Du Shanghua is the man who bought Rizhao Steel in 2010. His company, Rizhao Steel Holding Group Co Ltd, paid 1.7 billion yuan ($248 million) for an 80% stake in the steelmaker. This made him one of the richest men in China at the time. Du’s success as a businessman has been due to his keen eye for opportunity and his ability to make smart deals. In this article, we will look at Du Shuanghua and his purchase of Rizhao Steel.
Du Shuanghua was born in 1965 in Rizhao, a city in the eastern Chinese province of Shandong. He started his career as an accountant and quickly rose through the ranks to become the finance director of a steel company. In 2002, he founded his own company, Rizhao Steel Holding Group Co Ltd. This company would become one of the largest steelmakers in China.
In 2010, Du made his biggest deal when he bought Rizhao Steel for 1.7 billion yuan ($248 million). This made him one of the richest men in China. The purchase was a shrewd move by Du, as Rizhao Steel was a relatively small player in the Chinese steel market. However, as China’s economy continued to grow, Rizhao Steel would become a major player in the steel industry.
Today, Rizhao Steel is one of the most profitable companies in China. It reported profits of 2.8 billion yuan ($407 million) in 2017. This has made Du Shuanghua one of the richest men in China. He is now worth an estimated $2.5 billion.
He has built Rizhao Steel into a successful company thanks to his business acumen and his understanding of the Chinese steel market. Du is a self-made man and is a prime example of how to succeed in China’s competitive business environment. View Source: https://www.easyatm.com.tw/wiki/Du+Shuanghua