Core Insights - Richard Liu, founder of JD.com, has launched a new yacht brand named Sea Expandary, focusing on creating "100% green" yachts that are affordable for ordinary households [1] - Liu is investing 5 billion yuan (approximately $690 million) into Sea Expandary to compete with leading yacht manufacturers globally [1] - The brand will not be managed by Liu on a day-to-day basis, as he intends to focus primarily on JD.com [1] Company Developments - Sea Expandary will encompass research and development, manufacturing, sales, and other services [1] - The company plans to establish a manufacturing base in Zhuhai and its headquarters in Shenzhen, where it will also engage in the construction and operation of multiple marinas [1] - Strategic cooperation agreements have been signed with the Shenzhen and Zhuhai governments to support the brand's initiatives [1] Industry Context - China's yacht fleet has nearly doubled from around 4,500 to almost 10,000 in the past three years, indicating significant growth in the leisure boating market [1] - The rapid economic growth in China has led to a larger urban middle class and an increasing number of high net-worth individuals, fostering demand for premium leisure goods and experiences [1]