Hwa Fong Rubber (Suzhou) Co., Ltd. caught fire suddenly on Aug. 20.
The cause of the accident and the losses caused are under investigation.
Hwa Fong Rubber (Suzhou) is a wholly owned subsidiary of Taiwan-based Hwa Fong Rubber Industrial Co., Ltd., with annual capacity of 21 million cover tires and 22 million inner tires.
Hwa Fong Rubber announced early Aug. that it had obtained orders from a number of shared bike service provides, including Xiaomi, ofo, 99 Bicycle, and U-bicycle.
The enterprise estimates it will be able to acquire 10% shared bike tire market in China this year.
