Veken Technology Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2022
April 28, 2022 at 03:59 am EDT
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Veken Technology Co., Ltd. reported earnings results for the first quarter ended March 31, 2022. For the first quarter, the company reported sales was CNY 467.35 million compared to CNY 431.48 million a year ago. Revenue was CNY 467.35 million compared to CNY 431.48 million a year ago. Net loss was CNY 6.55 million compared to net income of CNY 2.47 million a year ago. Basic loss per share from continuing operations was CNY 0.0125 compared to basic earnings per share from continuing operations of CNY 0.0059 a year ago. Diluted loss per share from continuing operations was CNY 0.0125 compared to diluted earnings per share from continuing operations of CNY 0.0059 a year ago.
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.