On the morning of the day before yesterday, a fire broke out at Sichuan Langsha Holdings Co., Ltd. in Yiwu, Zhejiang—a subsidiary of Zhejiang Langsha Underwear Co., Ltd. The blaze engulfed approximately 4,000 square meters of warehouse space, primarily storing finished underwear products. According to Ma Zhongming, a director at Langsha Shares, the company is currently investigating the cause of the fire and has suspended trading for one day. An official statement is expected to be released the following day.
The fire began around 10:50 AM and involved 32 fire engines in the firefighting effort. By the time of the report, the flames had been largely extinguished, and the situation was under control. Local authorities in Yiwu confirmed that there were no casualties, and the cause of the fire is still under investigation.
The fire occurred at a seven-story warehouse located on Choujiang Street, Phase III of the Langsha Company's facility. It mainly stored men's and women's underwear. All nine staff members in the warehouse were safely evacuated.
Despite initial reports suggesting significant losses, an employee from Langsha Group, the company’s controlling shareholder, told a reporter that the fire was not as severe as reported. They mentioned that only part of the building was affected, and the damage might not reach billions of yuan. However, they admitted that the exact extent of the loss remains unclear.
Langsha Underwear, established in 2006 with a registered capital of 100 million yuan, operates six sub-brands, including Langsha, Mori, Lifu, Xing, Anlun, and Gone with the Wind. In 2009, the company generated sales revenue of 217 million yuan, with net profit reaching 29.96 million yuan. This highlights its importance as a key profit driver for Langsha Shares.
Interestingly, just a few months prior, on December 17, 2010, Langsha Underwear received 5.1 million yuan in government funding allocated by the Yiwu City Bureau of Finance for industrial revitalization and technological innovation. The recent fire, however, has raised concerns about the company’s stability and future operations.
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