Weichai rejects media ‘speculation’ over Ferretti governance
Ferretti reported €1.23bn in revenue and €90m net profit for 2025
Ferretti International Holding (FIH), the holding company owned by Ferretti Group’s controlling shareholder Weichai Group, has issued a statement rejecting ‘recent media and analyst speculation’ concerning Weichai’s role in the yacht builder’s strategy and governance.
The comments follow a series of conflicts between Ferretti’s major shareholders in recent months. In January 2026, KKCG Maritime – Ferretti Group’s second-largest shareholder – launched a voluntary conditional partial tender offer. KKCG Maritime’s voluntary offer, worth up to €182m, was rejected by China’s Weichai Group.
Czech investment group KKCG had reportedly been preparing to propose a shareholder vote to oust directors with connections to Weichai Group.
In a statement issued in January, KKCG Maritime said its offer, which values the firm at around €1.2bn, “reflects the intention [of KKCG] to play a more active role in contributing to Ferretti’s development and growth.”
Ongoing tensions at Ferretti Group
Bloomberg saw an internal document sent by Weichai to its parent company, which claims that directors linked to the Chinese shareholder have been “effectively cut off from the company’s main operating environment and only carry out sporadic, superficial tasks in the Milan office.” Bloomberg reports that the same document adds that Galassi has “in effect achieved full control over Ferretti” following a recent management reshuffle.
The dispute revives friction that followed a 2024 incident in which hidden listening devices were found in Ferretti’s Milan offices. The discovery prompted two investigations by the Milan Prosecutor’s Office. Bloomberg previously reported that the bugs were discovered in offices used by Chinese executives during that period of tension.
FIH counters ‘inaccurate’ claims over potential acquisitions
In a fresh statement issued on Monday (9 March 2026), FIH states that reports suggesting it had obstructed growth initiatives or potential mergers and acquisitions involving Ferretti are inaccurate.
According to the holding company, such claims are not supported by the group’s record since its investment in the shipbuilder.
Weichai first entered Ferretti’s share capital in 2012, when the company was experiencing financial difficulties. At that time, Ferretti reported revenues of about €300m and significant losses.
FIH says capital injections totalling €470m were made in the years that followed. The group argues that these investments supported restructuring and development efforts that the group states contributed to a return to sustainable profitability.
For 2025, Ferretti reported revenues of about €1.23bn and a net profit of €90m. The group also reported an order backlog providing multi-year visibility for production.
The company’s recent development has included investment in its production infrastructure in Italy. Among the projects cited by the holding company is the acquisition and redevelopment of the San Vitale shipyard in Ravenna between 2023 and 2024.
According to FIH, the project involved an investment of around €140m and is intended to increase the yard’s production capacity by about 30 per cent.
Ferretti has also completed a dual stock market listing in recent years. The company was first listed on the Hong Kong Stock Exchange in 2022 and subsequently on Euronext Milan in 2023.
FIH’s statement also obliquely refers to speculation surrounding the partial tender offer launched by KKCG Maritime and to reports that shareholders may seek to oust directors, and queries the source of the leaked documents to Bloomberg.
The holding company notes that ‘such comments have circulated during a regulated period and stated that it reserves the right to protect its interests in the appropriate venues, while raising questions about the sources of these statements.’
