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during the recent live broadcast of the 2024 u.s. open, liu zihong, founder and ceo of royole technology, was spotted in the stands.

image source: live screenshot

at the same time, several former employees of royole technology confirmed to reporters that the man in gray in the live broadcast was indeed liu zihong.

at present, this flexible display unicorn company that once claimed to build a "flexible planet" is being declared bankrupt by its employees.according to tianyancha, on may 28, shenzhen royole technology co., ltd. and its subsidiary shenzhen rouxian system technology co., ltd. added one new person subject to execution information, with the execution target of more than 68.68 million yuan, and the executing court is the longgang district people's court of shenzhen. tianyancha shows that the company has dozens of historical persons subject to execution information, and the total amount of execution exceeds 3.2 billion yuan.

earlier, royole had a new bankruptcy review case. in april this year, a hearing was held at the shenzhen intermediate people's court for the bankruptcy review of royole technology. at that time, royole technology's debt exceeded 4.7 billion yuan, and the arrears of wages and salaries exceeded 60 million yuan. together with the previously promised options, the total arrears of wages was 160 million yuan.

currently, liu zihong is still the largest shareholder of royole technology, holding 38.61% of the shares. the second largest shareholder is citic capital (shenzhen) asset management co., ltd., holding 6.05%.

from the ongoing "equity freeze", "forced execution" and "wage arrears" storms in recent years to today's "bankruptcy review", royole technology, once a darling of capital, has been plagued by various negative labels.