 Lu Peizhi is from Lu Dang in Longshan Village, Helexiang. His parents died early and his family was poor. In 1902, he applied to a private iron company in Shanghai to be a waiter. He was diligent and dedicated to his work. He quickly mastered the industry and gained the trust of the owner. After the political turmoil, the iron company was in loss. The original owner did not want to run it, so he invested to buy the iron company, changed its name to Hengfeng Iron Company.