吴晓波：戴国芳还能第三次归来吗？

Core Viewpoint - The article discusses the rise and fall of Dai Guofang, a prominent figure in the steel industry, highlighting his entrepreneurial spirit, optimism, and the challenges faced by his company, Delong Nickel Industry, leading to its current financial difficulties [5][27][33]. Group 1: Company Background and Growth - Dai Guofang founded Jiangsu Tieben Casting Steel Co., Ltd. in 1996 and aimed to build a large steel plant with an investment of 10.6 billion yuan, targeting to surpass Baosteel in three years and POSCO in five years [8][9]. - After serving five years in prison for tax-related crimes, Dai returned to the industry, securing 3 billion yuan to establish Delong Nickel Industry in 2010, focusing on high-value stainless steel production [12][19]. - By 2015, Delong Nickel had achieved a revenue of 4 billion yuan, becoming a mid-sized player in the industry, and by 2023, it ranked as the eighth largest steel company in China with a revenue of 169.5 billion yuan [19][19]. Group 2: Challenges and Setbacks - The steel industry faced a downturn due to a decline in real estate and infrastructure projects, causing stainless steel prices to plummet and nickel prices to drop from 230,000 yuan/ton to 130,000 yuan/ton [27][27]. - Delong's projects in Indonesia faced delays due to the pandemic, leading to significant financial losses and management issues [27][28]. - The company's financial model came under strain, with over 50 billion yuan in assets but high financing costs from local government platforms, leading to a debt crisis [28][29]. Group 3: Future Prospects - Despite the current challenges, there is potential for recovery as global commodity prices rise and the steel market shows signs of recovery [32][32]. - If restructuring is successful, both the Jiangsu and Indonesian projects could be revitalized, allowing for a potential comeback for Dai Guofang [32][32]. - Dai's optimistic outlook remains, as he expresses a desire to continue in the steel industry, indicating a strong entrepreneurial spirit despite past failures [33][33].