This U.S. asset management giant defined growth-stock investing, avoided the internet bubble, and upheld the dignity of active management.

‘Highest integrity and best investment philosophy’ was the founding principle set by Thomas Rowe Price, Jr. when he established the firm—and this principle continues to guide T. Rowe Price’s team forward in creating value. Active management for strong long-term returns As of 2018, T. Rowe Price remains one of the world’s leading active investment management firms. A T. Rowe Price survey found that, over the past 20 years, all 18 of its institutional diversified U.S. equity active strategies outperformed their respective benchmarks across multiple time periods—or since inception.[2] It is widely believed that active managers cannot add value for investors in the world’s most efficient capital markets; T. Rowe Price’s research challenges this view. According to the above research, the majority of T. Rowe Price’s U.S. large-cap equity strategies have consistently outperformed their benchmarks across all relevant periods—reaffirming the merits of a long-term, forward-looking strategy. An independent academic study[3] further supports T. Rowe Price’s investment approach: overall, active equity managers possess the ability to select stocks that outperform the broad market on a pre-fee basis; and management teams focused on stability and long-term horizons tend to deliver superior results.[4] T. Rowe Price’s success stems primarily from its long-standing, stable investment team, which adheres rigorously to disciplined stock selection and in-depth fundamental research—a key competitive advantage sustained over many years. T. Rowe Price’s leadership in the Asia-Pacific region Today, T. Rowe Price is not only a global firm managing trillions of dollars in assets, but also a leader in Asia’s investment and asset management industry. Since opening its first office in Tokyo in 1982, T. Rowe Price has actively expanded its footprint across the Asia-Pacific region, strengthening local investment research capabilities and broadening its range of investment products and services. As of April 2018, T. Rowe Price had five offices and 149 employees—including 53 investment professionals—in the Asia-Pacific region. Since its founding in 1937, investors have consistently relied on T. Rowe Price’s time-tested, long-term investment strategies. Going forward, T. Rowe Price will continue leveraging its strengths in active management to help investors across Asia and the globe anticipate market shifts, uncover investment opportunities, and generate long-term returns. At 6 a.m., ships begin entering and leaving Baltimore Harbor, marking the start of a new day. Meanwhile, an invisible giant vessel in Baltimore slowly sets sail into the Atlantic at sunrise, bound for destinations around the world—to seek new opportunities and explore new frontiers. T. Rowe Price is always sailing—carrying its passengers toward the shores of the future. Note: Funds managed by T. Rowe Price available to investors via Yunfeng Financial Group’s YouFish Smart Investment platform include: “T. Rowe Price SICAV – U.S. Large-Cap Growth Equity Fund,” “T. Rowe Price SICAV – Global Focused Growth Equity Fund,” “T. Rowe Price SICAV – Emerging Markets Equity Fund,” and “T. Rowe Price SICAV – Global Technology Equity Fund.” Three of these are included in the “YouFish Select” series. Note: Investments involve risk. Past performance is not a reliable indicator of future performance. Investors should refer to the prospectus for full details on investment objectives, policies, and risks.

I have launched an investigation into U.S.-based DuPont. Why was DuPont singled out as a representative case amid the China–U.S. trade contest?

III. DuPont’s Past and Present! DuPont (E.I. du Pont de Nemours and Company) is a historic multinational enterprise whose development spans over two centuries—from a gunpowder manufacturer to a global leader in science and advanced materials. DuPont’s history is not merely the rise and fall of a single corporation, but also a microcosm of America’s chemical industry evolving from traditional manufacturing to high-tech innovation. Below are key stages in its development: 1. Origins and Early Development (1802–1902) Founding Context: In 1802—during the Jiaqing reign of the Qing Dynasty—French immigrant Éleuthère Irénée du Pont founded DuPont in Wilmington, Delaware, initially producing gunpowder. Government contracts (e.g., during the War of 1812) fueled early growth. Family-Style Management: For its first century, DuPont operated under strict military-style family control. Henry du Pont consolidated the U.S. gunpowder market through industry alliances and acquisitions; in 1889, he formed the U.S. Powder Trade Association, controlling two-thirds of national output. 2. Transformation and Expansion in the 20th Century (1903–2000) The ‘Three Brothers’ Revival: After Eugene du Pont’s death in 1902, the company faced crisis. Brothers Alfred, Coleman, and Pierre assumed leadership, transforming DuPont from a family business into a modern conglomerate. They acquired or merged with 64 companies, securing control over two-thirds of U.S. explosives capacity, and incorporated the new entity as E.I. du Pont de Nemours Powder Company. Diversification and Innovation: During both World Wars, surging military orders brought immense profits; post-war, DuPont pivoted decisively into chemicals. Starting in the 1930s, it launched revolutionary materials including nylon and Teflon, cementing its leadership in polymer chemistry. Later innovations—Kevlar, Tyvek—found wide application in defense, aerospace, and healthcare. Management Reform: From the 1940s onward, DuPont gradually introduced professional managers, diminishing family control. Repeated spin-offs and restructurings followed to meet global competition. 3. Spin-offs and Restructuring in the 21st Century: Breaking Up to Scale Down (2000–2025) In 1902, DuPont began establishing multiple laboratories dedicated to polymer materials research—while, at the same time, the Qing court fled Xi’an after the Eight-Nation Alliance invasion and signed the Boxer Protocol before returning to Beijing. China’s strategic focus on polymer materials thus lagged behind DuPont’s by roughly 80 years. From 1917, DuPont held a 23% stake in General Motors, forging industrial synergy; by 1920, its 27% share gave it effective control, allowing DuPont to dominate GM’s board until antitrust divestiture in the 1950s. From 1935 onward, DuPont developed nylon, Teflon, and other breakthrough materials—while China was embroiled in civil war and resistance against Japan. China’s progress in this domain trailed DuPont’s by about 70 years. During WWII (1939–1945), DuPont supplied critical military materials to Boeing, earning special equity stakes that long influenced Boeing’s aerospace materials R&D decisions. In the 1960s, the DuPont and Rockefeller families jointly built a chemical-finance consortium—the Chase Manhattan Bank. From the 1980s, DuPont began exiting basic chemical production and petroleum operations, focusing instead on specialty chemicals and materials science—whereas China’s petrochemical system was only just beginning. China lagged by approximately 80 years. In 1981, DuPont acquired Continental Oil Company (Conoco) for $8 billion, later controlling 12% of U.S. crude oil production via the DuPont–Conoco structure. After 2000, DuPont spun off traditional materials businesses and progressively entered nutrition & health, electronic materials, and medical materials—by which time China lagged by about 20 years. In 2004, DuPont sold its textile and interior décor business—including nylon and Lycra brands—to Koch Industries (now Invista) for $4.4 billion in cash. In 2015, DuPont spun off its Teflon, titanium dioxide, and related businesses into Chemours, an independent, publicly traded company. In 2017, DuPont merged with Dow Chemical to form DowDuPont, later unwound due to antitrust concerns and strategic realignment. In 2019, DowDuPont split into three independent, publicly traded companies: • Dow: Focused on materials science (e.g., plastics, coatings); market cap > $20 billion. • Corteva Agriscience: Specializing in agricultural technology (seeds, crop protection); market cap > $40 billion. • New DuPont: Operating specialty products (e.g., electronic materials, medical devices); market cap > $25 billion. In 2021, DuPont divested its Nutrition & Biosciences business to International Flavors & Fragrances (IFF) for $7.3 billion. In 2022, DuPont sold the majority of its Mobility & Materials (M&M) business—primarily engineering plastics—to Celanese for $11 billion. In 2023, DuPont sold 80.1% of its Delrin homopolymer POM business to TJC LP for $1.8 billion—representing ~80% of the global homopolymer POM market. In 2024, DuPont announced plans to spin off its Electronics business (semiconductor technologies, interconnect solutions) into a standalone public company, targeting completion in 2025. Over the past two decades, China has steadily completed the full revival of its chemical materials industry—traversing in 20 years the path the U.S. chemical sector (exemplified by DuPont) took over 80 years. As of the first half of 2025, China’s high-end materials sector has experienced explosive growth, achieving near-total domestic substitution. The trade conflict has evolved from earlier agriculture-focused tariffs to today’s across-the-board 34% blanket tariffs—highlighting the extraordinary intensity and significance of China’s five-year sprint in advanced materials. Setting aside national boundaries, while China’s chemical and materials industry has made rapid strides over the past two decades, it still needs to draw on DuPont’s experience in fundamental research, industrial upgrading, and global competition—advancing from a manufacturing powerhouse to an innovation-driven nation.

Asset Management One Increases Stake in DuPont de Nemours

10 hours ago

Asset Management One raised its DuPont stake by 19.2% to 103,663 shares worth $13.5 million. Institutional ownership reached 73.96% as DuPont beat earnings and declared a $0.60 quarterly dividend.

MarketBeat

2026-04-09

Oak Thistle LLC Acquires 46,908 Shares in DuPont de Nemours Inc.

2026-04-09

Oak Thistle LLC Acquires 46,908 Shares in DuPont de Nemours

2026-04-13

BMO Capital Markets Raises DuPont de Nemours Price Target to $60

2026-04-15

DuPont de Nemours Maintains Quarterly Dividend at $0.20 Per Share

2026-04-16

Robeco Institutional Asset Management B.V. Decreases Stake in DuPont de Nemours, Inc.