Royole Technology was previously on the hot search, but it was not because of new products and the like, but because it could not be paid. How did Royole, as the company that issued Mercedes-Benz at the previous annual meeting, not be able to pay wages until now?
Royole Technology CEO Liu Zihong is an IBM graduate, graduated from Tsinghua University and Stanford in the United States, and is known as a "genius teenager" in the industry. He and two Tsinghua alumni co-founded Royole Technology in 2012, planning to open up the Chinese flexible technology market and carry out innovative technology research and development from 0 to 1.
Just two years after its establishment, Royole Technology released a flexible display, with a thickness of only 0.01 mm and a curl radius of up to 1 mm, which caused a sensation in the industry at that time.
As a global leader in the flexible technology industry, Royole is committed to making people better perceive the world. Through the core flexible technology independently developed, the company produces fully flexible displays and fully flexible sensors, as well as a full range of new generation human-machine interactive products including folding screen mobile phones and other smart devices.
In 2015, Royole released the world's first foldable head-mounted smart theater Rxyole-X, followed by the release of the smart handwriting book "RoWrite", and the world's first consumer-grade folding mobile phone FlexPai.
According to statistics, from August 2017 to November 2019 alone, Royole Technology has obtained 7 rounds of financing, including CITIC Capital, Shenzhen Venture Capital, Hangzhou Cornerstone, Poly (Hengqin) Capital, which are well-known investment institutions in the industry.
Since then, Royole has proposed an IPO plan to the United States, but eventually turned to the A-share science and technology innovation board.
The turning point of everything also began, according to the prospectus released by Royole Technology.
Royole's net profit from 2017 to 2020 continued to lose 359 million, 802 million, 1.073 billion and 961 million, respectively. In the second half of 2019, Liu Zihong, Fan Junchao and other four senior executives began to borrow funds from Royole Technology.
At this point, Royole Technology has also gone downhill.