent pool, cultivate the core advantages of high-tech, and support the long-term development of Veken.

    Since the outbreak of COVID-19 at the beginning of this year, Veken’s subsidery Ningbo Artificial Visual Computing Key Laboratory (AVC Key Laboratory) has rapidly developed and applied the health code throughout Ningbo to indicate health status and empower quick response. Many of Veken’s invested subsidiaries in big data, blockchain, artificial intelligence and cloud computing fields, have made great contributions in fighting the epidemic.

  • 2019

    A number of high-tech investment industrialisation projects have been implemented, science and technology innovation base of SDIC (Veken) has been put into operation, and accelerating the formation of a high-tech industry development pattern based on the Incubation Park of major scientific and technological achievements, leading the era of smart technology.

    On 2019 October 25th, Veken Technology, LG Chem, with Nanchang SASAC signed an agreement in Seoul, Korea, to set up a joint venture to produce and sell lithium-ion batteries.

    The Key Laboratory of intelligent visual computing, jointly sponsored by Veken's subordinate company Zhejiang Dakai Information Technology Co., Ltd., Ningbo Municipal Public Security Bureau and Zhejiang Public Security Technology Institute, is officially unveiled.

  • 2018

    On June 20, Veken, along with SDIC participated in the Series B round of investment in Cambricon Technologies Co., Ltd., a pioneer in AI technologies. The investment brought the company value up to $2.5 billion.

    In June, Veken and SDIC co-led the Series B round investment in Hyperchain Technologies Co., Ltd., turning the company into the first tech unicorn in China’s blockchain industry.

    The sixth Board of Directors was re-elected and established a new investment target in high-tech industry, with new energy, new materials and intelligent technologies at the focus. Veken has entered a new era of high-tech investment.

    Veken, as the general partner of SDIC, initiated and set up RMB 10 billion of SDIC (Ningbo) Science and Technology Achievement Transformation Fund ("Fund"). The Fund was based on the Strategic Cooperation Framework Agreement between the Government of Ningbo and SDIC.

    Veken has teamed up with China's leading scientist Prof. Chu Jian and his teams from SUPCON Group in establishing Ningbo Industrial Internet Institute Co., Ltd. Both parties entered into Cooperation Agreement with SDIC and the Government of Ningbo regarding long-term cooperation.

    The listed company, Ningbo Veken Elite Group Co., Ltd. changed its name to Veken Technology Co., Ltd., with the new energy business at the focus.

    Co-founded by Veken, Ningbo Industrial Internet Institute has been established to put into operation its industrial operating system, industrial safety control system, and intelligent chips.

  • 2017

    In October, Veken, along with SDIC closed the investment in Zhejiang Jin Rui Hong Technology Co., Ltd. The investment fund would be used to further develop top-end semiconductors as well as improve production capacity, reducing reliance on foreign technologies.

    In August, Veken and SDIC participated in a $100 million Series A round of investment in Cambricon Technologies Co., Ltd., the first tech unicorn in China’s AI industry.

    On July 24th, the major asset restructuring project of Veken Elite (Stock market code: 600152) was approved by the China Securities Regulatory Commission.

    On July 7th, Ningbo Veken Silk Screen Co., Ltd. was listed on the New Third Board (Stock market name: Veken Silk Screen; Stock market code: 871506)

  • 2016

    Veken has been elected as the general partner of SDIC with over RMB 12 billion under management. The total return on high-tech investment has exceeded RMB 20 billion.

    The reform of management system has been implemented, resulting in a new investment structure that is managed by the board of directors. Veken has shifted from an industrial operations corporation to an industrial investment corporation.

    In March, Veken moved its headquarters to the Veken Moon Lake Jin Hui Building.

    Veken Battery was included in Made in China 2025 Ningbo Action Plan. Ningbo Veken New Energy Technology Co., Ltd. and Ningbo Veken New Energy Power Equipment Battery Co., Ltd. were founded. Veken has entered the power equipment battery market.

    On January 28th, Ningbo Veken Battery Co., Ltd. was listed on the New Third Board (Stock market name: Veken Battery; Stock market code: 835456).

  • 2015

    On December 21, the subsidiary Ningbo Gao Xin Logistics Co., Ltd. hosted a grand opening ceremony for the launch of Supply Chain Logistics in Export Processing Zones Project, which marked the company’s business expansion.

    Veken successfully acquired the Ningbo Free Trade Zone Gao Xin Containers Co., Ltd., achieving industry synergy and complementary advantages in bulk commodities trading. It laid a solid foundation for the development of supply chain finance.

  • 2014

    On November 18, Veken entered into an agreement to invest in Caitong Securities, a leading securities company in China.

    On October 20, Veken Battery Co., Ltd. brought in industry renowned partners to fuel expansion.

    Veken Battery Co., Ltd. and Veken Silk Screen Co., Ltd. won the awards of National High-tech Enterprise.

  • 2013

    In October, Veken’s project “DPPS High Precision Digital Silk Screen Printing” was selected as “2013 National Torch Plan Key Project” by the Ministry of Science and Technology.

    On September 14, Veken Battery Co., Ltd. established Qian Yitai Academician Workstation, the first national academician workstation in Ningbo Free Trade Zone.

    Veken took the lead in setting the industry standards of FZ/T61007-2012 Home Textile - Blankets with Extra Fine Fabrics. Approved by the Ministry of Industry and Information Technology, the Standard  went into effect on June 1, 2013.

    Ningbo Veken Battery Co., Ltd. was named as the 2013 Ningbo High-growth Company.

  • 2012

    In May, Veken completed the company structure reform, resulting in five streamlined industries – textile, trade, real estate, investment and new energy.

    On May 18th, Ningbo East Sea Financial Leasing Co., Ltd. was established. Veken officially started out high-end financial services.

    On April 27th, Veken Shanghai Han Jun Company was selected as the Pilot Company for Futures Bonded Warehouse. Veken's bulk commodities trade has started to take shape.

    In January, Veken acquired Jiangxi YaYa Company, the top 3 winter jacket manufacturer in China.

  • 2011

    On December 8th, Veken Venture Capital was named Top 50 Chinese Local Venture Capital Institutions.

    On September 12, Ningbo Government, for the first time released a list of The Most Influential Companies. Veken was ranked No. 4 in Best Manufacturers based on its performance across a set of widely accepted indicators of excellence.

    On February 17, “Veken ・Waterside” community was awarded the “Model Community of Property Management in China”, making Veken the first company in Ningbo to meet national standards in property management.

  • 2009

    In February, Veken simplified the management systems and successfully acquired its shareholder Hua Tai Investment.

  • 2008

    On December 3rd, Veken repurchased 25% of its state-owned shares held by Ning Xing (Ningbo) Asset Management Co., Ltd. The state-owned capital was completely withdrawn, and Veken's management teams fully owned the company.

  • 2007

    On September 10th, Veken entered into agreement with a Japanese company, KB Tsuzuki Co., Ltd. regarding long-term cooperation on silk screen project. It marked Veken's official entry into the high-end silk screen industry.

  • 2006

    On October 18, Veken opened "Veken Class" in Zhejiang Textile and Fashion College.

    On November 2, we set up a "Veken Group Employment Base" with Zhejiang Sci-Tech University to start a new mode of training talents through School-enterprise cooperation.

  • 2005

    Veken acquired a Japanese company Kanebo Fiber Co. Ltd., a world-renowned textile company known as "the century-old textile company in Japan". As a part of the acquisition, Veken obtained Kanebo's core equipment, right of its trademark including "KOYO", and the shares of its foreign-invested companies.

    On May 25th, Veken organized the APEC Textile Trade Seminar. The Chairman, Chengming He, delivered a keynote speech "Raising the Sail of Mutual-understanding; Building the Bridge of Corporation", which called for establishment of fair-trade environment under the WTO framework and promotion of sustained development of textile industry in Asian-Pacific region.

  • 2004

    In August, Veken joined Jiangsu Textile Company in acquiring Jiansu Zhenfang Group, which was the first cross-region industrial park of Veken.

    On May 18th, the company name was changed to Veken Holding Group Co., Ltd., transiting to a cross-region and cross-industry company. Veken began investing in new energy, new materials and other technology industries.

  • 2003

    In October, Veken held the International Business Festival, inviting business partners and clients from across the world to participate in promotion of industrial cooperation.

  • 2002

    On July 14, the first board of directors meeting was held.

    In May, the reform of the property rights system and labor system was completed. Veken shifted from a stated-owned company to a mixed ownership company.

  • 2001

    On October 8, a groundbreaking ceremony was held to celebrate the beginning of construction for Veken Beilun Industrial Park.

  • 2000

    On Febuary 28th, Ningbo Dunhuang Group Co., Ltd. was renamed to Ningbo Veken Elite Group Co., Ltd., which was referenced to as "Veken Elite" (Stock market code: 600152).

  • 1999

    On July 27th, Veken acquired a listed company, Ningbo Dunhuang Group Co., Ltd. (Stock market code: 600152).

  • 1998

    As a result of the reform and restructuring of Ningbo Textile (Holding) Group Co., Ltd., Ningbo Veken Group Co., Ltd. was established on May 18th. The company maintained the advanced skills, techniques and market advantages of the previously state-owned textile companies, with textile technology at the focus. The name "Veken" represented the concept of absorbing the essence of fabric technologies.

  • 1996

    Ningbo Textile (Holdings) Group Co., Ltd. was established, holding the majority of shares of more than 50 state-owned textile companies in Ningbo.

  • 1982

    He Feng Yarn Factory increased its production to 72000 spins, with a total of 672 machines.

  • 1980

    The production of He Feng Yarn Factory increased from 6000 spins in 1950s to 42000 spins in 1980.

  • 1953

    At the end of 1953, He Feng Yarn Factory implemented a system of joint state-private ownership.

  • 1914

    As the aggregated production reached 23200 spins, He Feng Yarn Factory became the largest factory in Zhejiang Province in 1910s.

  • 1907

    On March 6, He Feng Textile Co., Ltd. was established.

  • 1905

    Veken can be traced back to the He Feng Yarn Factory in 1905, which represented the earliest modern industry in Ningbo. It had the largest business volume in textile industry in Zhejiang Province at the time.

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    The business operations are managed by capitals, company regulations and authorized management. At the holding company level, the administration departments and business departments are managed under the board of directors. At the enterprise level, the day-to-day business are managed under the enterprise's board of directors.

    Group Honors

    Honors and Awards

    Top 500 Companies in China

    Top 500 Manufacturers in China

    Top 500 Private Companies in China

    Top 500 International Trading companies in China

    Top 500 Most Valuable Brands in China

    Top 100 Companies in Zhejiang Province

    Top 100 Service Companies in Zhejiang Province

    Top 100 Tax Paying Companies in Zhejiang Province

    Top 5 Manufacturers in Ningbo

    Most Advanced Headquarter in Ningbo

    Top 100 Companies in Ningbo

    Top 100 Service Companies in Ningbo

    Top 50 Tax Paying Companies in Ningbo

    Top 50 Industrial Brands in Ningbo

    The Celebrity Company in Ningbo

    The Most Valuable National High-Tech Investment Company in China

    Industry Position

    New Energy Battery Field:Top 5 Providers of 3C Digital Batteries in China

    New Material Silk Screen Field:Top 1 Company in China
    Top 5 Companies in the World

    P.E. Field:Top 50 PE Venture Capital Investment
    Companies in China

    Fund Field:SDIC - the largest state-owned investment company in China, with the most diversified investment portfolio
    CURA - the first listed company on the New Third Board in real estate industry in China, boasting the largest volume of investment fund

    Securities Trading Field:Caitong Securities - a leading securities in China, boasting several Golden Ox Awards

    Social Responsibility

    Social responsibility has been a core value of Veken since our founding. Veken believes that "giving back", "growth" and "responsibilities" are the keys to delivering sustainable and profitable growth to shareholders, consumers, business partners, communities we live, and the planet we inhabit.
  • Veken well-regulates its business conducts and is a socially supportive company. Veken takes a variety of measures to ensure that all business practices are carried out in a manner that abides by the company's stated business principles with respect to business integrity, intellectual property protection, fair business practices, tax payments, and the highest industry standards and values.
  • With the philosophy of "Achieve enduring prosperity together", Veken is devoted to building a collaborative environment that all its business partners can benefit from the transaction in one way or the other.
  • As the Top 50 Tax Paying Companies in Ningbo, Veken provides environmentally friendly products and services, desiring to improve the lives and individual well-being in the communities. Veken is committed to using renewable energy and reducing carbon emissions from its plants.
  • Veken supports a wide range of efforts for education, including setting up Veken College, Veken Courses and Veken Scholarships. Additionally, Veken has contributed a significant budget in funding children in need, donating to charities, and helping the support and care of people in hard-hit areas in China.