Sea Expandary, the yacht venture founded by JD.com founder and chairman Liu Qiangdong, has established two companies in China’s Jiangsu province, each with registered capital of 100 million yuan.
The registrations follow Liu’s announcement in February 2026 of a planned personal investment of 5 billion yuan in the yacht industry.
Registered capital represents the companies’ stated capital commitments, rather than confirmation that equivalent sums have already been spent on facilities.
According to business registration records, Sea Expandary (Jiangsu) Co., Ltd. was established in Wuxi on 26 October 2026. It is wholly owned by Shenzhen Sea Expandary Yacht Industry Development Co., Ltd.
Recreational and sports boat manufacturing
Sea Expandary (Nantong) Co., Ltd. was incorporated the following day as a wholly owned subsidiary of the Jiangsu company. Zhang Ran is the legal representative of both entities.
Their registered activities include recreational and sports boat manufacturing, marine equipment production and offshore engineering equipment research, development and sales.
They also cover vessel leasing, design, construction, refitting, repair and dismantling. The registrations extend the venture’s geographical presence, although they do not establish when production will begin.
At the brand’s launch, Liu said he had already secured orders for five 72-meter catamarans, with an average price of 60 million euros each.
Cooperation agreements
This latest expansion follows cooperation agreements with Shenzhen and Zhuhai with plans including a manufacturing base in Zhuhai, a China headquarters in Shenzhen, marinas and supporting research, operations and bonded maintenance centres in the Greater Bay Area.
In March 2026, a cooperation agreement with Dalian covered a yacht manufacturing and operations project with a stated total investment of 15 billion yuan. Plans there are understood to include customised large-yacht production, component development and a service homeport.
A Dalian subsidiary was registered in May, followed by a Qingdao branch in July covering sales, leasing and maritime support.
Sea Expandary also acquired an 80% stake in Fujian-based Oceanwalker Yachts in August. Oceanwalker, established in December 2022, produces catamarans and monohull flybridge yachts.
The acquisition added existing manufacturing capacity to the group’s planned developments.
