Richard Liu Qiangdong, founder and chairman of JD.com, has announced a US$700 million personal investment to launch a new yacht brand named Sea Expandary, marking his entry into high-end manufacturing beyond the e-commerce sector, multiple media outlets report.
Sea Expandary will focus on green and intelligent yachts powered by new energy. Lui has said he aims to re-position yachts as a future mass-market product with a US$15,000 price point to enable “everyday households” to own a yacht much as they would a car. He also wants his brand to compete with established players in Europe and the US.
Under the plan, Sea Expandary will build a yacht manufacturing base in Zhuhai, while establishing its China headquarters in Shenzhen to oversee domestic operations, branding, supply chains and overseas expansion. It has already signed cooperation agreements with the Zhuhai Municipal Government, the Shenzhen Marine Development Bureau and the Qianhai Authority.
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Liu said his investment covered the full value chain, including research and development, manufacturing, sales, leasing, brokerage and after-sales services. The plan is to build multiple marinas, R&D centres and service hubs across the Greater Bay Area, including three new marinas in both Zhuhai and Shenzhen as part of the venture.
According to Liu, the company has already secured overseas orders for five large twin-hull yachts. He has also stressed that he would not be involved in day-to-day operations, with his primary focus remaining on JD.com.
Yachting’s popularity has surged in China in recent years. The number of yachts in the country rose from around 4,500 to nearly 10,000 between 2022 and 2025, according to transport ministry figures.
