Liu Qiangdong officially announces the construction of a yacht! Signs agreements with governments in Shenzhen and other regions

February 24th, the first day of resuming work for the New Spring, Liu Qiangdong’s newly established independent yacht brand Sea Expandary signed a strategic cooperation agreement with the governments of Shenzhen, Zhuhai, and other regions.

When asked why he entered the yacht industry, Liu Qiangdong mentioned his “shipman” gene: “Our family has been shipmen for over a hundred years. I have a special connection to ships. Even today, I sleep best on a ship. When I graduated from elementary school, my biggest dream was to become a captain. Later, in middle school, I still hoped to be a captain. That has been my childhood dream.”

Liu Qiangdong also stated that his investment in Sea Expandary is purely personal and he will not be directly involved in operations and management. “We have a CEO and a complete management team. I am at most a product manager.” Regarding the investment, Liu Qiangdong said that domestic yacht companies have small and scattered investments, with almost no yacht manufacturing company investing more than 10 million yuan. This time, his investment is 5 billion yuan, which allows him to compete with top global companies.

It is understood that Sea Expandary plans to invest in building a yacht manufacturing base in Zhuhai and establish the Chinese headquarters for the yacht business in Shenzhen, participating in the construction and operation of multiple docks and supporting facilities in Shenzhen. Additionally, Sea Expandary will set up R&D innovation centers, yacht operation service centers, bonded maintenance centers, and other supporting institutions in the Greater Bay Area.

Sea Expandary will focus on new energy intelligent yachts, aiming to promote China’s yacht industry to achieve a “green” and “smart manufacturing” edge, and fill a gap in China’s civilian shipbuilding sector.

Focusing on new energy intelligent yachts,布局 in Shenzhen and Zhuhai

Public information shows that the official website se.360cec.com and corporate email info@seaexpandary.com of Liu Qiangdong’s yacht brand Sea Expandary are now online. According to the website, Sea Expandary aims to be a leading global green intelligent yacht ecosystem, serving the worldwide market by building a full-chain yacht industry integrating R&D, manufacturing, global sales, yacht club services, and ocean exploration services, providing top-tier products and services to global yacht customers.

The website states that the brand will mainly produce new energy intelligent yachts, utilizing AI and robotics technology to create safer, smarter, quieter, environmentally friendly, and more comfortable yachts.

“We want to redefine the yacht industry,” Liu Qiangdong told N Video. “All the yachts launched by Sea Expandary are new energy small boats. Most yacht enthusiasts work Monday through Friday, and only have weekends to play. So we hope to use wind and solar energy for natural charging during the five days. By Saturday and Sunday, there will be enough power for use.”

Liu Qiangdong also expressed hope that future yachts will have no captain or chef, only service and security personnel, providing maximum freedom for guests onboard. For safety, each room and area on the yacht will be equipped with modern intelligent self-rescue devices, ensuring that any crew member can survive for 8 hours in extreme situations.

Regarding comfort, Liu Qiangdong revealed that Sea Expandary’s yachts will not use any gearboxes, only electric propulsion, because electric propulsion is ultra-quiet with almost zero vibration.

Currently, Sea Expandary has multiple companies involved in yacht R&D, manufacturing, sales, and operation. On the first day after the holiday, they signed cooperation agreements with Zhuhai, Shenzhen, and other regions.

In Zhuhai, Sea Expandary will invest in building a modern, intelligent yacht manufacturing base, focusing on R&D and manufacturing in new energy propulsion technology, intelligent driving systems, new materials, and interior design. The goal is to establish a demonstration base for the yacht industry that is rooted in the Guangdong-Hong Kong-Macao Greater Bay Area, radiates globally, and has international influence.

In Shenzhen, Sea Expandary is expected to set up the Chinese headquarters for the yacht business, overseeing domestic yacht operations, brand management, supply chain coordination, high-end talent recruitment, and international market expansion. They will also participate in the construction and operation of multiple docks and supporting facilities in Shenzhen, cultivating a “Yacht+” industry.

Regarding their investment in Guangdong, Liu Qiangdong said that besides the manufacturing base, supply chain, logistics, and talent advantages, Guangdong’s internationalization is also attractive. “Initially, to ensure yacht quality, we need a large number of employees from outside the region. Guangdong is also a place many foreigners like to visit.”

Received 5 large yacht orders, rapid growth in the domestic yacht market

It is noteworthy that behind this new investment is the rapidly growing domestic yacht market. Data from the Ministry of Transport shows that over the past three years, the number of yachts in China has increased significantly, with about 54.7% of newly registered yachts. By the end of 2025, there will be approximately 9,850 registered yachts in China, and this growth trend is expected to continue during the 14th Five-Year Plan period.

However, there is a stark contrast between demand and the current state of China’s yacht manufacturing industry. While China’s shipbuilding industry has established a dominant position globally in oil tankers, cargo ships, and container ships, the development of large ships versus small ships is severely unbalanced. China’s yacht manufacturing industry remains weak: in 2024, its output value is only 12.8 billion yuan, with exports of just 600 million USD. The industry is fragmented, with a “small, scattered, weak” structure that prevents companies from making large-scale investments in R&D, design, and global marketing.

Statistics show that China’s share of the global yacht manufacturing market is less than 4%, far below Italy, the Netherlands, and Germany. However, as China’s shipbuilding industry has formed a complete industrial chain, Liu Qiangdong may fill the gap in the civilian ship sector.

Liu Qiangdong revealed that after communicating his ideas with many foreign friends and based on their trust in him, he has already received five orders for large yachts—72-meter catamarans, each selling for an average of 60 million euros. “But manufacturing is different from the internet; it may take ten or twenty years. You need to use your quality, technology, and environmental friendliness to gain recognition from consumers worldwide.”

He also mentioned that with China’s economic development, the country is destined to become a maritime power, which must have a strong maritime culture. “Today, most of our children have never been to an aquarium or on a yacht during their growth. If they never experience being on a boat, it’s hard to cultivate their maritime culture, love, protection, or exploration of the ocean. So I believe the development of yachts is also crucial for shaping China’s maritime culture.”

Recently, many policies encouraging the yacht industry have been issued domestically. At the end of January, the General Office of the State Council issued the “Work Plan for Accelerating the Cultivation of New Growth Points in Service Consumption,” which prominently promotes “high-quality development of yacht consumption.” At a subsequent press conference, the Ministry of Transport announced that it is accelerating the research and formulation of “Measures to Expand Yacht Consumption.” Prior to this, multiple ministries issued supporting documents such as the “Implementation Opinions on Accelerating the Development of Cruise and Yacht Equipment and Industry.” Several regions including Hainan, Guangdong, Jiangsu, and Fujian have also introduced local policies to encourage the yacht industry, aiming to make it a new “business card” for local economies.

An industry insider pointed out that the establishment of the domestic yacht brand Sea Expandary could fill the gap in China’s civilian shipbuilding sector and, by leveraging green and intelligent technologies, break the dominance of overseas giants in the yacht market, lower the threshold for yacht consumption, and promote the industry toward mass and large-scale development.