China’s yacht service operator HiTime has raised multi-million yuan in an angel round of financing, and the strategic investors were Sichuan Lianchuang Donglin Equity and Prosperity Investment.
Founded in 2015, HiTime sets out to promote a healthy leisure lifestyle on water. It has developed a presence in pristine waters in the Yangtze River Delta, the Pearl River Delta and Hainan Province, as well as Southeast Asia and the Mediterranean overseas.
HiTime started its operation in the southern Hainan province to take advantage of the supportive measures and preferential policies introduced by the Hainan government in 2015 to establish a yacht industry chain and turn the province into a major yachting hub and tourist destination in the Asia Pacific region.
This year, Hainan has again issued a new policy on key investment projects, and HiTime seizes the opportunity to expand its presence in Hainan ports and build yacht clubs along the Hainan coastline.
After completing this round of financing, the company will increase its market share in yacht operations at pristine domestic waters, and aims to claim 70%-100% of the yachting market at Hainan, the Yangtze River Delta and the Pearl River Delta regions. HiTime plans to become China's largest yacht service provider with enhanced products, said its founder Mr. Bo Jiang.