FIH responds to claims of "obstructing Faraday's growth plan": in fact, this is not true

March 9 News, Ferretti International Holding S.p.A. (“FIH”), a wholly owned subsidiary of Weichai Group and the controlling shareholder of Ferretti Group, responds to recent media reports and analyst comments that contain false and misleading descriptions of Weichai Group/FIH.

Since 2012, Weichai Group has been a long-term strategic investor in Ferretti Group. At that time, the company was on the brink of bankruptcy, with revenues of approximately €300 million and significant losses. During its holding period, Weichai Group invested about €470 million in Ferretti Group, providing vital support for the company’s recovery of sustainable profitability and establishing its position as a leading global luxury yacht manufacturer. In 2025, Ferretti Group achieved revenues of approximately €1.23 billion, a net profit of around €90 million, and maintained strong order backlogs, offering good visibility for revenue growth in the coming years.

Weichai Group/FIH has consistently supported Ferretti Group in seeking value-creating development opportunities, including organic growth, business expansion, and selective acquisitions. The company listed on the Hong Kong Stock Exchange and the Pan-European Milan Stock Exchange in 2022 and 2023, respectively, becoming the first Italian luxury yacht manufacturer to be listed on both markets simultaneously. Additionally, the company continues to expand its manufacturing footprint in Italy, acquiring and developing the San Vitale shipyard complex in Ravenna between 2023 and 2024, with an investment of approximately €140 million. This facility is now the largest production base within Ferretti Group, covering about 100,000 square meters, increasing production capacity by approximately 30%, and further demonstrating the company’s commitment to Italian craftsmanship and industrial heritage. Claims that Weichai Group/FIH has obstructed or hindered the company’s growth plans are unfounded and baseless.

Ferretti Group is also listed on the Hong Kong Stock Exchange and the Pan-European Milan Stock Exchange, and must comply with the corporate governance frameworks and regulatory requirements of both markets. Strategic decisions are to be made by the duly constituted Board of Directors and/or the CEO in accordance with applicable laws, listing rules, and the company’s articles of association, taking into account the interests of all shareholders. The company has established a corporate governance structure aligned with best practices domestically and internationally, guided by the Principles and Recommendations set out in the “Code of Corporate Governance” and Appendix C1 of the listing rules.

As a shareholder, FIH exercises its rights through proper corporate governance procedures. FIH does not unilaterally direct or restrict management decisions; any contrary statements distort the actual governance structure of the listed company.

FIH notes that recent media comments and analyst reports involve judgments regarding the potential outcomes of KKCG Maritime’s ongoing voluntary conditional partial takeover bid, predictions about shareholder voting intentions at the upcoming annual general meeting, and prospects for the company’s future strategic direction in the event of a board restructuring. FIH considers it necessary to point out that such comments issued during the offer period are based on sources and factual grounds that are seriously questionable, raising concerns about the appropriateness of publishing such content within the context of a regulated takeover process.

FIH reserves all rights regarding the above matters.