PDD's Chinese-American Billionaire Investor Duan Yongping Heaps Praise on Temu

South China Morning Post01-07

Chinese-American billionaire and low-key entrepreneur-investor Duan Yongping publicly praised e-commerce giant PDD Holdings' Temu for its marketing success, highlighting the budget-shopping site's ...

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Comments

Toby_Chua
01-07
Toby_Chua
PDD cannot be too successful else sure Kanna US sanction ha ha
菲同凡响
01-07
菲同凡响
PDD boss is Duan's disciple, he invested a lot in PDD 🤣🤣🤣

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The business model is cool, and the quality is improving step by step.\"Do you have questions about the biggest topics and trends from around the world? Get the answers with SCMP Knowledge, our new platform of curated content with explainers, FAQs, analyses and infographics brought to you by our award-winning team.Duan is an early investor in PDD. As of September 30, the US$16.54 billion portfolio of his H&H International Investment firm consisted of PDD, as well as Apple, Alphabet, Alibaba Group Holding and Berkshire Hathaway, among other stocks, according to public filings. Alibaba owns the South China Morning Post.Temu spent tens of millions of dollars on TV commercials during Super Bowl 2023 and 2024. Photo: AP Photo alt=Temu spent tens of millions of dollars on TV commercials during Super Bowl 2023 and 2024. Photo: AP Photo>In an aggressive marketing push, Temu in the past two years spent tens of millions of dollars on commercials during the Super Bowl, the annual championship of the National Football League, that is the most expensive night to air television ads in the US.The campaign significantly boosted Temu's visibility in the US, allowing the discount shopping platform to quickly gain traction among consumers.Duan, founder of smartphone manufacturing giant BBK Electronics, praised fellow Zhejiang University graduate Huang for his vision.\"Back when Huang started Pinduoduo as a platform to help farmers sell agricultural produce, the farmers were happy and users grew rapidly,\" Duan said. \"I agreed to invest in it on the condition that I would match whatever investment Huang made. Huang is not a man driven by profits.\"While he remains a major shareholder of PDD, Huang has kept himself out of the spotlight in recent years. 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My response is that it's exactly because you want to make fast money that you end up not making any,\" he said. \"Look at the long-term picture, hold good companies, and you'll live a much happier life. Just look at Buffett and [his business partner Charlie] Munger - they're good examples.\"Reflecting on his investment philosophy, Duan said an understanding of the core of a business is more important than diligence.\"The key to success is being able to see the essence of things,\" he said. \"Huang is one of those rare individuals who can do that.\"","kind":"highlight","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[{"id":390048104353968,"gmtCreate":1736245002717,"gmtModify":1736245006908,"author":{"id":"3576326749731922","authorId":"3576326749731922","name":"Toby_Chua","avatar":"https://community-static.tradeup.com/news/82ec063fd73ccbceee82eab015cdf3fd","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":7,"crmLevelSwitch":1,"idStr":"3576326749731922","authorIdStr":"3576326749731922"},"htmlText":"PDD cannot be too successful else sure Kanna US sanction ha ha","listText":"PDD cannot be too successful else sure Kanna US sanction ha ha","text":"PDD cannot be too successful else sure Kanna US sanction ha ha","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/390048104353968","repostId":2501140257,"repostType":4,"repost":{"id":"2501140257","kind":"highlight","pubTimestamp":1736231366,"share":"https://ttm.financial/m/news/2501140257?lang=&edition=fundamental","pubTime":"2025-01-07 14:29","market":"us","language":"en","title":"PDD's Chinese-American Billionaire Investor Duan Yongping Heaps Praise on Temu","url":"https://stock-news.laohu8.com/highlight/detail?id=2501140257","media":"South China Morning Post","summary":"Chinese-American billionaire and low-key entrepreneur-investor Duan Yongping publicly praised e-commerce giant PDD Holdings' Temu for its marketing success, highlighting the budget-shopping site's high-profile advertisements during the Super Bowl in 2023 and 2024.\"The Super Bowl is a great platform for advertising, but I never managed to make it there,\" Duan said during a speech at his alma mater Zhejiang University on Sunday. \"Colin Huang Zheng, founder of Temu, did it.\". \"Almost everybody in the US knows about Temu now ... even my housekeeper is using it,\" he added. \"Many people are buying things on the platform. The business model is cool, and the quality is improving step by step.\". Duan introduced Huang to Berkshire's CEO and chairman Warren Buffett after winning a charity lunch auction with the famed US investor in 2006. Duan had paid US$620,100 for the meal and invited Huang, then 26, who was working as a software engineer and product manager at Google.","content":"<html><head></head><body><p>Chinese-American billionaire and low-key entrepreneur-investor Duan Yongping publicly praised e-commerce giant PDD Holdings&#39; Temu for its marketing success, highlighting the budget-shopping site&#39;s high-profile advertisements during the Super Bowl in 2023 and 2024.</p><p>&#34;The Super Bowl is a great platform for advertising, but I never managed to make it there,&#34; Duan said during a speech at his alma mater Zhejiang University on Sunday. &#34;Colin Huang Zheng, founder of Temu, did it.&#34;</p><p>&#34;Almost everybody in the US knows about Temu now ... even my housekeeper is using it,&#34; he added. &#34;Many people are buying things on the platform. The business model is cool, and the quality is improving step by step.&#34;</p><p>Do you have questions about the biggest topics and trends from around the world? Get the answers with SCMP Knowledge, our new platform of curated content with explainers, FAQs, analyses and infographics brought to you by our award-winning team.</p><p>Duan is an early investor in PDD. As of September 30, the US$16.54 billion portfolio of his H&amp;H International Investment firm consisted of PDD, as well as Apple, Alphabet, Alibaba Group Holding and Berkshire Hathaway, among other stocks, according to public filings. Alibaba owns the South China Morning Post.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/8ecb115ff42edb7e5934ec08b279a44c\" tg-width=\"2000\" tg-height=\"1333\"/></p><p><em>Temu spent tens of millions of dollars on TV commercials during Super Bowl 2023 and 2024. Photo: AP Photo alt=Temu spent tens of millions of dollars on TV commercials during Super Bowl 2023 and 2024. Photo: AP Photo&gt;</em></p><p>In an aggressive marketing push, Temu in the past two years spent tens of millions of dollars on commercials during the Super Bowl, the annual championship of the National Football League, that is the most expensive night to air television ads in the US.</p><p>The campaign significantly boosted Temu&#39;s visibility in the US, allowing the discount shopping platform to quickly gain traction among consumers.</p><p>Duan, founder of smartphone manufacturing giant BBK Electronics, praised fellow Zhejiang University graduate Huang for his vision.</p><p>&#34;Back when Huang started Pinduoduo as a platform to help farmers sell agricultural produce, the farmers were happy and users grew rapidly,&#34; Duan said. &#34;I agreed to invest in it on the condition that I would match whatever investment Huang made. Huang is not a man driven by profits.&#34;</p><p>While he remains a major shareholder of PDD, Huang has kept himself out of the spotlight in recent years. He is one of the richest men in China, even though PDD&#39;s shares plunged more than 33 per cent last year. Huang previously referred to Duan as his mentor.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/22a38f7a474c7d301897eecf743b3855\" tg-width=\"1999\" tg-height=\"1333\"/></p><p><em>Colin Huang Zheng, founder of Temu owner PDD Holdings. Photo: CNS/AFP alt=Colin Huang Zheng, founder of Temu owner PDD Holdings. Photo: CNS/AFP&gt;</em></p><p>Duan introduced Huang to Berkshire&#39;s CEO and chairman Warren Buffett after winning a charity lunch auction with the famed US investor in 2006. Duan had paid US$620,100 for the meal and invited Huang, then 26, who was working as a software engineer and product manager at Google.</p><p>&#34;What I like about Huang is that he sees the essence of things, just like I do,&#34; Duan said. &#34;I enjoy talking to him because we&#39;re on the same wavelength. That&#39;s not the case with most people - it&#39;s often hard to communicate with them, and I don&#39;t enjoy dealing with such people.&#34;</p><p>&#34;Some people say, &#39;I want to make fast money because I need it.&#39; My response is that it&#39;s exactly because you want to make fast money that you end up not making any,&#34; he said. &#34;Look at the long-term picture, hold good companies, and you&#39;ll live a much happier life. Just look at Buffett and [his business partner Charlie] Munger - they&#39;re good examples.&#34;</p><p>Reflecting on his investment philosophy, Duan said an understanding of the core of a business is more important than diligence.</p><p>&#34;The key to success is being able to see the essence of things,&#34; he said. &#34;Huang is one of those rare individuals who can do that.&#34;</p></body></html>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>PDD's Chinese-American Billionaire Investor Duan Yongping Heaps Praise on Temu</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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The business model is cool, and the quality is improving step by step.\"Do you have questions about the biggest topics and trends from around the world? Get the answers with SCMP Knowledge, our new platform of curated content with explainers, FAQs, analyses and infographics brought to you by our award-winning team.Duan is an early investor in PDD. As of September 30, the US$16.54 billion portfolio of his H&H International Investment firm consisted of PDD, as well as Apple, Alphabet, Alibaba Group Holding and Berkshire Hathaway, among other stocks, according to public filings. Alibaba owns the South China Morning Post.Temu spent tens of millions of dollars on TV commercials during Super Bowl 2023 and 2024. Photo: AP Photo alt=Temu spent tens of millions of dollars on TV commercials during Super Bowl 2023 and 2024. Photo: AP Photo>In an aggressive marketing push, Temu in the past two years spent tens of millions of dollars on commercials during the Super Bowl, the annual championship of the National Football League, that is the most expensive night to air television ads in the US.The campaign significantly boosted Temu's visibility in the US, allowing the discount shopping platform to quickly gain traction among consumers.Duan, founder of smartphone manufacturing giant BBK Electronics, praised fellow Zhejiang University graduate Huang for his vision.\"Back when Huang started Pinduoduo as a platform to help farmers sell agricultural produce, the farmers were happy and users grew rapidly,\" Duan said. \"I agreed to invest in it on the condition that I would match whatever investment Huang made. Huang is not a man driven by profits.\"While he remains a major shareholder of PDD, Huang has kept himself out of the spotlight in recent years. He is one of the richest men in China, even though PDD's shares plunged more than 33 per cent last year. Huang previously referred to Duan as his mentor.Colin Huang Zheng, founder of Temu owner PDD Holdings. Photo: CNS/AFP alt=Colin Huang Zheng, founder of Temu owner PDD Holdings. Photo: CNS/AFP>Duan introduced Huang to Berkshire's CEO and chairman Warren Buffett after winning a charity lunch auction with the famed US investor in 2006. Duan had paid US$620,100 for the meal and invited Huang, then 26, who was working as a software engineer and product manager at Google.\"What I like about Huang is that he sees the essence of things, just like I do,\" Duan said. \"I enjoy talking to him because we're on the same wavelength. That's not the case with most people - it's often hard to communicate with them, and I don't enjoy dealing with such people.\"\"Some people say, 'I want to make fast money because I need it.' My response is that it's exactly because you want to make fast money that you end up not making any,\" he said. \"Look at the long-term picture, hold good companies, and you'll live a much happier life. Just look at Buffett and [his business partner Charlie] Munger - they're good examples.\"Reflecting on his investment philosophy, Duan said an understanding of the core of a business is more important than diligence.\"The key to success is being able to see the essence of things,\" he said. \"Huang is one of those rare individuals who can do that.\"","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":390008096432352,"gmtCreate":1736235139004,"gmtModify":1736235144164,"author":{"id":"4089256839514050","authorId":"4089256839514050","name":"菲同凡响","avatar":"https://community-static.tradeup.com/news/d8be95e6f3f8c4c6a1c4ec3568d42aa1","vip":1,"crmLevel":9,"crmLevelSwitch":1,"idStr":"4089256839514050","authorIdStr":"4089256839514050"},"htmlText":"&nbsp;PDD boss is Duan's disciple, he invested&nbsp;a lot in PDD 🤣🤣🤣","listText":"&nbsp;PDD boss is Duan's disciple, he invested&nbsp;a lot in PDD 🤣🤣🤣","text":"PDD boss is Duan's disciple, he invested a lot in PDD 🤣🤣🤣","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/390008096432352","repostId":2501140257,"repostType":4,"repost":{"id":"2501140257","kind":"highlight","pubTimestamp":1736231366,"share":"https://ttm.financial/m/news/2501140257?lang=&edition=fundamental","pubTime":"2025-01-07 14:29","market":"us","language":"en","title":"PDD's Chinese-American Billionaire Investor Duan Yongping Heaps Praise on Temu","url":"https://stock-news.laohu8.com/highlight/detail?id=2501140257","media":"South China Morning Post","summary":"Chinese-American billionaire and low-key entrepreneur-investor Duan Yongping publicly praised e-commerce giant PDD Holdings' Temu for its marketing success, highlighting the budget-shopping site's high-profile advertisements during the Super Bowl in 2023 and 2024.\"The Super Bowl is a great platform for advertising, but I never managed to make it there,\" Duan said during a speech at his alma mater Zhejiang University on Sunday. \"Colin Huang Zheng, founder of Temu, did it.\". \"Almost everybody in the US knows about Temu now ... even my housekeeper is using it,\" he added. \"Many people are buying things on the platform. The business model is cool, and the quality is improving step by step.\". Duan introduced Huang to Berkshire's CEO and chairman Warren Buffett after winning a charity lunch auction with the famed US investor in 2006. Duan had paid US$620,100 for the meal and invited Huang, then 26, who was working as a software engineer and product manager at Google.","content":"<html><head></head><body><p>Chinese-American billionaire and low-key entrepreneur-investor Duan Yongping publicly praised e-commerce giant PDD Holdings&#39; Temu for its marketing success, highlighting the budget-shopping site&#39;s high-profile advertisements during the Super Bowl in 2023 and 2024.</p><p>&#34;The Super Bowl is a great platform for advertising, but I never managed to make it there,&#34; Duan said during a speech at his alma mater Zhejiang University on Sunday. &#34;Colin Huang Zheng, founder of Temu, did it.&#34;</p><p>&#34;Almost everybody in the US knows about Temu now ... even my housekeeper is using it,&#34; he added. &#34;Many people are buying things on the platform. The business model is cool, and the quality is improving step by step.&#34;</p><p>Do you have questions about the biggest topics and trends from around the world? Get the answers with SCMP Knowledge, our new platform of curated content with explainers, FAQs, analyses and infographics brought to you by our award-winning team.</p><p>Duan is an early investor in PDD. As of September 30, the US$16.54 billion portfolio of his H&amp;H International Investment firm consisted of PDD, as well as Apple, Alphabet, Alibaba Group Holding and Berkshire Hathaway, among other stocks, according to public filings. Alibaba owns the South China Morning Post.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/8ecb115ff42edb7e5934ec08b279a44c\" tg-width=\"2000\" tg-height=\"1333\"/></p><p><em>Temu spent tens of millions of dollars on TV commercials during Super Bowl 2023 and 2024. Photo: AP Photo alt=Temu spent tens of millions of dollars on TV commercials during Super Bowl 2023 and 2024. Photo: AP Photo&gt;</em></p><p>In an aggressive marketing push, Temu in the past two years spent tens of millions of dollars on commercials during the Super Bowl, the annual championship of the National Football League, that is the most expensive night to air television ads in the US.</p><p>The campaign significantly boosted Temu&#39;s visibility in the US, allowing the discount shopping platform to quickly gain traction among consumers.</p><p>Duan, founder of smartphone manufacturing giant BBK Electronics, praised fellow Zhejiang University graduate Huang for his vision.</p><p>&#34;Back when Huang started Pinduoduo as a platform to help farmers sell agricultural produce, the farmers were happy and users grew rapidly,&#34; Duan said. &#34;I agreed to invest in it on the condition that I would match whatever investment Huang made. Huang is not a man driven by profits.&#34;</p><p>While he remains a major shareholder of PDD, Huang has kept himself out of the spotlight in recent years. He is one of the richest men in China, even though PDD&#39;s shares plunged more than 33 per cent last year. Huang previously referred to Duan as his mentor.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/22a38f7a474c7d301897eecf743b3855\" tg-width=\"1999\" tg-height=\"1333\"/></p><p><em>Colin Huang Zheng, founder of Temu owner PDD Holdings. Photo: CNS/AFP alt=Colin Huang Zheng, founder of Temu owner PDD Holdings. Photo: CNS/AFP&gt;</em></p><p>Duan introduced Huang to Berkshire&#39;s CEO and chairman Warren Buffett after winning a charity lunch auction with the famed US investor in 2006. Duan had paid US$620,100 for the meal and invited Huang, then 26, who was working as a software engineer and product manager at Google.</p><p>&#34;What I like about Huang is that he sees the essence of things, just like I do,&#34; Duan said. &#34;I enjoy talking to him because we&#39;re on the same wavelength. That&#39;s not the case with most people - it&#39;s often hard to communicate with them, and I don&#39;t enjoy dealing with such people.&#34;</p><p>&#34;Some people say, &#39;I want to make fast money because I need it.&#39; My response is that it&#39;s exactly because you want to make fast money that you end up not making any,&#34; he said. &#34;Look at the long-term picture, hold good companies, and you&#39;ll live a much happier life. Just look at Buffett and [his business partner Charlie] Munger - they&#39;re good examples.&#34;</p><p>Reflecting on his investment philosophy, Duan said an understanding of the core of a business is more important than diligence.</p><p>&#34;The key to success is being able to see the essence of things,&#34; he said. &#34;Huang is one of those rare individuals who can do that.&#34;</p></body></html>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>PDD's Chinese-American Billionaire Investor Duan Yongping Heaps Praise on Temu</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPDD's Chinese-American Billionaire Investor Duan Yongping Heaps Praise on Temu\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-01-07 14:29 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/pdds-chinese-american-billionaire-investor-093000482.html><strong>South China Morning Post</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Chinese-American billionaire and low-key entrepreneur-investor Duan Yongping publicly praised e-commerce giant PDD Holdings' Temu for its marketing success, highlighting the budget-shopping site's ...</p>\n\n<a href=\"https://finance.yahoo.com/news/pdds-chinese-american-billionaire-investor-093000482.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://finance.yahoo.com/news/pdds-chinese-american-billionaire-investor-093000482.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2501140257","content_text":"Chinese-American billionaire and low-key entrepreneur-investor Duan Yongping publicly praised e-commerce giant PDD Holdings' Temu for its marketing success, highlighting the budget-shopping site's high-profile advertisements during the Super Bowl in 2023 and 2024.\"The Super Bowl is a great platform for advertising, but I never managed to make it there,\" Duan said during a speech at his alma mater Zhejiang University on Sunday. \"Colin Huang Zheng, founder of Temu, did it.\"\"Almost everybody in the US knows about Temu now ... even my housekeeper is using it,\" he added. \"Many people are buying things on the platform. The business model is cool, and the quality is improving step by step.\"Do you have questions about the biggest topics and trends from around the world? Get the answers with SCMP Knowledge, our new platform of curated content with explainers, FAQs, analyses and infographics brought to you by our award-winning team.Duan is an early investor in PDD. As of September 30, the US$16.54 billion portfolio of his H&H International Investment firm consisted of PDD, as well as Apple, Alphabet, Alibaba Group Holding and Berkshire Hathaway, among other stocks, according to public filings. Alibaba owns the South China Morning Post.Temu spent tens of millions of dollars on TV commercials during Super Bowl 2023 and 2024. Photo: AP Photo alt=Temu spent tens of millions of dollars on TV commercials during Super Bowl 2023 and 2024. Photo: AP Photo>In an aggressive marketing push, Temu in the past two years spent tens of millions of dollars on commercials during the Super Bowl, the annual championship of the National Football League, that is the most expensive night to air television ads in the US.The campaign significantly boosted Temu's visibility in the US, allowing the discount shopping platform to quickly gain traction among consumers.Duan, founder of smartphone manufacturing giant BBK Electronics, praised fellow Zhejiang University graduate Huang for his vision.\"Back when Huang started Pinduoduo as a platform to help farmers sell agricultural produce, the farmers were happy and users grew rapidly,\" Duan said. \"I agreed to invest in it on the condition that I would match whatever investment Huang made. Huang is not a man driven by profits.\"While he remains a major shareholder of PDD, Huang has kept himself out of the spotlight in recent years. He is one of the richest men in China, even though PDD's shares plunged more than 33 per cent last year. Huang previously referred to Duan as his mentor.Colin Huang Zheng, founder of Temu owner PDD Holdings. Photo: CNS/AFP alt=Colin Huang Zheng, founder of Temu owner PDD Holdings. Photo: CNS/AFP>Duan introduced Huang to Berkshire's CEO and chairman Warren Buffett after winning a charity lunch auction with the famed US investor in 2006. Duan had paid US$620,100 for the meal and invited Huang, then 26, who was working as a software engineer and product manager at Google.\"What I like about Huang is that he sees the essence of things, just like I do,\" Duan said. \"I enjoy talking to him because we're on the same wavelength. That's not the case with most people - it's often hard to communicate with them, and I don't enjoy dealing with such people.\"\"Some people say, 'I want to make fast money because I need it.' My response is that it's exactly because you want to make fast money that you end up not making any,\" he said. \"Look at the long-term picture, hold good companies, and you'll live a much happier life. Just look at Buffett and [his business partner Charlie] Munger - they're good examples.\"Reflecting on his investment philosophy, Duan said an understanding of the core of a business is more important than diligence.\"The key to success is being able to see the essence of things,\" he said. \"Huang is one of those rare individuals who can do that.\"","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":10,"commentSize":2,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.30.2","shortVersion":"4.30.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2501140257"}