When unicorns lose their magic: Royole shows steep path for China IPOs

Source: kr-asia.com kr-asia.com

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The Chinese startup that debuted the “world’s first commercial foldable smartphone” in 2018 drew a different kind of attention in April when one of its directors, Liu Shuwei, issued a statement on social media simply titled “Rescue Royole.” “I suggest that the government actively help Royole with its shortage of funds and help Royole bring in strategic investors,” Liu wrote. The Shenzhen startup, founded like many of its peers in the 2010s, has joined the growing ranks of once-promising Chinese tech unicorns that have lost their way trying to reach their industry’s top tier. Royole’s troubles are no secret. The...