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BUSINESS & TECH

Flexible-Display Maker Pockets $560 Million in New Funds From Big Banks

By Yang Ge
Amid the high expectations for the future of its products, Royole is investing more than 10 billion yuan ($1.5 billion) in a production base in the southern Chinese city of Shenzhen.  Photo: Visual China
Amid the high expectations for the future of its products, Royole is investing more than 10 billion yuan ($1.5 billion) in a production base in the southern Chinese city of Shenzhen. Photo: Visual China

Sino-American technology firm Royole Corp. said it has received new backing from five of China’s leading banks, as the race heats up to commercialize its specialty flexible displays that could become a staple in mobile devices of the future.

The five new financial backers include three of China’s top four banks: Industrial and Commercial Bank of China (ICBC); Bank of China; and Agricultural Bank of China, Royole said in a statement on Wednesday. Others in the round included two of the nation’s best-known entrepreneurial banks, Citic Bank and Ping An Bank.

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