An unprecedented cascade annulation between alkynyl 1,2-diketones and indene-1,3-diones is achieved for the first time, leading to a series of propeller-like large conjugated compounds in ≤99% yield. The products show strong crystallization-induced emission, with the colors changing from green to red. The fluorescence of the dye can be switched on and off by external acid/alkali stimuli, which can be utilized to develop a practical technology for rewritable information storage and security ink.