BEIJING APRIL 23, 2024 /NEWS MEDIA/ -- AT 10:00 A.M. MILAN TIME ON APRIL 22, 2024, MR. TAN XUGUANG, CHAIRMAN OF THE BOARD OF DIRECTORS OF THE FERRADI GROUP OF ITALY, WILL HOST THE FARADI GLOBAL GENERAL MEETING IN BEIJING AND ANSWER SHAREHOLDERS' QUESTIONS. TAM XUGUANG, CHAIRMAN OF THE BOARD OF DIRECTORS, BOARD MEMBERS AND GLOBAL Shareholders etc. participate online.
The meeting approved the 2023 Financial Report and Consolidated Financial Report, the Report on Remuneration Policy and Remuneration and the addition of two new Board members. According to its subsequent announcement, Ferrari reported sales revenue of €11.34 billion in 2023, up 10% year-on-year; net profit of €8350 million, up 38% year-on-year; €14.91 billion in orders, up 15% year-on-year. Net profit growth was higher than revenue growth, reaching an all-time high, and successfully returned to the Milan transaction It went public, becoming the first company in the world to double list in Hong Kong and Italy.
The Ferrari Group is one of the oldest Italian luxury yacht manufacturers in history and a recognized leader in the global luxury yacht and leisure shipping industry, with several of the world's most prestigious brands that complement each other's distinctive features and advantages. In 2008, when the financial crisis hit the world, Ferrari faced a development dilemma. In 2012, the strategic reorganization of Ferrari, the world-renowned equipment manufacturing group Weihai Group, opened a strategic cooperation journey between the two sides. With strong collaboration resources, Weichai Group has helped Ferrari quickly reverse its development momentum and move on the fast track of benign development. Mr. Tan Xuguang, Chairman of the Board of Weichai Group and Chairman of the Board of Directors of Ferrari, was also awarded the “Leonardo International Award” by the Italian Government in recognition of his outstanding contribution to the strategic restructuring of Faraday and the PRC.
At the conference, shareholders were fully satisfied with the rapid development of Ferrari and look forward to maintaining its position as a global yacht industry leader and expanding its leading edge in the industry in the future. Wai Chai Group will support Ferrari's development as always, and together make Ferrari an undisputed shining pearl in the global yachting industry, Mr Tan said.