The predecessor of Veken Group is Ningbo textile (share-holding) group Corp. which held tens of state-owned textile enterprises. The origin of Veken dated back to "Hefeng yarn factory" which was one of the earliest firms with a history of more than one hundred years and was nicknamed "three and a half chimneys " in the industy of Ningbo.

A series of reformations in labor relationship and property rights brought a brand-new modern enterprise system. With MBO, Veken Group has established encouraging mechanism that "benefits, development and obligation" is directly connected with "position, salary and stock".

Encouraged by the core value conception of "To create and to share together ", we will make our efforts to become a comprehensive, high-efficient international group which focuses on textiles,with combined development in international trade, real estate and energy in the future.Veken group has five subsidiary companies that are "Veken elite", "Veken united", "Veken Real estate", "Veken energy" and "Veken sales" respectively. Veken group has built up many branches and offices in more than 30 domestic cities and USA., Japan, Holland, Poland, Togo, Benin, Hongkong and other countries and districts. As the main production base, the four Industry zones of Beilun, Zhenhai, Hangzhou bay and Ninghai cover 3.5 million square meters. The Veken academy has several national and provincial R&D centers.Veken group lists on the top 500 enterprises and the top 100 export enterprise in China and owns two Chinese name brand, "VEKEN" and "BAOWANG". "DUNHUANG" sewing thread is a well-known brand for exporting products with special support by Ministry of Commerce of P.R.C.