Bankruptcy Ruling for ROYOLE Technology
According to an announcement by the Shenzhen Intermediate People’s Court, ROYOLE Technology Co., Ltd. has been officially declared bankrupt. The company’s current liabilities exceed its assets, leaving it unable to meet its debt obligations. This decision was made based on the findings of a court-appointed administrator and in accordance with Chinese bankruptcy laws.

Subsidiaries Also Declared Bankrupt
The bankruptcy ruling extends to ROYOLE Display Technology and ROYOLE Electronics Technology, both of which are similarly unable to repay their outstanding debts. The ruling, which took place on November 18, 2024, follows a legal process initiated by creditors earlier this year.
A Tech Pioneer’s Rise and Fall
Founded in 2012, ROYOLE Technology was once hailed as a pioneer in flexible display technology. The company launched the FlexPai, the world’s first foldable smartphone, and introduced a groundbreaking Micro-LED flexible display. It also claimed to have broken Samsung’s technological monopoly with its innovative super-low-temperature, non-silicon processing technology, hailed as a “light of domestic innovation.” In 2020, ROYOLE was valued at $6 billion, securing a place in the top 12 of China’s “New Economy Unicorns” list.

Legal Proceedings and Administrator Appointment
In May 2024, ROYOLE faced a wave of creditor claims, which led to the court accepting bankruptcy liquidation applications for the company and its subsidiaries. The court appointed Guangdong Huashang Law Firm as the administrator for ROYOLE Technology on June 6, 2024.
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