Core Viewpoint - Shenzhen Royole Technology Co., Ltd. is facing significant challenges, including a stock freeze of over 138 million RMB for its founder Liu Zihong, reflecting the company's financial difficulties and the impact of its past operational decisions [1][4]. Company Summary - A stock freeze of 138.99 million RMB has been imposed on Liu Zihong, effective from October 13, 2025, to October 12, 2028, by the Shenzhen Qianhai Cooperation Zone People's Court [1][2]. - Liu Zihong, born in 1983, is the founder of Royole Technology, which was once highly regarded in the capital market, achieving a peak valuation of over 50 billion RMB [2][3]. - The company developed revolutionary flexible display technology, including the world's first consumer-grade foldable smartphone, FlexPai, but faced poor market performance due to high prices and design issues [3][4]. - Royole Technology withdrew its application for listing on the STAR Market in 2021 and subsequently faced financial difficulties, leading to bankruptcy proceedings in 2024 [3][4]. - The company currently has a registered capital of 360 million RMB and has no employees, with Liu Zihong holding a 38.6085% stake [3][4]. Industry Insights - The rise and fall of Royole Technology highlight the challenges faced by tech innovation companies in commercializing their products and effectively promoting them in the market [4]. - Despite achieving technological breakthroughs, the company struggled to convert its advantages into market success, exacerbated by over-reliance on capital and setbacks in its listing plans [4].