The legendary story of Duan Yongping from a wage earner to the boss behind OPPO and VIVO.

Duan Yongping was born in an ordinary family in Nanchang, Jiangxi. 1977. After China resumed the college entrance examination, he was successfully admitted to the Radio Engineering Department of Zhejiang University with excellent results. Became the first batch of college students after the cultural reform. 1982, assigned to Beijing Electron Tube Factory after graduation from university. After that, I studied econometrics in the Economics Department of Renmin University of China, but I didn't finish my master's thesis and master's degree.

1March, 989, I came to a small factory under Yihua Group in Zhongshan City, Guangdong Province with a loss of 2 million yuan as the director. Since Duan Yongping took over, I personally managed R&D and marketing lines. Soon, the game machine came into Duan Yongping's sight. Also,1June 1983, the "home computer" red and white machine developed by Nintendo was born. Since then, with the popularity of Contra and Super Mario all over the world, the sales volume of "Red and White Machine" has exceeded 60 million. Because imported machines are too expensive for ordinary people to consume, Duan Yongping, with its own specialty, quickly developed a version of the red and white machine belonging to China, the price is less than a quarter of others, but the product performance is the same.

199 1 year, under the leadership of Duan Yongping, this small factory was renamed Xiaobawang Electronic Industry Company, specializing in the development, research, production and sales of educational electronic products. In June of the same year, Little Overlord spent a huge sum of 400,000 yuan to broadcast the first advertisement on CCTV-"Little Overlord Competition", which was a prize-winning sales activity of "owning a little overlord and achieving ten thousand households". Through excellent marketing methods, bully quickly occupied the first place in the domestic game machine market.

From then on, Duan Yongping knew his parents' consumption psychology. "It's not far to play games alone." So, 1993, he innovatively joined the keyboard and became a well-known bully learning machine and repeater.

In order to gain popularity, Duan Yongping has made great efforts in advertising marketing. With Jackie Chan's saying, "It's the same as inheriting the wind and expecting to be a bully", bully learning machines and repeater machines have spread all over the country and become the standard of many urban families.

It can be said that the bully was built by Duan Yongping. In the five years since he joined, this small bully company, which lost 2 million electronics factories to an annual output value of 1992, was once again brilliant in 1995 and quickly climbed to an output value of 100 billion. So Duan Yongping also has the title of "working emperor"!

1994, Duan Yongping proposed to the group company to carry out the shareholding system reform of Xiaobawang to reward employees with outstanding performance. He believes that there must be a more advanced incentive mechanism, otherwise it will lose the momentum of development. However, this proposal was eventually rejected by the senior management of Yihua Group.

1995, Duan Yongping left with six backbones in a fit of pique and founded BBK in Dongguan, which is separated from Zhongshan by a river. Because there was a verbal agreement when he left the bully, Duan Yongping could not compete with the bully in the same industry for one year, so the newly established BBK did not enter the game market, but turned to VCD, student computers and cordless phones. BBK cordless telephone has occupied the first share of the national cordless telephone market in just two years.

Soon, after losing Duan Yongping, the bully quickly fell into a trough, and the products were not competitive, and many dealers kept leaving. Two years later, the bully game machine successfully became our memory.

At the end of 1996, Duan Yongping won the bid for 1997 prime-time advertisement held by CCTV, and the price was 80 123456 yuan, which highlighted the brand value of BBK.

Duan Yongping is convinced that in order to give employees the greatest motivation, they should be given shares, and employees with shares can regard the company as a common cause. After that, Duan Yongping continuously diluted his shares, from more than 70% to less than 20%. BBK has also been subdivided by Duan Yongping into several independent business divisions, all of which are handed over to their right-hand men. Shen Yi took over the communication and mobile phone business, and Jin Zhijiang was appointed as the CEO of BBK. Huang Yihe took over BBK education, and Chen Mingyong took over audiovisual and OPPO.

In 200 1 year, Duan Yongping invested 30 million yuan to establish a high-end electronic brand OPPO, with Chen Mingyong as CEO. At the age of 40, Duan Yongping decided to retire from the background. In order to keep his wife's promise, he got a green card and went to America to accompany her. In order to motivate employees, Chen Mingyong followed Duan Yongping's example and continuously diluted its shares. At present, its share is only close to that of Duan Yongping, and the rest are held by employees of the company. By the end of 20 19, OPPO has become the top five mobile phone brands in the world.

Although OPPO and VIVO are not the same company, they can be said to be brothers. They are very similar in design, marketing and pricing, and their sales volume is also very close and basically the same.

Duan Yongping in the United States has not been idle. For a stranger in America, he couldn't attack the industry, so he thought of investing. Because I don't understand, I work hard. In the following year, he read more than 65,438+000 books about investment, until he saw Buffett's two sentences, "Buying a company's stock is equivalent to buying this company, buying part or all of it" and "investing in something you can understand."

In 2000, the American Internet bubble burst and Netease suffered a recession. Its share price dropped from 15.5 at the time of listing to a minimum of $0.48, and its market value dropped from $470 million to less than $20 million, immediately facing the threat of delisting. At this time, Ding Lei found Duan Yongping and asked Duan Yongping how to promote the online game A Chinese Odyssey 2. In their conversation, he learned that the game market is very large and Netease's share price is seriously underestimated. "So in 2002, Duan Yongping ate a lot of Netease shares and bought 2.05 million shares for less than 1 USD, accounting for 6.8% of Netease's shares. In just two years, Netease came back to life with its game business, and its share price soared to $70, making Ding Lei the richest man in China. Duan Yongping also sold it for $70, earning a return of nearly 654.38 billion, so it is also called "Buffett of China".

In 2006, Duan Yongping photographed the opportunity to have lunch with Buffett for $620,000. At that time, he also brought a 26-year-old young man, Huang Zheng. They were introduced by Netease Ding Lei. They happen to be alumni of Zhejiang University, both of whom are from high flyers, so they get along very well.

Huang Zheng accepted Duan Yongping's advice, worked at Google for at least three years, and then invested in Google. Three years later, when Huang Zheng left Google, he was already worth millions. After leaving Google and returning to China, Huang Zheng's first job was to join BBK to take charge of e-commerce and set up Ouku, but the results were not as satisfactory as expected.

Duan Yongping still believes in Huang Zheng's ability. In 20 15, Huang Zheng saw the lower-end e-commerce market, and Duan Yongping did not hesitate to provide him with the first angel investment. At that time, many people questioned the quality and prospects of Pinduoduo, but Duan Yongping said that if Huang Zheng was given ten years, he would let everyone see that he was different.

2065438+In August 2009, Pinduoduo, who was only four years old, surpassed Baidu in market value and became the fifth largest Internet company in China. We can't help but say that Duan Yongping has a good eye.

Duan Yongping is not only a legend of entrepreneurs in China, but also a legend of charity. In 2005, Duan Yongping established a family charity fund in the United States, which was mainly responsible for charitable donations in the field of education. Three years later, he registered Xinping Public Welfare Fund in China, which was also used for education. Moreover, he also donated 447 million yuan to his alma mater, Zhejiang University and the National People's Congress.

One of the business secrets he often talks about is: duty plus normality, and both starting a business and investing should be treated with normality. Personally, I think he is not only normal, but also very caring and attaches great importance to education. His story is a legend in our hometown and an idol worth learning from.