Shanghai Dingheng Group donated to the Westlake Education Foundation on Jan. 17 to support research on deep-sea technology. The donation ceremony was held at the Yungu Campus. Founder and CEO Duozhu Li and other representatives of Dingheng attended the ceremony.

Westlake University President Yigong Shi expressed his gratitude for Dingheng’s generosity. “It is very moving that Dingheng decided to donate in such a short time. Dingheng plays an important role in connecting China with the world through shipping. In the same way, Westlakers also serve as a bridge for scientific exchange. Our development cannot go far without the support of private industry. I believe Westlake will become better and better with more support like Dingheng.”

Duozhu Li, founder and CEO of Dingheng, has had a fascinating life. In 2010, 19 sailors, all Dingheng employees, were held hostage by Somalian pirates in the Gulf of Aden. Li mortgaged all of his property and stock and did his utmost to raise enough money to bring his employees home. After four months of difficult negotiations, and paying a ransom of $2.7 million, the sailors returned to China safe and sound.

Li shared his story at the donation ceremony. “It took me only a few days after meeting President Shi to decide on this donation. That looks like a swift decision, but I had been mulling it for over a decade. When our 19 sailors were taken in 2010, I promised our staff in an open letter that I’d be willing to donate all my wealth to public welfare if they came back safe and sound. When I learned about the establishment of Westlake on the news, I was already interested. As it turns out, Westlake University is the public welfare project that I’ve been waiting for."

Dingheng, one of the largest shipping businesses in China, has two subsidiary companies: Shanghai Dingheng Shipping Technology and Shanghai Wanfang Leasing. Shanghai Dingheng Shipping Technology specializes in the international and domestic shipping of liquid chemicals. It is one of the top 10 companies in the global chemical shipping industry in terms of cargo.

At the ceremony, Dingheng Group and the Westlake Education Foundation signed the donation agreement. After that, Shi presented Li with the donation certificate.

Participants in the ceremony included Bing Wan and Sihui Li, family members of Duozhu Li; Yang Li, deputy CEO of Dingheng Group; Xin Lan, stockholder of Dingheng Shipping; Xiaoyun Zhu, vice president of Westlake University; Minhao Liu, deputy chairperson of the Westlake Education Foundation; Prof. Weicheng Cui, chair professor of deep sea technology at Westlake University; Shanghan Lin, acting deputy secretary general of the Westlake Education Foundation; and Hong Chai, deputy secretary general of the Westlake Education Foundation.