Following the announcement earlier this year that he was entering the yacht industry, Liu Qiangdong, founder and chairman of the board of JD.com, has launched a new yacht manufacturing company.
According to commercial registration data, Shenzhen Tanhai Yacht Industry Development Co., Ltd. established a wholly-owned subsidiary on May 15, 2026. The new company is named Dalian Tanhai Yacht Co., Ltd., with a registered capital of 100 million yuan. The legal representative is Zhang Ran, and the registered address is Jinpu New Area, Dalian City, Liaoning Province. The company operates in the railway, shipbuilding, aerospace, and other transportation equipment manufacturing sector. Its business scope includes the manufacture and sale of recreational and sports boats, the manufacture of marine auxiliary equipment, the sale and leasing of vessels, and the R&D, manufacture, and sale of marine engineering equipment.
It is understood that Shenzhen Tanhai Yacht Industry Development Co., Ltd. (hereinafter referred to as “Tanhai Company”), whose investor is Liu Qiangdong, is an affiliate of Sea Expandary—an independent yacht brand founded by Liu Qiangdong. Established in February 2026, the company has Zhang Ran as its legal representative and a registered capital of $10.88 million, and is wholly owned by Future Expandray.
In March 2026, the Dalian Municipal Government signed a strategic cooperation agreement with TanHai Company, marking the official establishment of TanHai’s yacht manufacturing base and yacht operation project in Dalian. Liu Qiangdong attended the signing ceremony. With a total investment of 15 billion yuan, the project plans to build a customized high-end yacht production line in Dalian, primarily engaged in the R&D, design, and manufacturing of large yachts and components, as well as the operation of a “Yacht City Lounge” and a comprehensive service homeport, aiming to create a yacht service hub.
Earlier, in February 2026, Liu Qiangdong announced a 5 billion yuan (approximately $736 million) investment in the yacht industry in his personal capacity, and launched an independent yacht brand called Sea Expandary. Liu stated that this was a personal investment and that he would not be directly involved in the company’s operations. He expressed his hope to eventually produce yachts priced at 100,000 yuan, making them affordable for ordinary working-class people.
It is worth noting that when announcing the launch of Sea Expandary, Liu Qiangdong revealed that he had “already received orders for five large yachts—72-meter catamarans—with each vessel selling for an average of 60 million euros,” adding that these orders were placed by “foreign friends based on their personal trust in him.”
On January 29, the General Office of the State Council issued the “Work Plan for Accelerating the Cultivation of New Growth Points in Service Consumption,” which proposed measures such as “promoting the high-quality development of yacht consumption, revising relevant regulations and rules—including those on yacht safety management—to ensure the healthy development of the yacht industry; strengthening yacht infrastructure and supporting services, such as public marinas and berths; leveraging events like the China International Consumer Goods Expo to create platforms for yacht exhibitions and trade; and supporting eligible localities in innovatively introducing a range of yacht consumption scenarios.” The Ministry of Transport has explicitly stated that it is accelerating the research and formulation of the “Several Measures for Expanding Yacht Consumption.”
In the Dalian region—a key strategic focus for Liu Qiangdong—the Dalian Municipal Government has issued the Implementation Plan for Promoting the High-Quality Development of the Cruise and Yacht Industry in Dalian. This plan outlines objectives such as: “By the end of 2026, the standard of yacht marina infrastructure, the development of application scenarios for pleasure craft and yachts, and service support capabilities will have significantly improved. Furthermore, a market-based institutional framework for yacht operations will be largely established, while substantial progress will be achieved in yacht R&D, design, manufacturing capabilities, and the development of supporting industries. The aim is that, during the ’15th Five-Year Plan’ period, Dalian’s yacht industry will continue to expand; the technological level of yacht equipment, supply capacity, and the consumer market will see significant enhancements; and the yacht industry will be cultivated into a new growth engine for the city’s economic development.”
Furthermore, coastal regions across China—including Jiangsu, Guangdong, Fujian, and Hainan—have all introduced local policies designed to encourage the development of the yachting industry.
From a market perspective, Liu Qiangdong’s entry into the yachting sector comes at a time when the domestic market is experiencing rapid growth. By the end of 2025, the number of validly registered yachts in China is projected to reach 9,850, and this upward trajectory is expected to persist throughout the 15th Five-Year Plan period. Concurrently, my country has identified yacht consumption as a key new growth point for accelerating the development of the service sector. This strategic focus is driving the yachting industry’s transformation toward mass-market accessibility and large-scale expansion—a shift that, in turn, will generate substantial market demand.