Chinese entrepreneur to launch a brand of affordable yachts

Richard Liu, the founder of Chinese online retail giant JD.com, is investing over $700 million in affordable, eco-friendly yachts. He recently announced the launch of a new yacht brand called Sea Expandary.

The brand will be headquartered in Shenzhen, with its production base in Zhuhai. Sea Expandary plans to cover everything from research and development to manufacturing, sales, marina management, and after-sales service. The yachts will be environmentally friendly, using energy-saving technology, wind power, and solar panels. The company also plans to use artificial intelligence and robotics in its designs. Features mentioned include intelligent rescue systems and fully electric engines to reduce noise and vibration.

Liu compared the future of yachting to the evolution of the car industry. “I hope we can one day build yachts priced at 100,000 yuan (US$14,502) so they can enter households like cars do,” Liu told reporters at the signing event. “Yachts should be affordable for ordinary salaried workers and everyday consumers.”

The exact details of what these affordable yachts would look like have not been revealed. However, the brand is said to already have secured orders for five 72 m catamarans from overseas clients. Liu will not be involved in the day-to-day management of the project, as he remains focused on JD.com, but he plans to provide long-term investment for the brand.

Who is Richard Liu

Liu founded JD Multimedia in Beijing in 1998. By 2003, his business had grown to 12 stores. During the SARS outbreak, when fewer people visited physical stores, he moved his business online and launched JD.com in 2004. In 2007, JD.com expanded beyond electronics to offer a wider range of products, which helped it grow its market share.

In May 2014, JD.com had its IPO on the Nasdaq, raising $1.78 billion. At the time, it was the largest IPO by a Chinese internet company in New York. In 2015, Fortune magazine named Liu one of the "50 Greatest Leaders in the World."

In April 2024, JD.com introduced an AI avatar of Liu for livestreaming. The avatar drew over 20 million views in its first hour and generated 50 million yuan in sales. As of 2025, JD.com is one of the largest internet companies in the world and the biggest e-commerce company in China.

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