The Turning Point of 2001: How Duan Yongping Transformed from an Entrepreneur to an Investment Master

“I looked in the mirror”—on the fifth day of the Lunar New Year, a seemingly ordinary remark by Duan Yongping sparked widespread market speculation. Known as the “Warren Buffett of China,” this invisible billionaire is demonstrating investor confidence in his own unique way. But what truly shaped Duan Yongping’s life trajectory was a seemingly ordinary turning point in 2001.

From Entrepreneur to Investment Master: The Turning Point of 2001

In 2001, at age 40, Duan Yongping made a life-changing decision—to step back from his business ventures. By then, he had accumulated considerable wealth through the success of BBK Electronics and BBK Education, and had cultivated a team of industry talents: OPPO’s Chen Mingyong, VIVO’s Shen Wei, and BBK Education’s Jin Zhijiang were all former team members.

But Duan’s ambitions went beyond that. After leaving BBK, he ventured into investing, a choice that ultimately crafted his legendary status. This move in 2001 marked his dramatic transformation from a manufacturing industry elite to a value investor.

Early Investment Legend: 100x Returns on NetEase

Soon after entering the investment world in 2001, Duan Yongping made a pivotal investment—NetEase. The returns were astonishing: 100 times. This not only confirmed his keen insight into company value but also established his position in China’s investment scene.

He continued to demonstrate his value investing philosophy through action. In 2006, he paid a record $620,000 for a lunch with Warren Buffett, becoming the first Chinese to dine with the Oracle of Omaha, bringing along budding entrepreneur Huang Zheng. This move signified his entry into the ranks of top global investors.

Apple, Moutai, Tencent: Portfolio Iterations

In 2011, Duan made another critical decision—buying Apple when its market cap was only $300 billion. Today, Apple’s market cap has exceeded $4 trillion, illustrating the massive growth of that investment. Although he has been gradually reducing his Apple holdings (selling over 7% of his position, totaling 2.47 million shares), Apple remains his top holding.

Meanwhile, his investments in Moutai and Tencent also reflect his sharp value investing instincts. In 2025, he precisely bought Moutai at a low point, which then surged nearly limit-up in a single day. As for Tencent, although his initial entry around HKD 300 in 2022 caused controversy—when Tencent’s stock fell to HKD 180, causing some followers to suffer losses—today Tencent’s stock is at HKD 657, with early investors already seeing doubled returns. This underscores the power of long-term value investing: the key is to “stick it out.”

New Layout in 2025: Nvidia and the AI Industry Chain

If the past two decades represent the first half of Duan Yongping’s investment career, his actions in Q4 2025 signal a new theme—artificial intelligence.

Amid Nvidia’s recent volatility, Duan made a rare large-scale increase in his holdings. Data shows he added 6.6393 million shares in Q4, increasing his position by 1110.62%, reaching a total of 7.2371 million shares, with a market value soaring to $1.35 billion. Nvidia has now become his third-largest holding, accounting for 7.72% of his portfolio.

This move warrants deep reflection. Despite Nvidia’s recent flat performance and high volatility, Duan dares to buy more against the trend. This demonstrates his confidence in the long-term prospects of AI.

A Three-Dimensional Layout of the AI Industry Chain

More noteworthy is that Duan not only increased his Nvidia holdings but also invested in CoreWeave, Credo, and Tempus. Although this portfolio appears diversified, it actually follows a clear strategic logic—covering three key nodes of the AI industry chain:

• Computing Power (CoreWeave): Infrastructure for AI-era calculations
• Connectivity (Credo): Critical for data transmission
• Application (Tempus): Real-world implementation of AI technology

This systematic approach echoes his successful investment logic in NetEase, Apple, and others—seizing ecological positions during industry transformations.

Adherence to Investment Philosophy

From his “retirement after success” in 2001 to his current self-reflection, Duan Yongping has spent a quarter-century exemplifying what it means to be a professional investor. His story teaches us that true wealth isn’t about quick gains from a single investment but about long-term adherence to the right methodology—identifying excellent companies, valuing them reasonably, patiently waiting, and holding long-term.

Investors who followed him into Tencent may have experienced short-term losses in 2022, but now they are reaping substantial rewards. This reversal fundamentally tests investors’ psychological resilience and confidence in their own strategies. Duan Yongping is celebrated as China’s pioneer of value investing because he does what most people cannot—buying confidently during market pessimism and deploying early in areas others don’t understand.

The decision in 2001 changed his life’s course, and today he continues to write his investment legend using the same methodology.