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The Journey of Du Shuanghua in the Steel Industry

In 2010, Du Shuanghua decided to change the face of Rizhao Steel forever by selling his stake to Shandong Iron & Steel. Even though he deviated from the original plan, which was to form a merger with Shandong, at the time, the decision to sell was in the best interests of both himself and the company. Du founded Rizhao in 2003, and as the founder of the company, he remained a majority owner for the longest time. In 2009 he decided to sell a 67% stake to Shandong, and in return, he was only left with a 33% stake. Finally, in 2010, Du Shuanghua sold his remaining stake in the company.

After 2010, Du moved ahead with other projects and has continued to experience immense success. As of 2021, he is regarded as among the wealthiest people in China, with a net worth of 1.3 billion USD. As a business leader who has worked hard to achieve success, Du has always taken part in philanthropy. Du, now 56 years old, attributes most of what he has achieved to personal effort. He is among the few world business giants that have been labeled as self-made by Forbes. Du continues to handle most of his businesses from Hengshui, China, and is the current chairman of Rizhao Steel Holding Group. Looking back to 2010, when Du had challenges with Rizhao Steel, various steps kept him thriving in the steel industry in the years that followed. In 2013, he introduced ESP lines 1, 2, and 3. Even though these lines started operating in 2015, they have made it available for this great entrepreneur to produce steel thickness of 0.88mm. These have been made possible by more lines that he brought in, in 2014 being ESP lines 4 and 5. Also, one notable line that he brought into the company in 2014 was a multi-purpose process line. These business strides have kept his businesses in healthy competition with other steel companies.

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