Diana Chen, one of Chinas richest women, is not your typical iron industry baron1.
陈宁宁今年36岁，是受过西方教育的高干子弟她已经过世的外祖父吕东曾于上世纪60年代和70年代担任原冶金工业部部长。
Ms Chen, 36, is a Western-educated princeling, as the children and grandchildren of Chinas communist elite2 are known. Her late grandfather, Lu Dong, was Chinas metallurgy minister in the 1960s and 1970s.
今年夏季，陈宁宁对香港上市的中国东方集团发起了敌意回收。此前，她与持有东方集团45%股权的主席韩敬远闹翻。东方集团控制着湖北一座中等规模的钢铁厂。
This summer, Ms Chen launched a hostile takeover for Hong Kong-listed China Oriental Group, which controls a mid-sized steel mill in Hebei province. Her bid came after a falling out with Han Jingyuan, Orientals chairman, who controls 45 per cent of the company.
在由陈宁宁外祖父等守旧派中央计划官员塑造出的钢铁产业中，这种举动颇不一般。但这位中国钢铁公主的职业路径就颇不一般。 Such manoeuvres are unusual in an industry forged by conservative central planners such as Ms Chens grandfather. But then so is the career path of Chinas iron princess.
上世纪90年代早期，陈宁宁到纽约理工学院攻读MBA学位，毕业后回香港与妈妈一同创办了嘉鑫钢铁集团公司。她的妈妈在大学期间曾学习冶金专业，但此前从未涉足该行业。在此后短短10年时间，嘉鑫钢铁成为中国最大的铁矿石民营进口商。去年，《福布斯》杂志估计，陈宁宁个人财富高达2.16亿USD。
In the early 1990s, Ms Chen studied for an MBA degree at the New York Institute of Technology before returning to Hong Kong to start Pioneer Iron Steel Group with her mother, who had studied metallurgy in university but was not previously3 involved in the industry. In little more than a decade since, Pioneer has become one of the largest private importers of iron ore into China. Last year Forbes magazine estimated Ms Chens wealth at $216m.
这其实就是通过非传统方法进入一个传统行业，陈宁宁表示，以前，所有人都从事简单的贸易。大家借助无形资产和技术帮助（武汉钢铁集团和鞍钢新轧等国有企业）获得贷款，并对其进行改造，筹备进行初次公开发行。
It was a matter of using non-traditional means to approach a traditional industry, Ms Chen says. Before, everyone just did simple trading. We used intangible assets and skills to help [state-owned companies such as Wuhan Iron and Steel Group, and Angang New Steel Company] get loans and to reform themselves to prepare for IPOs.
陈宁宁表示，这类服务都是免费提供的，但它们能够帮助打造关系，并使她对这类公司有了深入知道。到世纪交替之际，钢铁行业开始在中国经济进步的推进下复苏，当时，嘉鑫处在将中国钢铁制造商与外国铁矿企业结合的好地方。她表示：到2003年，中国大约15%至20%的铁矿石由大家进口。
Those services were provided free of charge, says Ms Chen, but they helped build relationships and gave her an in-depth knowledge of the companies. By the turn of the century, when the steel industry revived on the back of Chinas economic growth, Pioneer was well-positioned to bring together Chinas steel makers4 and foreign iron miners. By 2003, we were importing about 15-20 per cent of Chinas iron ore, she says.
陈宁宁承认，作为中共高层官员的后代，身份对她有所帮助，但只不过大家了解你来自一个有名望的家庭。我的外祖父从没贪污过，我妈妈常常教会我不要令我外祖父的名声蒙羞我有关系，但我从没用过。
Ms Chen admits that being the descendant of a TOP communist official has helped, but only in the sense that people knew you came from a respectable family. My grandfather was never corrupt5, and my mother always told me not to shame my grandfathers name?.?.?.?I had the guanxi [connections], but I never used them.
陈宁宁表示，她向中国东方集团股东提出的推广竞价，代表着复兴这家企业的最后努力。她声称，该集团是为数不多的完全不受国家控制的上市钢铁公司之一，但它没能充分借助其作为一家香港上市公司，可以进入现代金融市场的途径。
Ms Chen says her offer to China Orientals shareholders7 represents a final effort to revitalise the company. She claims the group, one of Chinas few publicly listed steel companies that is completely free of state ownership, failed to make full use of its access to modern financial markets as a Hong Kong-listed company.
极少有人尝试在香港进行敌意回收，在香港很多规模较小的上市公司，都是最大的股东持有控股权。但陈宁宁表示，假如她获得成功，就计划进行大举集资，并回收规模较小的角逐对手。
Hostile takeover attempts are extremely rare in Hong Kong, where in many smaller listed companies the largest shareholder6 owns a controlling stake. But if she succeeds, Ms Chen says she plans to aggressively raise funds and acquire smaller rivals.
假如失败，我将退出该公司。我还有其它计划，譬如回收另一家工厂，但我还没有傻到在没做最后努力之前就舍弃的地步。
If I fail, I will exit the company. I have other plans such as buying another mill, but I am not so silly as to give up before this one last try.
中国东方集团董事会（除陈宁宁以外）已表示，她对该企业的竞购是主动进行的，而且没得到董事会的支持。上周，董事会建议股东拒绝此次回收。现在未能联系到韩敬远予以置评。 China Orientals board, excluding Ms Chen, has said her bid for the company was unsolicited and did not have the support of the board. Last week, it advised shareholders to reject the offer. Mr Han could not be reached for comment.
陈宁宁的出价等于每股3港元，远低于该股上周五3.59港元的收盘价。在今年2月初次宣布此次回收买卖时，中国东方集团的股价为2.24港元，陈宁宁声称，近期的涨幅与（她的）价格有关，不会持续下去。
Ms Chens offer price amounts to HK$3 per share, well below Fridays closing price of HK$3.59. China Oriental shares traded at HK$2.24 when the takeover was first announced in February, and Ms Chen claims the recent gains were related to [her] offer and not sustainable.
陈宁宁的竞购被称作是私营行业对中国政府的初次回话之一，中国政府正努力将全国260家钢铁公司整理成规模更大、更具竞争优势的集团。国有控股的武汉钢铁和鞍钢等公司已开始着手进行并购买卖。 Ms Chens bid has been billed as one of the first private-sector responses to Beijings efforts to consolidate8 the nations 260 iron and steel companies into larger, more competitive groups. State-controlled Wuhan Iron Steel and Angang, among others, have already embarked9 on mergers10 and acquisition deals.
陈宁宁表示：5年内，中国钢铁业将进行整理，并出现超大型钢铁公司。
In five years time there will be consolidation11 and mega steel companies in China. Ms Chen says.
假如你不回收其它公司，你就会被其他人回收。
If you dont acquire others, you will be acquired.
