Royole Display Technology Co., Ltd. declares bankruptcy

The Shenzhen Intermediate People's Court announced that Royole Display Technology Co., Ltd. was declared bankrupt on November 18, 2024 because it was unable to repay its due debts and its assets were insufficient to repay all debts. Royole Technology launched the world's first foldable flexible screen mobile phone FlexPai, which attracted widespread attention in 2018. However, the company withdrew its application for listing on the Science and Technology Innovation Board in 2021, with a cumulative loss of approximately 3.2 billion yuan.