JD.com’s billionaire founder Richard Liu is betting big on green, intelligent yachts with a 5-billion-yuan (US$700 million) personal investment.
Liu yesterday announced the launch of the independent yacht brand, Sea Expandary, and signed partnership deals with the local governments in Shenzhen and Zhuhai. The company signed agreements with Shenzhen’s Marine Development Bureau and Qianhai Authority, as well as the Zhuhai Municipal Government.
Sea Expandary will set up its China headquarters in Shenzhen to oversee operations, brand management, supply-chain coordination, and global marketing, while also building and operating multiple marinas and supporting facilities in the city.
In neighboring Zhuhai, it will build a modern, intelligent yacht manufacturing base, focusing on new-energy propulsion, intelligent navigation systems, and interior design. The project will span the entire value chain — from R&D and manufacturing to sales, operations, leasing, brokerage, and after-sales services.
Liu said building ships was in his genes, as his family had been boat people a century ago. “I’ve always wanted to be a skipper since I was young, and even today I sleep best on boats,” the JD.com chairman said.
Liu drew a parallel to the early days of the automobile industry, noting that just as cars were once unaffordable for ordinary consumers, yachts willin the future become widely accessible. He expressed his vision of launching US$15,000-level yachts with ample space, enabling working-class families to enjoy yachting.
Liu emphasized that the investment is a personal venture and that he will not be directly involved in the brand’s day-to-day operations.
Additionally, Sea Expandary plans to establish R&D and innovation centers, yacht operations and service centers, and bonded maintenance hubs across the Guangdong-Hong Kong-Macao Greater Bay Area, forming a comprehensive industry ecosystem.
In interviews, Liu revealed that Sea Expandary yachts will leverage artificial intelligence and robotics technologies to deliver four core features:
New-energy power using wind generation and solar charging for zero fuel and emissions;
A fully intelligent, end-to-end user experience;
Smart self-rescue systems to ensure survival in extreme conditions;
Pure electric propulsion enabling ultra-quiet, vibration-free cruising.
The brand’s official website, se.360cec.com, is now live. Liu disclosed that the brand has already attracted interest from overseas buyers, securing orders for five 72-meter twin-hull superyachts.
Liu noted that manufacturing differs fundamentally from his previous venture in online retail, and he is prepared to spend 10 to 20 years to build the yacht brand.
Notably, this new investment comes against the backdrop of a rapidly growing domestic yacht market. Data from the Ministry of Transport revealed that the number of yachts in China has seen significant growth over the past three years, with newly registered yachts accounting for approximately 54.7% of the total. By the end of 2025, there were 9,850 yachts registered in China.
China’s yacht manufacturing industry, however, is still in its infancy compared with its overall shipbuilding sector, which has established dominance in oil tankers, cargo ships, and container vessels.
According to statistics, China's global market share in yacht manufacturing is less than 4%, far behind countries like Italy, the Netherlands, and Germany. In 2024, the output value of China’s yacht building was only 12.8 billion yuan, with exports totaling just US$600 million.
Last month, the State Council announced plans to promote yachting as a new potential growth point for boosting domestic consumption, while provinces such as Hainan, Guangdong, Jiangsu, and Fujian have also introduced local policies to encourage the yacht industry.