Duan Yongping's New Round of Increased Investment After Retirement: NVIDIA and the AI Industry Chain Become the New Favorites

Duan Yongping has made his move again. This legendary investor, dubbed the “Warren Buffett of China,” made a bold adjustment to his holdings in Q4 2025—massively increasing his stake in NVIDIA by 6.6393 million shares, a surge of 1,110.62%. His total holdings reached 7.2371 million shares, with a market value soaring to $1.35 billion, making it the third-largest position in his portfolio. At the same time, he reduced his Apple holdings by over 7%. This move once again confirms one point: true value investors are always preparing for the next era.

From Little Tyrant to BBK: Investing Transitions After Achievements

Duan Yongping’s legend began with entrepreneurship. Born in Nanchang, Jiangxi, in 1961, and later studying at Zhejiang University and Renmin University, he started working at Nichiwa Electronics in 1989. It was during this period that he helped establish the gaming brand Little Tyrant, a name loaded with childhood memories for those born in the 80s and 90s.

In 1995, Duan left Little Tyrant and founded BBK. This decision changed the landscape of China’s tech industry—later industry leaders like Oppo’s Chen Mingyong, Vivo’s Shen Wei, and BBK Education’s Jin Zhijiang all once worked with him. Until 2001, at age 40, Duan Yongping made the most critical choice of his life—retiring from active business.

After stepping back, he didn’t leave the business world but instead embarked on another legendary chapter. Duan transitioned into investing, applying a capital perspective to the entire market. This step, seemingly simple, embodied a profound shift from entrepreneur to investor.

Three Precise Positionings: The Investment Clocks of NetEase, Apple, and Moutai

In the world of investing, success often hinges on high-probability events. Duan Yongping exemplifies what “precision” means through his actions.

The most famous case is NetEase. Duan invested in NetEase and ultimately achieved a 100-fold return, creating the myth of “Duan Buffett.” It wasn’t luck but a deep insight into the company’s value.

In 2006, Duan paid $620,000 for a lunch with Warren Buffett, becoming the first Chinese to do so. Notably, he brought along Pinduoduo founder Huang Zheng, demonstrating his sharp eye for people and companies.

That same year, Duan began positioning in Apple. At the time, Apple’s market cap was only $300 billion, now it has exceeded $4 trillion. Although he has been reducing his holdings in recent quarters, this doesn’t diminish its status as a classic investment case.

In recent years, Duan’s focus shifted to Moutai. In 2024, he precisely bottom-fished Moutai, causing its stock to nearly hit the daily limit. Every choice reflects his understanding of industry cycles.

Tencent Lessons and Gains: A Three-Year Test of Value Investing

If there’s a case that fully demonstrates the concept of “value investing,” Tencent is one.

In 2022, Duan repeatedly bought Tencent at lows, but it was a test—Tencent’s stock fell from around HKD 300 to HKD 180 by October. Many investors following the trend couldn’t withstand the decline and sold at a loss. Duan was highly sensitive to this. In February 2026, he openly responded to a netizen’s comment: “Most people buying Tencent don’t really have investing ability,” to which Duan bluntly replied, “Shut up! You act like you’re richer than me.”

Though blunt, this reveals the core of value investing—what’s tested isn’t just vision but also psychology and patience. Now Tencent’s stock has risen to HKD 657, and investors who bought at HKD 300 have doubled their money. This three-year wait proves the power of long-term holding.

NVIDIA at High Levels and AI Industry Chain Layout: A New Investment Cycle

The latest adjustments show Duan Yongping is preparing for a new era.

In Q4 2025, he aggressively increased his NVIDIA holdings at high levels—seemingly “chasing the peak,” but actually reflecting his judgment of the AI industry cycle. Notably, NVIDIA’s stock has hardly moved in the quarter, oscillating at high levels, yet Duan’s buying continued. This indicates not short-term speculation but confidence in long-term trends.

More interestingly, he built positions in three companies—CoreWeave, Credo, and Tempus—covering key nodes of the AI industry chain: computing infrastructure, chip connectivity, and application layers. The new positions are 299,900 shares, 141,300 shares, and 110,000 shares respectively.

This isn’t aimless layout but a three-dimensional thinking of the entire AI ecosystem—from downstream computing support, midstream connectivity, to upstream application scenarios. Duan’s portfolio reflects what “industry chain investment thinking” truly means.

Meanwhile, his reduction of Apple holdings—over 7%, totaling 2.4706 million shares—also signals a transfer of capital from traditional high-quality assets to emerging opportunities.

Conclusion: From Achievements to Industry Chain Investment Iteration

Duan Yongping’s investment story is fundamentally about adaptation and foresight. From the era of Little Tyrant and BBK to his retirement and value investing, and now to AI industry chain layout—each transition aligns with the rhythm of the times.

True investors never follow the crowd. They see logic others miss and wait for time others can’t afford. Duan Yongping’s over 30-year investment track record teaches us that sticking to value, insightful trend analysis, and patience are the keys to long-term success.