Liu Qiangdong has made another strategic move in the yachting industry. Recent market reports indicate that Sea Expandary—an independent yacht brand founded by Liu—has finalized the acquisition of an 80% stake in OceanWalker, making the latter a core brand within the Sea Expandary portfolio.
Public records show that OceanWalker was established in December 2022, with its headquarters and manufacturing base located in Fujian Province. It is a modern yacht enterprise integrating design, R&D, manufacturing, sales, and service. The company operates large-scale, standardized production facilities and intelligent, high-end production lines, possessing comprehensive capabilities that span from yacht design and project development to manufacturing. Its core products include the S60 series (luxury catamarans) and the X series (high-speed monohull flybridge yachts).
Leveraging OceanWalker’s existing business scope, this acquisition enables Sea Expandary to expand production capacity, fill gaps in specific vessel categories, and shorten delivery times. The company’s manufacturing capabilities now span a full range of vessels, including superyachts, medium-to-large yachts, sailboats, and support vessels. Furthermore, by utilizing proprietary core technologies—such as solid-state batteries, AI, and surface/underwater robotics—the company creates products that are safer, smarter, quieter, eco-friendly, and comfortable. All models feature autonomous docking and undocking, intelligent collision avoidance, and voice-controlled vessel management, catering to the diverse needs of yacht owners worldwide.
As a newcomer to the yachting sector, Sea Expandary has completed two major acquisitions within six months; the other transaction involved an overseas yacht service provider.
On May 28, Hong Kong-listed Lai Sun Development (LSD) reached an agreement with Wave Expandary, a wholly-owned subsidiary of Sea Expandary, to sell an 80% stake in Camper & Nicholsons—a century-old European yachting service provider—for €40 million. This price implies a total enterprise valuation of approximately €50 million for the target company. The transaction is expected to close by September 30, 2026.
Founded in 1782, Camper & Nicholsons boasts a history spanning over 240 years. The company primarily serves the international superyacht market, offering services such as sales and charter brokerage, yacht management, new-build and design management, insurance, and crew placement.
These major acquisitions represent a significant step in Sea Expandary’s comprehensive expansion into the yachting sector, helping the company establish an end-to-end service chain that encompasses design, manufacturing, delivery, berthing, maintenance, and refitting.
Liu originally announced his entry into the yachting sector in February 2026, pledging a personal investment of 5 billion yuan to establish Sea Expandary. At the time, he revealed that he had already secured orders for five large yachts—72-meter catamarans priced at an average of 60 million euros each—noting that these orders were placed by “overseas friends based on their personal trust” in him.
Shortly thereafter, Sea Expandary signed strategic cooperation agreements with local governments in Shenzhen and Zhuhai. Under these plans, Zhuhai will invest in the construction of a yacht manufacturing base, while Shenzhen will host the company’s China headquarters and participate in the development and operation of multiple marinas and supporting facilities. Additionally, a suite of supporting facilities—including an R&D innovation center, a yacht operations and service center, and a bonded maintenance center—will be established in the Greater Bay Area, creating a comprehensive yacht industry ecosystem.