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Caixin

Chinese flexible-screen maker Royole delays employee salaries

Questions raised over whether STAR market listing requirements are too lax

A hat lined with with a Flexible+ display made by Chinese manufacturer Royole is seen at the Mobile World Congress in Barcelona, Spain, in 2019.   © Reuters

Chinese flexible-display maker Royole delayed paying salaries to employees for months after the money-losing company ditched its initial public offering (IPO) plan on Shanghai's Nasdaq-like STAR Market in February.

Several Royole employees told Caixin that they didn't receive October salaries. The company usually pays monthly wages on the 10th day of the following month, but many employees were told on Oct. 10 that only part of their September payments could be made, and that their October salaries would be delayed until Nov. 30.

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