On February 24, Liu Qiangdong, founder and chairman of JD.com, announced that he would invest 5 billion yuan (approximately US$728 million) in the yacht industry in his personal capacity and establish an independent yacht brand, Sea Expandary.
Liu Qiangdong stated that investment in yacht manufacturing in China is characterized by being “small, scattered and weak,” with almost no yacht manufacturing company investing more than ten million yuan. However, yachting is actually a capital- and technology-intensive industry. He invested 5 billion yuan in Guangdong to compete with top-tier yacht manufacturing companies in Europe and America.
Liu Qiangdong emphasized that this investment is a personal investment, and he will not be directly involved in its operation and management. He also expressed his hope to build a yacht worth 100,000 yuan in the future, so that ordinary wage earners can also afford to own a yacht.
In terms of strategic layout, Sea Expandary has signed strategic cooperation agreements with the governments of Shenzhen and Zhuhai. According to the plan, Zhuhai will invest in and build a yacht manufacturing base, while Shenzhen will establish its China headquarters for the yacht business and participate in the construction and operation of multiple marinas and supporting facilities. Furthermore, the Greater Bay Area will also see the establishment of a series of supporting institutions, including R&D and innovation centers, yacht operation and service centers, and bonded repair centers, forming a complete yacht industry ecosystem.
According to its official website, Sea Expandary is positioned as a leading global green and intelligent yacht industry ecosystem. It will target the global market and build a complete yacht industry chain integrating R&D, design, manufacturing, global sales, yacht club services and marine scientific research services, providing top-notch products and services to yacht customers worldwide.
JD.com is a leading supply chain-based technology and service company in China. It was listed on the US stock market in 2014 and had a secondary listing on the Hong Kong stock market in 2020. It ranks 44th on the Fortune Global 500 list.
With businesses covering retail, logistics, technology, healthcare, industry, and international operations, it boasts core strengths in self-operated e-commerce and in-house logistics, serving over 700 million annual active users. Its subsidiaries include JD Retail, JD Logistics, and JD Health. Driven by technology to improve efficiency, JD is committed to becoming the world’s most trusted enterprise.