Duan Yongping


Duan Yongping is a Chinese-American billionaire entrepreneur and electrical engineer. He was the director of the Subor Electronics Industry Corporation and founded BBK Electronics Group. Duan's net worth was estimated at $1.5 billion, according to the 2018 Hurun China Rich List.

Early life and education

Born on 10 March 1961 in Nanchang, Jiangxi, China, 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.

Career

Subor era

In 1989, he was appointed director of Nihwa Electronics Factory in Zhongshan by the parent Yihua Group. Over six years, he transformed the business's fortunes. 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". Branded as Subor it was very successful at producing famiclones for the Chinese and other markets. It also produced video-game facilities, which made a profit of more than 200 million RMB during 1994–1995.

Founding of BBK

On 28 August 1995, Duan resigned from Subor, and founded BBK Electronics Industrial Group in Dongguan, Guangdong Province. Its main product was DVD players. It is a well-known brand in cell phone, telephone and stereo devices.
From 2002 to 2004, he was the second largest individual shareholder of NetEase after William Ding Lei.

Personal life and philanthropy

Together with William Ding Lei, Duan donated to Zhejiang University in September 2006. This is the biggest endowment in recent years for higher education in mainland China.
In 2007, Duan spent US$620,100 to have lunch with Warren Buffett, the money was donated to the Glide Foundation. Due to his success in the stock market, and philanthropic activities, he has been called the "Chinese Buffett".
Duan founded the Enlight Foundation in 2004. It is run by his spouse Xin Liu, who is also the director and co-founder of Xinhe Foundation in China.