Duan Yongping
Duan Yongping (Chinese: 段永平; pinyin: Duàn Yǒngpíng; born 1961) is a Chinese electrical engineer, inventor, entrepreneur, and philanthropist. He is regarded as an innovative and inspiring business figure in mainland China.[1] He is the founder of both the Subor Electronics Industry Corporation (also the former CEO) and BBK Electronics Group (also the current Chairman).
Biography
Born on 10 March 1961 in Nanchang, Jiangxi Province, Duan entered Zhejiang University in 1978, majoring in wireless electronics engineering. After graduation, he became a teacher at the adult education center of the Beijing Radio Tube Factory. Later, he studied at Renmin University, where he majored in econometrics. He also studied in CEIBS as an EMBA student for two years.
In 1989, he joined a company in Zhongshan and became the CEO later. Within less than 6 years, he set the business empire and created a very famous brand in Chinese community: Subor (Xiao Ba Wang; Chinese: 小霸王). In 1995, he left Xiao Ba Wang and founded BBK (Bu Bu Gao; Chinese: 步步高).[2]
Duan was one of the founders and former CEO (1989-1995 in office) of Subor Electronics Industry Corporation. At the beginning, the company only had 20 workers including himself. They only had 3000 RMB cash but owed 2 million RMB debts. But after Duan's struggle, it quickly became top producer of the "learning computer" (Chinese:学习机). It also produced video-game facilities, which made a profit of more than 200 million RMB during 1994-1995.[2]
On 28 August 1995, Duan resigned from Subor, and founded BBK Electronics Industrial Group in Dongguan, Guangdong Province, whose main product was DVD players. It is a well-known brand in cell phone, telephone and stereo devices.[2]
From 2002 to 2004, he was the second largest individual shareholder (with more than 10% at peak) of NetEase after William Ding Lei.
Ranks
- No. 1443, Hurun Report Global Rich List 2014
- No.233, Hurun Report China Rich List 2013[3]
- No.8, Hurun Report 2007 China Philanthropy List
- No.328, Hunrun Report 2007 China Rich List[4]
- No.152, Hunrun Report 2006 China Rich List[4]
Trivia
- Together with William Ding Lei, Duan donated US dollar 40 million to Zhejiang University in September 2006. This is the biggest endowment in recent years for higher education in mainland China.[5]
- Duan spent US$ 620,100 to have lunch with Warren Buffett in 2007 (won the "Power Lunch with Warren Buffett").[6]
- Due to his success in the stock market, he has the nickname "Chinese Buffett".[7]