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Text / Feng se Xiao Xiao

Ruoyu technology, which has raised 13 rounds in 10 years and was once valued at 52.5 billion, really can’t work.

From years of losses in the financial report to the salary arrears exposed this year, all kinds of news, true or false, have now been confirmed by Liu Shuwei.

Recently, as an independent director, she published a nearly 2000 word long article on wechat official account and Weibo calling for:

Save jou woo.

What happened to this technology company, the darling of former capital, who is determined to break the mobile phone flexible screen market dominated by Samsung?

Is it the next LETV?

Wait, speaking of LETV, as a “A-share counterfeiter”, Liu Shuwei is known as its “grave digger” - how can her attitude be different in the face of the same controversial company?

Who is Liu Shuwei?

In the industry, one of Liu Shuwei’s most famous titles is “anti counterfeiting fighter”.

Liu Shuwei graduated from Heilongjiang University with a bachelor’s degree and obtained a master’s degree in economics from Peking University. He is now a researcher of the Institute of Finance and economics of the Central University of Finance and economics and director of the China Enterprise Research Center.

What made Liu Shuwei famous in the first World War was the “Lantian incident” that caused a nationwide sensation in 2001.

With a 600 word article, Liu Shuwei revealed that there was a loan black hole in Lantian, known as “the first share of China’s agriculture”, and “it was entirely dependent on bank loans to make a living”. Since then, relevant national banks have stopped issuing new loans to Lantian shares, and finally Lantian declared bankruptcy.

Therefore, Liu Shuwei was also rated as “CCTV moving Chinese figure in 2002” and “CCTV economic person of the year in 2002”.

What made Liu Shuwei famous again was her public questioning of LETV in 2015.

At that time, Liu Shuwei didn’t even think that many people didn’t understand the Internet at all. Until the outbreak of LETV crisis in 2017, Liu Shuwei’s prediction came true and won the title of “LETV grave digger”.

During this period, she also criticized Midea and run on Baoneng. Many companies have encountered her “shelling”, and she was once called “the most dangerous woman in a shares”.

However, this time, her platform is just a controversial company at the forefront of the storm, Rouyu.

In this open letter entitled “saving Rouyu”, Liu Shuwei listed the R & D achievements since the establishment of the company in 2012, the strength and capital of the current technology in the industry, and put forward the current difficulties of the company and rescue suggestions.

The letter believes that saving Rouyu is saving an “internationally leading technology”:

Save Rouyu and maintain China’s international leading level in the field of flexible technology.

Liu Shuwei mentioned that now Rouyu’s technology, and even “South Korea lists similar technologies as the next generation of national research projects, which are undertaken and developed by Samsung”. However, due to the shortage of funds, Rouyu is unable to carry out continuous R & D work at present.

In short, Rouyu has very advanced technology, but has no money to continue research and development.

This is not the first time Liu Shuwei has set up a platform for Rouyu. As early as last November, she once spoke in the circle of friends.

In fact, Rouyu is not Liu Shuwei’s first company to open the “platform”.

According to the prospectus of Rouyu, in addition to Rouyu, Liu Shuwei also serves as an independent director of Vanke, Gree and China Optics.

Previously, in the acquisition of Vanke by Baoneng, Liu Shuwei once supported Vanke and questioned the source of acquisition funds of Baoneng. Then she became an independent director of Vanke.

After becoming an independent director of Gree, Liu Shuwei criticized the Guangdong securities regulatory bureau, saying that it sent a warning letter to Gree rather than to Midea, but Midea also disclosed its annual profit before the performance bulletin. Subsequently, Midea also received a warning letter.

According to the relevant provisions of the CSRC, the information disclosure obligor shall not release information on the company’s website and other media before the designated media, and shall not replace the reporting and announcement obligations in any form such as press release or answering reporters’ questions.

According to Sanyan financial news, according to the annual salary of independent directors disclosed by Vanke, Gree and China Optics (600000 yuan, 150000 yuan and 130000 yuan respectively), Liu Shuwei’s annual salary as independent directors in these three companies reached 880000 yuan. In addition, although Rouyu did not disclose the specific remuneration of independent directors, the prospectus also shows an allowance.

However, this time, compared with her for Gree or Vanke platform, or anti-counterfeiting LETV and Lantian, the external evaluation of her is quite different.

After Liu Shuwei sent this letter, the voice of doubt was overwhelming, and some netizens even angrily scolded her as “an open platform for a liar company”.

Comments show that many netizens believe that the company’s “products are not good” and “its reputation has long been smelly among science and engineering engineers”.

So, what’s the matter with Rouyu, a company that has been pushed to the forefront again?

“Technological innovation” did not earn a salary

In fact, when Rouyu first asked about the market, he was once famous for “flexible screen technology innovation”.

However, in the past decade, the company with “cutting-edge technology” has not welcomed the popularity of the market.

The founder is young and promising, and the company has raised more than 10 billion yuan in eight years

Liu Zihong, the founder of Ruoyu technology, has an extraordinary resume:

Jiangxi Fuzhou university entrance examination science champion, Tsinghua University Electronic Engineering Bachelor and master, in Stanford University Research “flexible display” less than three years to get a doctorate in advance.

At the age of 26 that year, he immediately entered IBM’s global R & D center in New York with an annual salary of one million.

Three years later, he resigned and returned to China, founded Ruoyu technology and focused on flexible display technology - at that time, it was still 2012, and the concept of folding mobile phone had not been reflected.

In 2014, Ruoyu Technology launched the world’s thinnest full-color AMOLED flexible display with a thickness of only 0.01mm.

In 2018, the screen was mass produced in Shenzhen Park. In the same year, Rouyu launched the world’s first foldable flexible screen mobile phone - flexpai (“roupai”).

A meal of innovation has made Rouyu attract the attention of capital. By 2020, Rouyu has financed 13 rounds of capital in eight years, with an amount of far more than 10 billion yuan.

As one of the fastest-growing Unicorn technology startups in the world, its valuation is as high as US $6 billion, and the founder Liu Zihong’s value soared to more than 10 billion, once ranking Forbes China rich