Nanchang Veken Battery Co., Ltd. announced that it expects to receive CNY 200 million in funding from Veken Technology Co., Ltd.
October 25, 2022
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Nanchang Veken Battery Co., Ltd. announced that it will raise CNY 200 million in a round of funding on October 26, 2022. The transaction included participation from returning investor, Veken Technology Co., Ltd. The transaction has been approved second extraordinary general meeting of shareholders and 21st session of the company?s 10th directorate approved the proposal on changing the raised proceeds investment project and using the raised proceeds to carry out a capital increase in the wholly-owned subsidiary for the implementation of investment project.
Veken Technology Co Ltd is a China-based company mainly engaged in the research and development, production and sales of lithium-ion batteries. The Company's consumer electronics products include pure manganese batteries, ternary batteries, ternary manganese-added batteries, ternary cobalt-added batteries, and pure cobalt batteries, which are mainly used in smartphones, laptops, power banks, smart homes, and drones. The Company's small power battery products include lithium iron phosphate batteries and ternary batteries, which are mainly used in electric two-wheeled vehicles, power tools and other fields. The Company distributes its products within the domestic market and to overseas markets.
VEKEN TECHNOLOGY CO., LTD. 
