FDB Holdings Limited released its unaudited interim results for the six months ended 30 June 2026, highlighting a sharp contraction in top-line performance and a return to gross loss despite fresh equity financing.

Revenue fell 64.4% year on year to HK$83.84 million as the Hong Kong-based contracting and project-management group handled fewer and smaller projects. The downturn pushed the company into a marginal gross loss of HK$0.04 million versus a gross profit of HK$5.08 million a year earlier.

Operating pressures extended to the bottom line: net loss attributable to shareholders widened 100.4% to HK$10.35 million, translating into a basic and diluted loss per share of HK0.7 cents (1H 2025: HK0.4 cents). No interim dividend was declared.

Cost and credit metrics deteriorated. Net impairment losses under the expected-credit-loss model rose to HK$1.67 million (1H 2025: HK0.89 million), while finance costs eased 25.0% to HK0.27 million owing to lower average bank borrowings.

Liquidity improved on the back of a HK$39.73 million share placement completed in February 2026. Cash and pledged deposits closed the period at HK$42.56 million—up HK$31.49 million from year-end 2025—pushing the current ratio to 1.01x (FY 2025: 0.90x). Net assets turned positive to HK$6.44 million from a HK$22.95 million deficit six months earlier, although the Group still reported a net cash deficit of HK$9.01 million after accounting for HK$43.90 million in shareholder loans and HK$7.66 million in bank borrowings.

Post-balance-sheet, the company completed a non-underwritten rights issue on 19 August 2026, issuing 799.20 million new shares at HK$0.10 each and raising estimated net proceeds of HK$79.10 million. Funds are earmarked primarily for performance bonds, project working capital, overseas office setup, manpower expansion, and general corporate purposes tied to its engineering, procurement and construction (EPC) push in Belt-and-Road markets.

Management is conducting a strategic review aimed at integrating legacy construction expertise with energy and digital-infrastructure projects in emerging regions, citing heightened competition in Hong Kong.

Operating outlook remains contingent on successful overseas project conversion and ongoing cost controls after the period’s elevated losses and subdued revenue base.