Ten years of chart to break the wall Tan Xuguang for the global superyacht to install China's "power heart"

On the last day of March 2022, with the ringing of the gong of listing, Ferretti, italy's oldest and most prestigious superyacht production enterprise, successfully landed on the Hong Kong Stock Exchange for trading, using the Xiangjiang River as a bridgehead to sail to the vast capital "ocean".

Superyachts loaded with China's "power heart"

Founded in 1968, Ferretti is a recognized leader in the global superyacht industry and a trendsetter in the industry. The man at the helm of Italy's top luxury goods company is Chinese entrepreneur Tan Xuguang, chairman of Weichai Group.

Affected by the financial crisis, In 2009 Ferretti was forced to reorganize. At that time, Tan Xuguang tried overseas mergers and acquisitions for the first time, included the French Baudouin Marine Engine Company under his command, and got the "stepping stone" to enter the global high-end ship market. After reorganizing Baudouin, Tan Xuguang found that most of the boat machines it produced were equipped with yachts. Therefore, we began to look at the yacht industry downstream.

In 2010, China proposed the "Blue Ocean" development strategy, and the marine economy was in the ascendant. Ferretti's "stranding" made Tan Xuguang's eyes light up. The acquisition of a global superyacht company to expand into China seems opportune. After many communications and negotiations, In 2012, Weichai Group acquired a 75% controlling stake in Ferretti for 374 million euros.

Taking advantage of ferretti yachts' popularity and perfect sales channels, Weichai has entered the global high-end consumption field in one fell swoop. After the "takeover" of Tan Xuguang, in only 4 years, Ferretti turned a profit in 2016 and achieved steady growth in net profit.

Ferretti is the world's largest superyacht manufacturer, with the world's most advanced boat development center and first-class industrial design team, as well as a global supplier system of more than 800 suppliers and the world's most advanced yacht manufacturing system.

Taking the power system as the core, extending and expanding to terminal products, and then controlling the complete industrial chain, this is the development path that Weichai has explored over the years. The yacht's engine is a heavy-duty high-speed engine, which is highly compatible with Weichai's engine business. With Ferretti, Weichai's products can expand to the field of high-end boats, and at the same time, they can force its original ship propulsion system technology upgrade.

Ten years of strong and powerful combination, the end of the fruit. On the basis of the acquisition of ship propulsion technology of The French Baudouin Company, Weichai has successfully developed a new generation of high-end and intelligent yacht engines relying on strong R&D resources at home and abroad, filling the gap in China's technology and business in this field, and creating a surging and strong Chinese "power heart" for global superyachts. In 2021, as a major integrator of Weichai's scientific and technological innovation, Weichai's WP13F high-end yacht powertrain made a stunning appearance at the National "13th Five-Year Plan" Scientific and Technological Achievements Exhibition. Advanced design, excellent performance indicators, comparable to the international level of the most advanced technology, has won the recognition of industry experts. Once unveiled, it is of extraordinary significance, and Weichai's high-end yacht engine has deeply branded the mark of national pride and industry praise.

With the "double carbon" and "development of green economy" becoming the consensus of major economies around the world, the development of the new energy industry chain is the general trend. As early as a few years ago, Weichai and Ferretti carried out cooperation and exploration in the field of new energy. It is reported that Weichai has completed a comprehensive layout in the hybrid and hydrogen fuel cell power system, reserves the world's leading products and technologies, and can adapt to Ferretti's multiple product platforms to provide it with a reliable Chinese new energy "power core".

In the future, as Weichai's multi-energy yacht power continues to be introduced to the market, it can be said that Tan Xuguang is using core technology to enhance the voice of Chinese enterprises in the global yacht market.

Alone and courageous, the king of land power dominates the sea

Ten years of breaking the wall, Tan Xuguang not only pushed the "Rolls-Royce" Ferretti in the yacht industry to the broad capital market, but also successfully created a high-end yacht engine through technical forcing, open collaboration and positive innovation.

Why is Tan Xuguang so obsessed with the engine? He once said that diesel runs in my blood.

Tan Xuguang defines life with dreams, and strives for China's "power heart" like a "madman". In 1977, Tan Xuguang entered Weifang Diesel Engine Factory, and his first job was to be a product tester, participating in the research and development and trial production of tank diesel engines in the mainland.

"The key core technology is the country's heavy weapon and the lifeblood of the enterprise, and it must be firmly in its own hands." The long-term tempering in the front line of technical research has made Tan Xuguang have a deep understanding of scientific and technological innovation. Once upon a time, Weichai did not have an engine product with completely independent intellectual property rights, which was looked down upon by advanced enterprises in developed countries.

In 1998, Tan Xuguang began to serve as the main person in charge of Weichai, along the way, he fought with himself, fought with the lack of core technology, and fought with the domestic and international markets... Created the world's first independent heavy-duty commercial vehicle powertrain R & D and manufacturing base, conquered the key core technology of the powertrain of heavy-duty commercial vehicles; presided over the development of the mainland's first self-owned heavy-duty high-speed diesel engine, conquered the core technologies such as electronic control and reliability; broke through the core technical problems of multi-field power systems, made up for the key technical shortcomings of high-end hydraulics, large-scale agricultural equipment CVT and other industries; released the world's first diesel engine with thermal efficiency exceeding 50%, and raised the record to 51.09%. Twice topped the world's technological peaks.

In 2021, Weichai's total engine sales exceeded 1 million units for two consecutive years, making it the world's largest diesel engine production and manufacturing base. Tan Xuguang single-handedly created a multi-dynamic kingdom.

Conquer not only the land, but also the sea and dominate the sea. Is it difficult? It's hard! The engine is the "heart" of the yacht, and the superyacht has extremely high requirements for engine dynamics, speed and other performance. At present, only old European engine companies such as MAN and MTU can provide corresponding power systems.

In the yacht market, especially superyachts, foreign brands have been entrenched for many years. War? Battle! To borrow the lyrics of the most popular song "Lonely Warrior": With the loneliest dream, to the whimpering and roaring in the night! Ten years of lonely courage to move forward, holding the two major killers of Baudouan and Ferretti, and pointing to the power of high-end yachts, Weichai's commercial territory has achieved a great leap from land to sea.

On March 31, a gong sounded, and Ferretti, who was given the mission of "9638.HK" capital, rode the wind and waves to sail to the vast market. In the future, Weichai's high-end yacht power will also be coordinated and strong to the sea, injecting surging Chinese power into the glory of Ferretti.

Lightning News reporter Zhou Yingchun reported