February 19th, 2025, Shenzhen ROYOLE Display Technologies Co., Ltd., the global pioneer in foldable smartphones, was officially declared bankrupt on November 18th of last year by the Shenzhen Intermediate People’s Court. This marks the end of an era for the company.
Previously, ROYOLE Display Technologies had its assets auctioned off multiple times, with the initial valuation of ¥1.23 billion (~$172.2 Million) dropping to ¥787 million (~$110.2 Million), but still found no buyers. [Click here for more details.]
Subsequently, the company began separately auctioning off its individual assets, such as vehicles, equipment, and land. According to the Ali Judicial Auction official website, 12 properties and a batch of equipment located at ROYOLE International Flexible Display Industrial Park in Pingdi Street, Longgang District, Shenzhen, were successfully auctioned off on January 25th, 2025. The total transaction price was ¥503.9 million (~$70.5 Million).
While the buyer’s identity remains uncertain, the auction map seemingly reveals the buyer’s identity, as the site now shows “HKC Branch” on the map.
According to media reports, the relevant authorities set relatively high thresholds for bidders:
- The industry category for entry is Ultra-High Definition Video Display.
- Bidders must be registered legal entities in Shenzhen.
- The bidder or its controlling parent company must have been involved in the permitted industry for at least 3 years.
Based on these conditions, HKC seems to meet all the required qualifications.
It is worth noting that the buyer will be responsible for covering the monthly production line maintenance costs, approximately ¥5 million (~$700,000). This includes electricity (¥3.3 million, ~$462,000), water (¥100,000, ~$14,000), security (¥110,000, ~$15,400), liquid nitrogen (¥300,000, ~$42,000), and employee wages and social security (¥1.2 million, ~$168,000).
The auction information also indicates that the buyer will assume responsibility for maintenance fees from the date of successful auction.
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