Give or treat yourself to a subscription to Boats in Motion print + digital and for only 39 euros a year you get the magazine at home plus read it on your PC, smartphone and tablet. With a sea of advantages.
Uncertain times for the Ferretti Group.
Chairman Tan Xuguang has resigned due to age limits, and there are consistent rumors of a possible withdrawal of the Chinese holding company Weichai from the company’s capital.
Why is the idyll with the Chinese giant that saved it from bankruptcy in 2012 over? The Ferretti Group may be at a turning point and may face turbulent waters in the coming months.
Ahead of the presentation of half-year figures set for Thursday, August 29, the Forlì-headquartered company is affected by rumors of a possible divestment by its majority shareholder, the Beijing-controlled Weichai giant, which currently holds 37.5 percent of the capital.
Meanwhile, Tan Xuguang himself, chairman of Weichai, at age 63, has resigned from all his positions due to age limit.
Recall that in 2012, it was precisely “Chairman Tan” and the Shandong Heavy Industry Group (Shig)-Weichai holding company, one of China’s largest diesel engine and heavy vehicle manufacturers, that had been the strongest proponents of the Ferretti Group’s rescue from bankruptcy.
The acquisition by the Chinese holding company had enabled the revival of a company that in recent years had become a world leader in the design, construction, and sale of luxury motor and pleasure yachts.
Xuguang himself, moreover, had reiterated that he would sustain the Forli shipyard for at least 300 years!
Why then this sudden reversal?
And what will now become of the prestigious Ferretti Group? 
It seems that behind the decision of the Chinese giant’s spill of capital shares was the withdrawal in 2024 of two resolutions on a buyback and cancellation of treasury shares up to a maximum of 10 percent due to the exercise of “Golden Power” by the Italian state.
“Golden Power” is a regulatory tool that allows the government of a country to block or attach special conditions to specific financial transactions that fall within the national interest.
Ferretti was apparently subjected to the “Golden Power” regulation because of certain technologies in the area of security and defense developed by the Ferretti Security Division, which makes vessels difficult to trace.
The Italian government’s decision has reportedly effectively angered the state-owned giant Weichai, and fears over further restrictions have prompted the Chinese major shareholder to turn around.
At the moment it is unclear whether that of the Chinese is a decision already made or a veiled threat that nevertheless seems to confirm a situation of friction and uncertainty.
Ferretti Group, which is listed on the stock exchange in both Hong Kong and Milan, after the resignation of its Chinese chairman may now decide to appoint a new top management immediately or appoint an “interim” figure to perform certain functions, pending the assumption of office by a new chairman.
The new figure could be Piero Ferrari, a minority shareholder.
For the rest, at the moment all possible scenarios for the Italian group are open: Weichai’s final exit from Ferretti with the sale of the majority stake to a new buyer agreeable to the Chinese giant or a takeover by minority shareholders or a group of Italian and European entrepreneurs interested in taking over a solid and internationally competitive company.
The Bombassei family, for example, which controls the legendary Brembo, has bought more Ferretti shares in the Hong Kong marketplace, with rumors of movements by other leading Italian entrepreneurs as well. 
Despite the current situation of uncertainty, it must be said that as of today the Ferretti Group’s shareholding structure, minus the free float capital which is 42.61, has Weichai (37.54 percent), Karel Komarek’s Valea Foundation (10.01 percent), Danilo Iervolino (5.28 percent) and Piero Ferrari (4.56 percent) among its main investors.
The company exports to more than 70 countries, with a direct presence in Europe, Asia, and the U.S., and operates seven shipyards in Italy: Ancona, Cattolica, Mondolfo (Pesaro-Urbino), Sarnico (Bergamo), Forlì, La Spezia (completely renovated in May), and Ravenna (with the new slipway to be operational in the first half of 2025).
The Group’s order book exceeds 1.6 billion euros, up more than 10 percent from December 31, 2023.
In short, everything is going swimmingly.
But for how much longer? David Ingiosi
Sign up for our Newsletter
Powerboats, its stories, from small open to motoryachts. Sign up now for our free newsletter and receive the best news selected by the editorial staff each week. Enter your email below, agree to the Privacy Policy and click the “sign me up” button.
The Düsseldorf Boot is not yet over that people are already starting to talk about the boats that will be presented to the public at the fall shows. Among them, Rio Yachts, a historic brand that just in 2026 celebrates
Let’s take a step back and look at the 1960s. For motor boating it is a magical time; the technological innovations developed during the World War and improved in the previous decade are finally applied on a large scale, and
This year’s Boot Düsseldorf was packed with new products. Among several this one caught our attention and we climbed aboard for you. Kumbra 34 is a walkaround on the edge of the watercraft category, with sporty but still understated and
Welcome to the special Classic Boat Archive section, where Boats by Motor opens for you its paper archive where hundreds and hundreds of boats we have tested, presented and reviewed in the magazine’s more than 35-year history are kept.
