I think it's possible that it's a Sipix display. I found a Sipix-based reader which was just released in China. It's name is EQ-600.
Here is a picture of it and I think it looks exactly like your reader. I've wrote more on Sipix in
this thread, where you can also find more links on how Sipix looks compared to E-Ink.
Greetz
Scheich Xodox