The Collapse of Delong

Author: Fu Wengge
Publisher:
Publish Date: 2004-08-01
Features: Delong is an enigmatic figure, but this mystery is gradually being unraveled. Delong was a safe haven in the stock market, an "kind" entity that didn't devour people, but ultimately staged a painful "high-platform diving" scene. Delong was a miracle, an outlier, but in the end, it still walked the path of a hero with unfulfilled ambitions. A significant portion of Chinese entrepreneurs are highly respectable. They don't just run businesses to "fight for money"; they primarily fight for honor, for the honor of Chinese enterprises. "Haste makes waste." Running a business can't be rushed, but it can't be too rushed either. Haste leads to frustration, frustration leads to deviation, and deviation leads to trouble. "You can't become fat overnight." Even the most and the most far-reaching ideals must be approached step by step. Overeating leads to indigestion. Newton said, "I see further because I stand on the shoulders of giants." For Chinese private enterprises, Delong was also such a giant. Its vast presence laid the foundation for the healthy development of other private enterprises in the future. We hope—tragedy will no longer repeat itself, and glory will be rewritten. Starting from the Urumqi Color Development Store, it experienced the "seller's market" of the rapid development of the information industry, the real estate bubble of the early 1990s, and China's early stock market where "ripping a piece of paper could make money." Since the reform and opening-up, Delong seized almost every opportunity to make money and almost every field to start a fortune. At its peak, Delong had 177 subsidiaries and granddaughters, managing billions of yuan in funds, spanning industries such as agriculture, cement, manufacturing, finance, aerospace transportation, logistics, cultural tourism, and more. Experts claim: If calculated according to the output value method of the World 500, Delong had long been qualified to enter the World 500. The "entrepreneurial club" philosophy, internationalization concept, and industrial integration concept that Delong actively advocated shone with its own unique brilliance and also reflected the wisdom of business operations. Delong's expansion journey, despite its ultimate failure, still holds reference value.