On the morning of the day before yesterday, a warehouse fire broke out at Zhejiang Langsha Underwear Co., Ltd.'s subsidiary in Yiwu, Sichuan. The fire, which affected an area of about 4,000 square meters, occurred at the company's Phase III plant on Choujiang Street Avenue 4. According to Ma Zhongming, a director of Langsha Shares, the cause of the fire is still under investigation, and the company has suspended trading for one day. An official statement is expected to be released the following day.
The fire started around 10:50 AM and was tackled by 32 fire engines. By the time of the report, the flames were largely extinguished, and the situation was under control. Local authorities in Yiwu confirmed that there were no casualties or significant damage, though the exact cause remains unclear.
The warehouse, which houses a large inventory of finished underwear products, is reportedly not yet fully operational. It is estimated that the goods stored there are valued at nearly 100 million yuan, and the potential losses could amount to billions. However, a Langsha Group employee told a reporter that the fire was not as severe as reported, stating only part of the building was affected and that the losses might not reach the billions.
Langsha Underwear, established in 2006 with a registered capital of 100 million yuan, operates six sub-brands, including Langsha, Mori, and Lifu. In 2009, the company generated sales revenue of 217 million yuan, contributing significantly to the parent company’s profits. Recently, on December 17, 2010, Langsha Underwear received 5.1 million yuan in government funding aimed at supporting industry revitalization and technological innovation in Zhejiang Province.
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