I searched over internet for how to inserting picture in RichEdit. I only found inserting TImage into Richedit, or other 3rd part components to do
RichEdit
TImage
I used a mix of TJVRichEdit and OLE, assigned Word Document 97-2003 to my OLEContainer, after editing in Word environment save it as RTF:
OLEContainer.OLEObject.SaveAs(Save_Path, $00000006);
and then load it into JVRichEdit, works well!