WENCAN's subsidiary Tianjin Xiongbang experienced a fire accident
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WENCAN's wholly-owned subsidiary Tianjin Xiongbang experienced a fire on September 2, 2025. The incident did not result in any casualties, but some factory buildings, equipment, and inventory were damaged. The preliminary assessment indicates that the fire was caused by poor equipment contact, with the specific cause pending verification. The incident is expected to impact the company's performance for the entire year of 2025, and production schedules will also be affected. The company has established a working group to adjust production processes to minimize the impact on customer orders
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