Rouyu Technology and its legal representative Liu Zihong are restricted from consumption

Recently, Shenzhen Royole Technology Co., Ltd. and its subsidiary Shenzhen Royole Display Technology Co., Ltd. added a new consumption restriction order, which also includes Liu Zihong, the legal representative of the two companies.

It is understood that the applicant for the consumption restriction order issued by Royole Technology is Shanghai Baoye Group Co., Ltd., and the two parties are involved in a construction contract dispute. On August 18, 2022, the Shenzhen Intermediate People's Court filed a case concerning the dispute over the application of the enforcement applicant Shanghai Baoye Group Co., Ltd. for the enforcement of the construction contract of Royole, because Royole failed to perform the effective legal documents within the period specified in the enforcement notice. If the payment obligation is determined, the court will take measures to restrict consumption according to law, restricting the company and the company's legal representative Liu Zihong from implementing corresponding high consumption and consumption behaviors that are not necessary for life and work.

Recently Royole Technology stated that some self-media articles, reprints and comments about Royole Technology appeared on the Internet again, which were seriously exaggerated and misleading, which affected the social reputation of the company to a certain extent. The commercial disputes involved in the article have been resolved through friendly negotiation or normal legal channels, and the company is currently operating normally and orderly. The company will continue to pay attention to the false remarks on the Internet and will safeguard the legitimate rights and interests of the company through legal channels when necessary.

According to the prospectus previously disclosed by Royole, from 2017 to 2019 and the first half of 2020, Rouyu Technology achieved operating income of 65 million yuan, 109 million yuan, 227 million yuan, and 116 million yuan respectively, with total revenue of 517 million yuan. During the same period, the net profit continued to suffer losses, with losses of RMB 359 million, RMB 802 Million, RMB 1.073 billion, and RMB 961 million respectively, with a cumulative loss of RMB 3.195 billion in three and a half years.

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