NINGBO VEKEN ELITE GROUP CO.LTD

NINGBO VEKEN ELITE GROUP CO.LTD

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Company Overview
Ningbo Veken Elite Group Co. Ltd is a publicly quoted company listed on the Shanghai Stock Exchange which is engaged in the manufacture of home textiles, yarn, fabric and garments. The company was incorporated in June of 1998. Its registered business office is located in Ningbo, China.
Ningbo Veken’s product categories include: acrylic fabric, baby suits/sets, bed linen, blankets, body bags, canvas materials, cotton yarn, cushions, elastic bands, fancy yarn, flannel fabric, interlining, Jacquard fabric, lace fabric, and lace trims. The company’s major customers include: AE (US), Springs (US), Itochu (Japan), Sumitomo (Japan), Nisshinbo (Japan), and Kawashima (Japan). Its current export markets include: Japan, Eastern Europe, North America, Central/South America, and Western Europe.
Ningbo Veken is the largest home textile exporter of China. It owns ten industrial entities and two trading firms. Every year, the company produces more than five million Rashel blankets; approximately six million meters of Jacquard fabric; one million bedding sets; 13,000 tons of sewing thread; 6,000 tons of dyed fabric; 3,000 tons of knit fabric; 2,500 tons of dyed yarn; 1,800 tons of knitted products; 180 tons of warp-knitted products; and more than eight million garments.
Business Summary
The Company’s principal activities are the manufacture and processing of household textiles, cloth series, sewing thread series, yarn spinning series, clothes series, knitting wears and garment fabric. Other activities include the wholesaling and retailing of general merchandise and real estate. The Company’s main products include bed sheets, pillowcase, silk blanket, gauze, and fabric for dressmaking.
Description and history
The Company’s principal activities are the manufacturing and processing of household textiles, cloth series, sewing thread series, yarn spinning series, clothes series, knitting wears and garment fabric. Other activities include the wholesaling and retailing of general merchandise and real estate. Products include bed sheets, pillowcase, silk blanket, gauze, fabric for dressmaking and the like.

HISTORY

The Company was established on July 28, 1993. On June 9, 1998, its shares were listed on the Shanghai Stock Exchange, stock code 600152.

-The predecessor of The Company was “Ningbo Thread Plant” established in 1955, was the first “National Grade 2 Enterprise” in the industry.

-In December 1991, after annexing several textile enterprises, and based on the Ningbo Thread Plant structure, an opening asset integrated group company-Ningbo Thread Group Company was formed.

-In March 1993, approved by Ningbo Government Structure Reforming Office, based on the reform of Ningbo Thread Group and absorbing other social corporations and backbone employees holding the share, Ningbo Dunhuang Group Limited Company was set up.

-In May 1998, The Company issued the stocks publicly and was listed on Shanghai Stock Exchange officially on June 9 at the same year.

-On February 28, 2000, passing through a new round of assets structure readjustment, The Company was officially renamed ‘Ningbo Veken Elite Group Limited Company’.

Business Line
Engaged in the manufacture of home textiles, yarn, fabric and garments
Subsidiary
HUAMEI THREAD COMPANY LIMITED
Advisor
JIANGSU TIANHENG CPA
IPO date
6/9/1998
US SIC Code
2299
Company Address
2, Tiyuchang Road

City province or state postal code
315000, NINGBO
Phone: +86 574 87341480
Fax: +86 574 87279527
Country address: CHINA
Website url: www.vekenelite.com