Core Insights - Weihai City is experiencing significant growth in the yacht industry, leveraging its unique marine resources and strong industrial foundation, with a global market presence in over 60 countries and an industry chain output value consistently above 1 billion yuan [1][5]. Company Overview - Xigang Yacht Company has successfully transitioned to the yacht industry since 2005, focusing on high-end luxury yachts and achieving breakthroughs in composite material manufacturing technology [2][3]. - The company has developed the largest domestic composite material luxury yacht, a 115-foot model, showcasing its advanced design and manufacturing capabilities [2][3]. - Xigang Yacht Company has a diverse product line, including leisure fishing boats, sailboats, patrol boats, and new energy vessels, with over 30 specifications across 8 series [2][3]. Market Performance - In 2024, Xigang Yacht Company delivered over 60 vessels, doubling its order volume from the previous year, indicating strong market demand [3]. - The company primarily focuses on customized orders, with 90% of total orders being tailored to customer specifications, reflecting a strong customer-centric approach [4][5]. - Weihai's fishing boat production accounts for over 90% of the national output, with the city being a significant player in the domestic yacht market [5]. Industry Development - Weihai's yacht industry is supported by local government initiatives, including financial support for R&D and infrastructure development, enhancing the overall industry environment [6][7]. - The city has established modern yacht marinas and clubs, facilitating yacht operations and enhancing tourism experiences [6][7]. - Various yacht events have been hosted in Weihai, boosting the city's visibility and promoting the integration of the yacht and tourism industries [7]. Future Outlook - The yacht industry in Weihai is expected to grow further, driven by increasing national emphasis on marine economy and rising consumer demand for leisure tourism [7]. - The company plans to explore innovations in smart and unmanned technologies, aiming to transition yachts from luxury items to more accessible leisure products [7].