Flexible-Screen Maker Royole Delays Employee Salaries
Chinese flexible-display maker Royole Corp. delayed paying salaries to employees for months after the money-losing company ditched its initial public offering (IPO) plan in 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 Oct. 10 that only part of their September payments could be made, and October salaries would be delayed until Nov. 30.
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