Company leaders and government officials attend the listing ceremony for Ferretti Group on March 31 in Jinan, capital of Shandong province. [Photo provided to chinadaily.com.cn]

Italian luxury yacht maker Ferretti Group, which is owned by Chinese diesel engine giant Weichai Group, was listed on the Hong Kong Stock Exchange on March 31. The listing ceremony was held both online and offline in Jinan, capital of Shandong province, Hong Kong, South China, and Sarnico, Italy.

Company leaders, government officials and media outlets attended the listing ceremony.

As the oldest Italian super yacht brand, Ferretti occupies an important position in leading the development of the global industry, said Tan Xuguang, chairman of Weichai Group.

Tan Xuguang, chairman of Weichai Group, delivers a speech at Ferretti Group's listing ceremony on March 31. [Photo provided to chinadaily.com.cn]

"Weichai has always been Ferretti's staunch strategic partner. We will jointly grasp the strategic opportunities in the global yacht market, especially in the Asia-Pacific market, to boost the development of China's marine economy and consumption upgrading, and let Ferretti sail to a better future," Tan said.

Ling Wen, vice-governor of Shandong, congratulated Ferretti on its successful listing and sincerely hoped that Ferretti would take this listing as an opportunity to make full use of the advantages of the Hong Kong capital platform and continue to maintain its leading technological innovation, creative value and brand service.

Ling also expressed hope that the strategic cooperation between Weichai and Ferretti will grow stronger over time and play a bigger role in economic development and consumption upgrading in Shandong and China.

A model of a Ferretti luxury yacht is on display at the listing ceremony. [Photo provided to chinadaily.com.cn]

Ferretti, whose brands include Riva, Pershing and Wally, is owned by Chinese conglomerate Weichai Group, which is based in Weifang, Shandong province.

Ferretti posted a nearly six-fold jump in net profit in the first nine months of last year from the same period in 2020 to 32.1 million euro (about $35.3 million), according to its prospectus. Its revenue surged 62.9 percent to 693.3 million euro over the period.