文 | 新财域

zaihuaweisanzhedieshuapingwangluo，baohuoquanguozhishi，cengjingdezhediepingwangzheshenzhenrouyuxianshijishuyouxiangongsi（jianchengrouyukeji）quezaifayuandegonggaoxiajieshuleziji“yaoyaolingxian”degushi。

dianfengkaijuhuanderujinluomoxiachang，zhinengshuo，dongjishudebuyidingdongshichang，qiyehaishiyaozuozijishanzhangdeshi，motanda，moqiuquan。

01 “折叠屏”先驱者破产清算

cengjingdemingxing“dujiaoshou” qiyerouyukejidegushi，beishenzhenzhongyuanyizhigonggaohuashanglejuhao。

11yue19ri，shenzhenshizhongjirenminfayuanfabugonggao，yijuguanlirenduirouyuxianshixianyouzichanjifuzhaidediaochajieguo，keyirendingrouyuxianshibunengqingchangdaoqizhaiwu，qiezichanbuzuyiqingchangquanbuzhaiwu。yizhao《zhonghuarenmingongheguoqiyepochanfa》diertiaodiyikuan、diyibailingqitiaozhiguiding，shenzhenshizhongjirenminfayuanyu2024nian11yue18ricaidingxuangaoshenzhenrouyuxianshijishuyouxiangongsipochan。

gaigonggaoshigaifayuan5yue15ricaidingshoulirouyukejipochanqingsuanyiandejieju。tongri，shenzhenzhongjirenminfayuanhaipilulerouyukejideliangjiaquanzizigongsi——shenzhenrouyudianzijishuyouxiangongsiheshenzhenrouyuxianshijishuyouxiangongsidepochancaidinggonggao。

erzheiyixiliegonggaodefabu，yeyiweizherouyukejizheigecengjingzaiguoneirouxingxianshilingyudechonger，chedizouxianglepochan。

shuoqirouyukeji，henduorenkenengbingbushuxi，danshishuoqilaizhediepingshouji，neijiuraobuguozheijiagongsicengjingdehuihuang。

2012nian，sitanfudianzigongchengxiboshibiyedeliuzihongyuliangweiqinghuadaxuejiansitanfuxiaoyouweipeng、fanjunchao，zaishenzhengongtongchuanglilerouyukeji。

zuoweihexinchuangshiren，liuzihongzidaixuebaguanghuan：17suiyifuzhougaokaozhuangyuanchengjijinruqinghuadaxuedianzigongchengxi，shuoshibiyehoufumeishenzao，jin26suijiuhuodeboshixuewei，jushuoshigaixiaolishishangnadaoboshixueweiyongshizuiduandehuaren。

zheiyangde“xuebajiyin”，yeluokezailerouyukejishenshang。

02 出道即巅峰

2014nian，zheigejinchengliliangniandegongsi，guanxuanchuangzaoledaposhijiejiludexinxingchaobocaiserouxingpingmu。houdu0.01haomi，juanqubanjing1haomideshuju，bishibeirenchengwei“heikeji”，yequelilerouyukejizairouxingxianshilingyudezhongdatupo。

2015nian，rouyukejizaicifangchudazhao：xuanbutouzibaiyiyuan，zaishenzhenjianshequanqiushoutiaoquanrouxingpingshengchanxian，jihuayizizhuyanfadejishu，tiaozhansanxing、lgdenggongsishichangdiwei。2018nian，rouyukejixuanbuliangchanquanrouxingping，bingyouliuzihongqinzifabuledazaizichanrouxingpingdezhediepingshoujiroupai1dai，chengweiguoneishoukuanzhediepingshouji。

xiangxinhenduoren，jiushizaizheigeshihoudiyicilejiedaozhediepingshouji。yaozhidao，sanxingdegalaxyfold，yeshizairoupai1fabu4geyuehoucaizhengshituichu。congzheigejiaodulaikan，roupaibujinshiguoneishoukuan，shenzhiyeshishoujixingyeneizhediepingdexianquzhe。

zheiyangdechengji，ziranxiyindaolezibendeguanzhu。idgziben、shenchuangtou、songhezibendengzhimingjigoufenfenweirouyukejidataoyaobao。

jurouyukejizijipilu，cong2012nian5yuechuanglidao2021nian9yuejinshinianshijian，rouyukejigongjinxingle8lunrongzi，huodeguquantouzichaoguo60yiyuan。2020nian，rouyukejichongcichuangyeban，bishirouyukejiguzhiyidao577yiyuan，liuzihongdangnianyeyi145yiyuandeshenjia，rongdeng《hurunbaifubang》di376wei。

03 跌下神坛

buguorouyudegaoguangshike，yejiudaociweizhi。

zaiyejiezanyu，zibenxiaidebeijingxia，rouyukejiquezoushangleyitiaoxiaxingzhilu。

2019nianqi，rouyukejizijinlianchuxianwenti，duojiagongyingshangduiqitiqisusong。lingjurouyukejizhaogushuomingshupilu，zai2017dao2019nianjian，gaigongsileijijingkuisundadaole31.95yiyuan。

suizhezibendetouru，rouyukejidezijinwentibujinmeiyoudedaohuanjie，faneryuelaiyueyanzhong。

2021nian，wangshangkaishichuxianrouyukejiyuangong“taoxin”huati。bufenzichengneibuyuangongdewangyoubiaoshi，qianxinshijianyichaoguo1nian。daole2024nian3yue，bufenrouyulizhiyuangongxiangshenzhenshizhongjirenminfayuanshenqingpochanshenchashi，jiutichuyaoduituoqiangongzijiqiquanwentijinxingqingsuan，shejijinezongjichaoguo1yiyuan。

suiranrouyuduiyuzijidezijinwentiyizhichifoudingtaidu，danshicongzhaogushuomingshuzhongyenengkanchuyixieduanni。zaizhaogushuomingshuzhong，rouyukejinimuzi144.34yiyuanyongyurouxingqianzhanjishuyanfaxiangmuhebuchongliudongzijindeng，qizhongjinbuchongliudongzijinxuqiufangmian，jiudadao72yiyuan，kejianyalizhida。

ranershangshidejihuazuizhongyinweiweitongguoshenheergeqian，cihourouyukejihaikaolvfumeishangshi，jieguoyijiubulixiang。youyuquefa“zaoxue”nengli，rouyukejidepingmu，yekaishimanmansuilie。

04 柔宇科技到底哪里走错了？

kandaozheili，dajiayidinghaoqi：yigexingyedexianquzhe，zhangwohexinjishudejishuxingqiye，zibendechonger，zenmehuizoudaorujinzheigedibu？

shuoqilaidehua，genshikongrenliuzihong，youzhehendadeguanxi。

keyishuo，liuzihongshiyigedongjishu、dongshichangxuqiuyedongyingyongderen，danshiweidumeiyoudongshenmejiaozuoshangyehua。taoyongmouxierendeshuofa：qiyejishuqiangshiyihuishi，nengbachanpinmaichuqu，zeshilingwaiyihuishi。

jishuchushendeliuzihong，xianranxianrulejishuluxiandezhizhezhizhong。shishishang，rouxingpingdeyanfafenweiliangtiaolu：yizhongshigudingqumianping，yizhongshiquanrouxingpingmu。qianzhefazhanyijingduonian，sanxingdengzhuyaopingmushengchanqiyedouzaiguangfanshiyong，shuyujingguokaoyandewendingjishu，yehuodeshichangrenke。

errouyukejizezoudeshijishugengxindechaodiwenfeiguizhichengjichengjishurouxingxianshiping，zheizhongjishuhaoguihao，danshilianglvbugao。anzhaorouyukejigongkaidelianglv，quanrouxingpingtoupianshengchanxiandetoupianlianglvda81.6%，zaiyeneibingbusuangao。lianglvdiyiweizheshengchanchengbenshangsheng，yiweizheshangyeyingyongjiazhibuda，yiweizhemeiyouxiaoshou，yeyiweizhemeiyouhuixuenengli。

shujuxianshi，2019nian，rouyukejidequanrouxingpingmudechuhuoliang，jin5.2wanpian，weirouyukejichannengdeliufenzhiyi。bishijihumeiyoudachangpiliangcaigourouyudepingmu，quanrouxingpingmudexiaoliangshizhongdimi。

shichangderenkebijingxuyaoshijian，lianglvhechanliangyeyouxinxinjiejue。danshiduiyurouyukejizheiyangdedujiaoshouqiye，zaichubuwentihaimeijiejuedeshihou，jiukuaisushangmaletouzie100yideshengchanxianxianranyouxiecaozhiguoji。yaozhidaorouyukejishijinianlairongzihaimeironglaizheimeduo，baqiandouzazaishengchanxiandejiansheshang，nahaiyoujingliheshijianquzuojishudiedaijichanpinyouhuani？

huoxuzailiuzihongkanlai，yongyingjishuzhichengqiyehexinjingzhengli，zaiyongdatouzishengchanxianquyadichengbenhuodejingzhengnengli，zheishihenduokejigongsiguanyongdeluxian。duiyurouyukejilaishuo，youzibendezhuli，zheiyangzuobingbushiwenti。jiranshoujidachangbucaigouwodeping，neiwojiuzijishengchanshouji，wanchengbihuanxingchengzaoxuenengli。

ranerkenengzhengshizheiyibu，chedirangrouyukejishiqulejingzhengdenengli。

2018nian，roupai1shangshi，chulezhediepingwai，jingyanzhongrendehaiyoujiage：8999dao12999yuan。

zheigejiagejiusuanfangdaoxianzai，yeshigaoduanqijiandejiezou，benshenshouzhongquntijiuxiao，genghekuangshizhedieping，rujinyefeishoujizhuliu。tongshirouyukejizijindoufangshengchanxianshangle，meiyouqianzuoxianxiapushe，meiyouqianzuoxianshangtuiguang，bei“youshang”dexianshangxianxialiandongsuomaimei，zhishifenfenzhongdeshiqing。

zuiguanjiandeshi，shoujizaojinrushengtaijingzheng。zhikaoyigepingmujiuxiangchubaokuan，jihushibukenengwanchengderenwu。yingjiandepeihe、shengtaidepeiheyigaimeiyou，ruhequgenqitapinpaizuojingzheng？chuhuoliangshangbuqu，chengbenxiabulai，channengqibulai，zijindenitanzhihuiyuelaiyueshen。

conghouxufazhanlaikan，rouyukejibenshenyexiangzijiu。jumeitibaodao，zi2021niandirouyukejixianruweijihou，liuzihongyizhimeiyoumingquedejiejuefangan，jinguanbufentouzirenheguanlizhuanjiacengjianyiqituichuguanliceng，zhuanzhuyujishuyanfa，danliuzihongshizhongweizuotuoxie。

cengdanrenrouyukejidulidongshideliushuweiyecengbiaoshi，shenzhenshiguoziweicengyinruyijiachanyeziben，gaishangshigongsiyaoqiuliuzihongbixulikaiguanliceng。

danshi，liuzihongyebingweitongyizheiyiyaoqiu，zhidaorujinpochandejumian。

kandaorouyukejideliuzihong，rangrenbuyouxiangqileleshidejiayueting。

tongyangdechudaojiushidianfeng，tongyangxiangzhudajishukaijiang，tongyangyinxiaokanlekejichuangxinerbai。

youyisideshi，rujinliuzihongyeyizaimeiguo，genjialaobanyiyang。

yexutayeqiwangnengyougesunhongbinbandeyingxiong，laijiuzhuyixiazijixixinpeiyangdedujiaoshou。

buguoyiqiedouyijingwanle。