A land auction in Haitang Bay, Sanya, has brought He Miaojun's strategic plans for Hainan into the spotlight.
On May 8, the highly anticipated HT08-09-02 plot in Haitang Bay, Sanya, was successfully auctioned. The winning bidder, Hainan Xingju Jiayuan Real Estate Co., Ltd., secured the land for 681 million yuan. According to the listing requirements, the plot is designated for the development of a commercial project integrating esports, sports, culture, and tourism, with a committed total investment of no less than 1.4 billion yuan.
Behind Hainan Xingju Jiayuan Real Estate stands the capital influence of He Miaojun, son of the renowned "gambling king." Business registration information reveals that the controlling shareholder of Hainan Xingju Jiayuan Real Estate is Ningxia Xinjiayuan Group Real Estate Development Co., Ltd. Additionally, Hainan Xingjing Weiwu Culture and Sports Development Co., Ltd. and Hainan Huanju Commercial Investment Co., Ltd. hold 20% and 10% stakes, respectively. Both companies are ultimately controlled by He Miaojun.
"Born from the sea, the first battle is won. Warm congratulations to Xingjing Weiwu & Huanju Commercial on the successful land acquisition," announced Huanju Commercial on its official public account on the day of the purchase.
This seemingly routine land acquisition represents a crucial step in He Miaojun's strategic bet on Hainan. Just a year ago, he completed the takeover of Huanju Commercial, founded by Wang Sicong. Now, with this substantial investment in Sanya, the cultural tourism and commercial blueprint of this post-95s scion is becoming increasingly clear.
The project is planned as an esports cultural tourism development with an investment commitment of no less than 1.4 billion yuan. In fact, from the initial listing of this core Haitang Bay plot, market speculation pointed towards He Miaojan's potential involvement.
According to the listing information, the HT08-09-02 plot in the National Coastal Area of Haitang Bay covers an area of 73,969.8 square meters with a plot ratio of ≤1.2, allowing for a maximum planned gross floor area of 88,764 square meters. The plot is located in the core section of the Haitang Bay National Coast. The starting auction price was 681.47 million yuan, translating to an initial land price per square meter of approximately 7,677 yuan.
Notably, the conditions for the land transfer were quite "stringent." The listing requirements stipulated that the plot must be developed into a commercial project integrating esports, sports, culture, and tourism. The bidder or its affiliated enterprise must be a listed company with experience in organizing international or national-level esports events in the past five years. Furthermore, a commitment to a total project investment of no less than 1.4 billion yuan was required.
These requirements closely align with the "Weilan Power Sports and Leisure Resort" project that He Miaojun's NIP Group Inc. (NASDAQ: NIPG) previously signed in Sanya. NIP Group Inc. (NASDAQ: NIPG), founded by He Miaojun, went public in the US in 2024 as "China's first listed esports company." According to Hainan Daily reports, this HT08-09-02 plot will serve as the core construction land for NIP Group's Sanya Sports and Leisure Resort project.
On October 14, 2025, NIP Group Inc., Huanju Commercial Management Co., Ltd., and Sanya, Hainan, signed a cooperation agreement for the "Sanya Weilan Power Sports and Leisure Resort" project, with He Miaojun also present at the signing ceremony. The agreement outlined plans for NIP Group to develop the "Weilan Power Sports and Leisure Resort" in Sanya, integrating top-tier esports, diverse sports, and trendy entertainment. The project is expected to generate an average annual output value exceeding 1.1 billion yuan upon completion and operation. From signing to land acquisition, the process took only about half a year.
"Entrusting the highly significant first step to Sanya Haitang Bay is both our active response to the construction of the Hainan Free Trade Port and a sincere commitment to our deep cultivation in the cultural tourism and commercial sector," stated Huanju Commercial on its public account.
Information from local Sanya real estate professionals indicates the plot has prominent locational advantages. The surrounding area not only features high-end residential projects like China Resources Haitang Yuefu, a top-selling "red-hot" property, but also clusters several five-star resort hotels, including Banyan Tree Sanya and Mangrove Tree Resort. This concentration of high-spending vacationers and young tourists aligns well with the target demographic for an esports cultural tourism project.
The move to develop an esports cultural tourism project in Sanya is not a sudden decision for He Miaojun. Over the past year, the son of the "gambling king" has been deepening his ties with Hainan Island.
On December 18, 2025, the official island-wide customs closure operation of the Hainan Free Trade Port commenced. On the same day, Hainan Huanju Commercial Investment Co., Ltd., under NIP Group, officially established its presence in the Sanya Demonstration Zone for Hainan-Hong Kong Economic Cooperation, marking the substantive operational start of Huanju Commercial Management in Sanya.
On January 28 this year, He Miaojun appeared in a new role as a member of the Hainan Provincial Committee of the Chinese People's Political Consultative Conference (CPPCC).
After assuming his role as a CPPCC member for Hainan Province, He Miaojun stated in an interview with China Central Television (CCTV), "From a business perspective, like people across the country, I was very focused last year on the launch of the island-wide customs closure operation. From a policy standpoint, Hainan Island is undoubtedly a very favorable investment opportunity." He Miaojun added frankly, "I don't want to (later) complain that I missed out on Hainan."
Clearly, He Miaojun is betting on the immense potential arising from the opening up of trade, investment, and consumption across the entire island following Hainan's customs closure.
It is worth noting that behind these various moves, the presence of "Huanju Commercial" is significant. In June 2025, He Miaojun participated in a press conference in his capacity as Chairman of Beijing Huanju Commercial Management Co., Ltd. That same month, a major equity change occurred at Beijing Huanju Commercial Management Co., Ltd. (hereinafter referred to as "Beijing Huanju"). Wuhan Xingjing Weiwu Culture and Sports Development Co., Ltd., controlled by He Miaojun, acquired a 40% stake, becoming the largest shareholder and formally completing the takeover of this cultural tourism and commercial management platform.
Public information shows that the company's chairman was Wang Sicong, son of former mainland China's richest man, Wang Jianlin. Wang Sicong founded Beijing Huanju Commercial Management Co., Ltd. in July 2023 and had previously deployed cultural tourism projects in cities like Jinan and Tai'an. According to previous disclosures by Huanju Commercial Management, the company managed assets exceeding 6 billion yuan, with over 70 projects, more than 100 offline stores, and business formats covering cultural tourism, commerce, experiential consumption, and nightlife entertainment.
This extensive experience in cultural tourism project planning, investment attraction, and operation precisely addresses the "shortcomings" of NIP Group, which has long aimed to transform from an esports business into a comprehensive digital entertainment group.
However, it appears Huanju Commercial has not completely severed ties with Wang Sicong. Business registration inquiries reveal that Hainan Sihuan Investment Co., Ltd. (hereinafter referred to as "Hainan Sihuan") still holds a 20% stake in Beijing Huanju. Corporate information platforms show that Ding Yi, the legal representative of Hainan Sihuan, previously held positions in several Huanju companies. During the signing of the Weilan Power project in October last year, Ding Yi appeared alongside He Miaojun as the President of Beijing Huanju Commercial.
Furthermore, Hainan Huanju Commercial Investment Co., Ltd., which participated in this land acquisition, also has Hainan Sihuan behind it, with Ding Yi serving as the company's General Manager.
From connecting with Wang Sicong and taking over Huanju to making a strategic move in Sanya, the commercial and cultural tourism landscape of this post-95s heir is steadily unfolding.
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