MILAN, March 9, 2026 /PRNewswire/ -- Ferretti International Holding S.p.A. ("FIH"), a wholly-owned subsidiary of Weichai Group and controlling shareholder of Ferretti S.p.A. (HKEX: 9638 / Euronext Milan: YACHT) ("Ferretti Group" or the "Company"), wishes to address certain inaccurate and misleading characterisations of Weichai Group / FIH that have appeared in recent media reporting and analyst commentary.
Weichai Group / FIH's Commitment to Ferretti Group's Growth
Weichai Group has been a long-term strategic investor in Ferretti Group since 2012, when the Company was on the verge of insolvency with revenues of approximately €300 million and significant losses. Over the course of its shareholding, Weichai Group has made, in aggregate, approximately €470 million in investments in Ferretti Group, underpinning the Company's return to sustainable profitability and its standing as a leading player in the global luxury yacht industry. In 2025, Ferretti Group generated revenues of approximately €1.23 billion and a net profit of approximately €90 million, with a strong order backlog providing multi-year revenue visibility.
Weichai Group / FIH have at all times supported, and continue to support, Ferretti Group's pursuit of value-creating opportunities, including organic growth, business expansion and selective mergers and acquisitions. The Company completed its listings on the Hong Kong Stock Exchange in 2022 and Euronext Milan in 2023, becoming the first Italian luxury yacht manufacturer listed on both markets. The Company has also continuously expanded its Italian manufacturing footprint, most recently through the acquisition and development of the San Vitale shipyard complex in Ravenna during 2023 and 2024, now the largest production facility within the Ferretti Group, with investment of approximately €140 million. The complex now spans approximately 100,000 square metres, increasing production capacity by approximately 30% and reinforcing its commitment to Italian craftsmanship and industrial heritage. The suggestion that Weichai Group / FIH has prevented or obstructed the Company from pursuing growth initiatives is factually incorrect and without foundation.
Ferretti Group's Governance
Ferretti Group is a company listed on both the Hong Kong Stock Exchange and Euronext Milan, subject to the governance frameworks and regulatory requirements of both markets. Strategic decisions of the Company are, and must be, made through its properly constituted board of directors and/or the CEO in accordance with applicable laws, listing rules and the Company's constitutional documents, having regard to the interests of all shareholders. The Company has adopted a corporate governance system in line with national and international best practices, inspired by the principles and recommendations of the Corporate Governance Code and Appendix C1 to the Listing Rules.
FIH, as a shareholder, exercises its rights through proper corporate governance channels. It does not act unilaterally to direct or constrain the Company's management, and any characterisation to the contrary misrepresents the governance structure of a publicly listed company.
Commentary During the Offer Period
FIH notes that certain recent media and analyst commentary has included observations on the likely outcome of the ongoing voluntary conditional partial offer by KKCG Maritime, on prospective shareholder voting intentions at the forthcoming annual general meeting, and on the anticipated strategic direction of the Company under a reconstituted board. FIH considers it necessary to note that such commentary, published during the offer period, raises serious questions as to the source and basis of the information relied upon, and whether the content of such commentary is appropriate in the context of a regulated offer process.
FIH reserves all rights in connection with the foregoing.
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This communication does not constitute, nor is it intended to constitute, an offer, invitation or solicitation to buy or otherwise acquire, subscribe, sell or otherwise dispose of financial instruments. The publication or dissemination of this communication in countries other than Italy and Hong Kong may be subject to restrictions under applicable law, and therefore any person subject to the laws of any country other than Italy or Hong Kong should independently obtain information about any restrictions under applicable laws and regulations and ensure that they comply with them. Any failure to comply with such restrictions may constitute a violation of the applicable law of the relevant country. This notice has been prepared in accordance with the laws of Italy and Hong Kong and the information disclosed herein may be different from that which would have been disclosed had the notice been prepared in accordance with the laws of countries other than Italy and Hong Kong. No copy of this communication shall be, nor may be, sent by mail or otherwise transmitted or distributed in any or all countries where the provisions of local law may give rise to civil, criminal or regulatory risks if information concerning the present press release is transmitted or made available to shareholders of the Company in such country or any other country where such conduct would constitute a violation of the laws of such country and any person receiving such documents (including as custodian or trustee) is required not to mail or otherwise transmit or distribute the same to or from any such country.
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