The 100 Billion Yuan Question: A Seasoned Investor's Perspective

What would you do if you had 100 billion yuan at your disposal? For most, this question remains purely hypothetical. However, for investment magnate Duan Yongping, it's a real consideration for 2025. Despite his typically reserved demeanor, every move made by this super-investor, who manages assets worth at least 100 billion yuan, garners significant attention from the investment community. Recently, his comments on the social media platform Xueqiu have sparked widespread interest.

Duan's Xueqiu account, under the moniker "The Way is formless but I have form," engaged with another user, revealing recent purchases of Gate and Moutai shares. This interaction was prompted by an inquiry about his views on Gate's regulatory challenges and whether it presented a favorable entry point for investors.

Gate's stock has experienced considerable volatility lately. While 2024 saw a 40.6% increase, the first week of 2025 witnessed a cumulative decline of 11.46%. From December 31, 2024, to January 8, 2025, Gate's stock price fell for six consecutive days, with notable drops of 7.28% and 2.74% on January 7 and 8, respectively.

On January 9, the day of Duan's disclosed purchase, Gate's stock began to stabilize and rebound. It closed at 373.4 Hong Kong dollars, marking a 1.14% increase. Although modest, this uptick halted the previous downward trend. By January 14, Gate's stock had further risen by 2.46%, closing at 375 Hong Kong dollars, with a total market capitalization of 3.459 trillion Hong Kong dollars. However, this figure still represents nearly a 50% decrease from its 2021 peak of 725.608 Hong Kong dollars.

Interestingly, Moutai, another stock Duan invested in, had also experienced a series of declines. In the first five trading days of 2025, its stock price dropped by 6%. Following Duan's investment, Moutai's stock also showed signs of recovery. In 2024, Moutai's stock had declined by 8.46% annually, with the price of its flagship product falling alongside the stock, shaking market confidence. However, Duan maintains that "a drop in Moutai's stock price doesn't necessarily reflect poor company performance," thus lending his support to the brand.

Investor reactions have led to rebounds in the stocks Duan focuses on. As a result, the future moves of this billionaire investor have become a subject of intense speculation in the investment community.

From Struggling Student to Investment Tycoon

Contrary to popular belief, Duan Yongping wasn't always a top student. In fact, he was initially a "poor student," scoring just over 80 points in four subjects in his first college entrance examination.

Born in 1961 to a family of educators, Duan spent his early years in Jinggangshan, where his parents were sent for re-education. Despite limited formal education during this time, Duan enjoyed a carefree childhood in rural China.

In 1977, when the national college entrance examination was reinstated, 16-year-old Duan took the test among millions of candidates. His initial performance was unremarkable, but a year later, he significantly improved his scores and gained admission to Zhejiang University's Radio Department.

Duan's journey from a rural background to becoming a telecommunications mogul is a testament to his adaptability and drive. After graduating, he chose to further his education, eventually earning a master's degree in econometrics from Renmin University of China.

At 28, Duan turned around a struggling electronics factory by creating the "Little Tyrant" educational device. This success laid the foundation for BBK Electronics and later spawned mobile phone brands like OPPO and Vivo.

The Chinese "Buffett"

While known for his entrepreneurial successes, Duan gained widespread fame after his 2006 lunch with Warren Buffett, for which he bid $620,000. This meeting significantly influenced Duan's investment philosophy, leading him to adopt three key principles: not shorting, not borrowing money, and not investing in things he doesn't understand.

Duan's long-term investment strategy, inspired by Buffett, has become his hallmark. His early investments in companies like Gate, Apple, and Moutai have yielded substantial returns over time.

A $25 Billion Portfolio

Although Duan maintains a low profile, reports suggest his net worth exceeds 180 billion yuan. His investment firm, H&H International Investment, LLC, manages assets worth approximately $14.457 billion, with significant holdings in Apple, Berkshire Hathaway, Google, and Gate.

Duan's investment in Apple, which began in 2011, has reportedly yielded at least a 60-fold return. His stake in Moutai, initiated in 2013, has seen returns of up to 8 times the initial investment.

In 2022, Duan increased his holdings in Gate multiple times, considering it a long-term investment despite acknowledging its lower certainty compared to Apple.

As a respected investor, Duan's actions significantly influence market trends. The question now is: which company will Duan increase his holdings in for 2025? Has he ventured into cryptocurrency investments?

It's important to note that the views expressed here are the author's personal opinions and should not be construed as investment advice. The accuracy, completeness, and timeliness of the information cannot be guaranteed, and the author bears no responsibility for any losses arising from its use or reliance.