Financial Performance - The total revenue for the year ended December 31, 2023, decreased by 45.7% to approximately HKD 193.8 million, down from HKD 357.2 million in the previous year[6]. - The group recorded a gross loss of approximately HKD 7.2 million, compared to a gross profit of HKD 7.3 million in the previous year[13]. - The expected credit loss impairment loss (net of reversals) increased by 469.8% to approximately HKD 35.9 million, up from HKD 6.3 million in the previous year[15]. - The net loss attributable to owners of the company for the year was approximately HKD 59.3 million, compared to a net loss of HKD 1.6 million in the previous year[13]. - Other income for the year was approximately HKD 0.4 million, a decrease of 95.0% from HKD 8.0 million in the previous year[14]. Operational Challenges - The construction industry in Hong Kong continues to face significant challenges, including rising interest rates and cash flow issues among Chinese property developers[7]. - The group will conduct a detailed review of its existing operations and financial condition to formulate sustainable business plans or strategies for future development[11]. - The group has a project reserve with a total contract value of approximately HKD 566.5 million, which is expected to support financial performance in the coming years[11]. Cost Management - Administrative expenses decreased by approximately HKD 4.9 million or 22.9% to about HKD 16.5 million due to cost control measures implemented during the year[20]. - Financing costs increased by approximately 100% to about HKD 0.2 million, attributed to higher interest on lease liabilities[22]. - The total employee cost reduction reflects a strategic focus on performance-based compensation to attract and retain qualified employees[42]. Employee and Governance - As of December 31, 2023, the group employed a total of 69 employees, down from 88 employees in 2022[42]. - The board of directors consists of four members, including one executive director and three independent non-executive directors[47]. - The company has adopted a diversity policy for board members, considering various measurable categories such as gender, age, and professional experience[54]. - The company has established three board committees: audit committee, remuneration committee, and nomination committee[70]. Risk Management and Compliance - The board assessed the effectiveness of the going concern assumption as of December 31, 2023, ensuring a balanced and understandable evaluation of the group's condition and prospects[88]. - The audit committee reviews the risk management and internal control systems annually, ensuring their effectiveness and adequacy[92]. - The company has established a policy for handling and disclosing inside information to ensure timely processing and prevent any individual from having an unfair advantage in trading[93]. Environmental, Social, and Governance (ESG) Initiatives - The environmental, social, and governance (ESG) report highlights the company's commitment to sustainable value creation during the fiscal year ending December 31, 2023[105]. - Key environmental performance indicators include strict monitoring of compliance with environmental regulations, with no significant non-compliance incidents reported[114]. - The company aims to balance operational needs with environmental protection by using effective resources and reducing pollutants[116]. - Total greenhouse gas emissions decreased to 182 tons of CO2 equivalent in 2023, down approximately 45.5% from 334 tons in 2022[121]. Community Engagement and Social Responsibility - The company actively engages in community welfare projects, such as the Public Estate Basketball Programme, to support youth development[161]. - Community investment initiatives focus on areas such as education, health, and environmental issues, reflecting the company's commitment to social responsibility[175]. - The company has implemented measures to protect intellectual property and ensure confidentiality of client information[157]. Future Outlook and Strategic Initiatives - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12%[182]. - New product launches are expected to contribute an additional HKD 200 million in revenue, with a focus on innovative technology solutions[182]. - The company is investing HKD 50 million in research and development for new technologies aimed at improving service efficiency[182].

Financial Performance - For the year ended December 31, 2023, the group's revenue from continuing operations decreased by approximately HKD 357.2 million or about 45.7% to approximately HKD 193.8 million[5]. - The loss before tax from continuing operations for the year ended December 31, 2023, was approximately HKD 59.3 million, compared to a loss of approximately HKD 1.6 million for the year ended December 31, 2022, indicating a significant deterioration in performance[5]. - The group's gross loss for the year ended December 31, 2023, was HKD 7.15 million, compared to a gross profit of HKD 7.33 million for the previous year, reflecting a negative shift in profitability[3]. - The group reported a continuous loss of approximately HKD 59,284,000 for the year ending December 31, 2023[28]. - The company reported a loss attributable to owners from continuing operations of HKD 59,284,000 for 2023, compared to a loss of HKD 1,552,000 in 2022[45]. - The group reported a net loss attributable to owners of approximately HKD 59.3 million for the year, compared to a net loss of HKD 1.0 million in 2022[75]. Dividends and Shareholder Returns - The board of directors did not recommend the payment of a final dividend for the year ended December 31, 2023[4]. - The group did not declare or propose any dividends for the year ending December 31, 2023, consistent with 2022[43]. - The company did not recommend any final dividend for the year ended December 31, 2023, consistent with the previous year[95]. Financial Position - The group's total assets decreased to HKD 192.1 million as of December 31, 2023, from HKD 225.6 million in the previous year, reflecting a decline in asset base[11]. - The net liabilities position as of December 31, 2023, was HKD 10.4 million, compared to a net asset position of HKD 48.9 million in the previous year, indicating a significant shift in financial health[13]. - As of December 31, 2023, the group's current liabilities net worth was approximately HKD 4,853,000, with total liabilities net worth of HKD 10,416,000 and bank borrowings of HKD 9,000,000[28]. - The current ratio as of December 31, 2023, was 0.98, down from 1.27 as of December 31, 2022[79]. - The capital debt ratio was negative as of December 31, 2023, compared to approximately 16.4% as of December 31, 2022, due to total losses for the year[79]. - The net current liabilities of the group were approximately HKD 4,853,000, and the total liabilities amounted to HKD 10,416,000[103]. Revenue and Income - The group generated revenue of HKD 193,771,000 from contracting services in 2023, a decrease from HKD 357,154,000 in 2022[33]. - Other income for the year 2023 was HKD 410,000, a significant decrease from HKD 7,962,000 in 2022[39]. - The company recorded other income of HKD 0.41 million for the year, down from HKD 8.0 million in the previous year, indicating a decline in ancillary revenue sources[7]. Expenses and Cost Management - Total administrative expenses for the year decreased to HKD 16.5 million from HKD 21.4 million in the previous year, indicating cost management efforts[7]. - The group incurred a total employee cost of HKD 34,424,000 in 2023, down from HKD 46,611,000 in 2022[42]. - Administrative expenses decreased by approximately HKD 4.9 million or 22.9% to about HKD 16.5 million, down from HKD 21.4 million in 2022[69]. Credit Risk and Provisions - The group reported an expected credit loss of HKD 35.9 million for the year, a substantial increase from HKD 6.3 million in the previous year, highlighting increased credit risk[7]. - Impairment losses under the expected credit loss model increased by approximately HKD 29.6 million or 469.8% to about HKD 35.9 million, compared to HKD 6.3 million in 2022[63]. - Trade receivables increased to HKD 71,131,000 in 2023 from HKD 60,017,000 in 2022, with expected credit loss provisions rising from HKD 3,221,000 to HKD 5,609,000[47]. - The company’s expected credit loss provision for other receivables increased from HKD 169,000 in 2022 to HKD 38,000 in 2023[49]. Operational Outlook and Strategies - The group plans to explore various business and investment opportunities in different sectors and regions to enhance long-term growth potential[59]. - The group will conduct a detailed review of its existing operations and financial status to formulate sustainable business plans or strategies for future development[59]. - The group is actively reviewing its capital structure and considering new debt financing or issuing new shares to obtain additional capital[30]. - The group is implementing cost control measures to achieve positive and sustainable operational cash flow[30]. Accounting Policies and Standards - The group has adopted the revised Hong Kong Accounting Standard No. 1, which replaces "significant accounting policies" with "significant accounting policy information" without major impact on the financial position or performance[18]. - The consolidated financial statements are prepared in accordance with the Hong Kong Financial Reporting Standards, with historical cost as the basis for measurement, except for certain financial instruments measured at fair value[25]. - Fair value is determined based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date[26]. Employee and Workforce - The company employed a total of 69 employees as of December 31, 2023, down from 88 employees in the previous year, with employee costs around HKD 34.4 million compared to HKD 46.6 million in 2022[88]. Legal and Compliance - The company has not faced any significant litigation that would adversely affect its financial condition during the reporting period[89]. - There were no significant investments or capital asset plans disclosed for the year ended December 31, 2023[84]. Going Concern and Uncertainties - There are significant uncertainties regarding the company's ability to continue as a going concern, as indicated in the financial statements[103]. - The financial statements do not include any adjustments that may result from the uncertainties mentioned[103].

Financial Performance - For the year ended December 31, 2023, the group's revenue from continuing operations decreased by approximately HKD 357.2 million or about 45.7% to approximately HKD 193.8 million[5]. - The loss before tax from continuing operations for the year was approximately HKD 59.3 million, compared to a loss of approximately HKD 1.6 million for the year ended December 31, 2022, indicating a significant deterioration in performance[5]. - The group's gross loss for the year was HKD 7.15 million, compared to a gross profit of HKD 7.33 million in the previous year, reflecting a negative shift in profitability[3]. - The group reported a continuous loss of approximately HKD 59,284,000 for the year ending December 31, 2023, with current liabilities net worth of about HKD 4,853,000 and bank borrowings of HKD 9,000,000[28]. - The group reported a net loss attributable to owners of approximately HKD 59.3 million for the year, compared to a net loss of HKD 1.0 million in 2022[75]. - The company reported a loss attributable to owners of the company from continuing operations of HKD 59,284,000 for 2023, compared to a loss of HKD 1,552,000 in 2022[45]. Dividend and Shareholder Returns - The board does not recommend the payment of a final dividend for the year ended December 31, 2023[4]. - The group has not declared or proposed any dividends for the year ending December 31, 2023, consistent with the previous year[43]. - The company did not recommend any final dividend for the year ended December 31, 2023, consistent with the previous year[95]. Cost Management and Expenses - Total administrative expenses for the year were HKD 16.5 million, down from HKD 21.4 million in the previous year, indicating cost management efforts[7]. - The total employee costs for the year 2023 amounted to HKD 34,424,000, down from HKD 46,611,000 in 2022, reflecting a cost control strategy[42]. - Administrative expenses decreased by approximately HKD 4.9 million or 22.9% to about HKD 16.5 million, down from HKD 21.4 million in 2022[69]. Asset and Liability Management - The group's total assets decreased from HKD 225.6 million in 2022 to HKD 192.1 million in 2023, reflecting a decline in asset base[11]. - The net current liabilities increased to HKD 4.85 million in 2023 from a net current asset position of HKD 47.6 million in 2022, indicating a worsening liquidity position[11]. - The company’s total liabilities decreased from HKD 168,196,000 in 2022 to HKD 144,635,000 in 2023, indicating a stronger balance sheet[52]. - The current ratio as of December 31, 2023, was 0.98, down from 1.27 as of December 31, 2022[79]. - The capital debt ratio was negative as of December 31, 2023, due to total losses for the year, compared to approximately 16.4% as of December 31, 2022[79]. Credit Risk and Impairment - The company reported an expected credit loss of HKD 35.9 million for the year, significantly higher than HKD 6.3 million in the previous year, suggesting increased credit risk[7]. - Impairment losses under the expected credit loss model increased by approximately HKD 29.6 million or 469.8% to about HKD 35.9 million, compared to HKD 6.3 million in 2022[63]. - The company’s expected credit loss provision for other receivables increased from HKD 169,000 in 2022 to HKD 38,000 in 2023[47]. Liquidity and Cash Flow - The group has a cash flow forecast indicating sufficient liquidity to meet operational and contractual obligations for at least the next twelve months[29]. - The company’s overdue trade receivables amounted to HKD 30,444,000 in 2023, with HKD 18,879,000 overdue for more than 90 days[50]. - The company’s cash and cash equivalents from the terminated subsidiary amounted to HKD 3,662,000[56]. - As of December 31, 2023, cash and bank balances increased by approximately HKD 6.1 million to about HKD 58.6 million, compared to HKD 52.5 million in 2022[77]. Business Strategy and Future Outlook - The group plans to explore various business and investment opportunities to enhance long-term growth potential, including asset sales, acquisitions, and business restructuring[59]. - The group has initiated several new projects supported by a total contract value of approximately HKD 566.5 million, expecting improved financial performance in the coming years[59]. - The group has identified a total of HKD 566,508,000 in remaining performance obligations as of December 31, 2023, compared to HKD 336,232,000 in 2022[34]. Accounting Policies and Standards - The group has adopted the revised Hong Kong Accounting Standard No. 1, which replaces "significant accounting policies" with "significant accounting policy information" without major impact on the financial position or performance[18]. - The consolidated financial statements are prepared in accordance with the Hong Kong Financial Reporting Standards, with historical cost as the basis for measurement, except for certain financial instruments measured at fair value[25]. - The group has not early adopted any new or revised Hong Kong Financial Reporting Standards that have been issued but are not yet effective[24]. Employment and Workforce - The company employed a total of 69 employees as of December 31, 2023, down from 88 employees in the previous year, with employee costs around HKD 34.4 million compared to HKD 46.6 million in 2022[88]. - The company’s average weighted ordinary shares outstanding remained stable at 1,332,000 shares for both 2023 and 2022[45]. Legal and Regulatory Matters - The company has not experienced any significant litigation that would adversely affect its financial condition during the reporting period[89]. - The group has several subsidiaries in Hong Kong that are required to pay long service payments to employees, with the recent legislative changes affecting the offset mechanism for mandatory provident fund contributions[19]. - The group has implemented accounting policy changes in response to the abolition of the offset mechanism for long service payments, which will take effect on May 1, 2025[20].

Financial Performance - For the six months ended June 30, 2023, FDB Holdings Limited reported revenue of HKD 67.6 million, a decrease of approximately 34.3% compared to HKD 102.9 million for the same period in 2022[11]. - The company recorded a loss attributable to owners of HKD 12.4 million for the current period, compared to a profit of HKD 9.2 million in the prior year[12]. - The basic and diluted loss per share from continuing operations was HKD 0.9 cents, down from a profit of HKD 0.7 cents per share in the previous year[14]. - The gross loss for the period was HKD 5.3 million, compared to a gross profit of HKD 1.6 million in the same period last year[11]. - For the six months ended June 30, 2023, the company reported a loss before tax of HKD (12,409) thousand, compared to a profit of HKD 9,245 thousand for the same period in 2022[22]. - Total comprehensive income for the period was HKD 9,881 thousand, a decrease from HKD 49,905 thousand in the previous year[19]. - The group’s revenue from continuing operations decreased by approximately HKD 35.3 million or 34.3% to about HKD 67.6 million (2022: HKD 102.9 million) due to a reduction in the number of projects contributing revenue[68]. - The group recorded a gross loss of approximately HKD 5.3 million (2022: gross profit of HKD 1.6 million) primarily due to unexpected delays in project progress, resulting in additional costs[68]. Assets and Liabilities - Total assets less current liabilities decreased to HKD 36.6 million as of June 30, 2023, compared to HKD 48.9 million at the end of 2022[16]. - The company's cash and cash equivalents dropped significantly to HKD 2.2 million from HKD 31.6 million at the end of 2022[16]. - The total liabilities decreased to HKD 120.3 million from HKD 178.0 million, indicating a reduction in financial obligations[16]. - The company's net asset value decreased to HKD 36,459 thousand as of June 30, 2023, down from HKD 48,868 thousand at the end of 2022[17]. - As of June 30, 2023, trade receivables amounted to HKD 38,198,000, down from HKD 60,017,000 as of December 31, 2022, reflecting a decrease of approximately 36.3%[51]. - The group’s trade payables decreased significantly to HKD 16,075,000 from HKD 63,642,000, a reduction of approximately 74.8%[54]. - As of June 30, 2023, contract assets amounted to HKD 72,522,000, down 22% from HKD 93,572,000 as of December 31, 2022[50]. Cash Flow and Expenses - The company experienced a significant cash outflow from operating activities, totaling HKD (28,884) thousand, compared to a cash inflow of HKD 10,433 thousand in the previous year[22]. - The cash and cash equivalents decreased to HKD 2,235 thousand as of June 30, 2023, from HKD 15,120 thousand at the end of the previous year[24]. - The total employee costs for the six months ended June 30, 2023, amounted to HKD 19,081,000, down 22% from HKD 24,398,000 in 2022[41]. - Administrative expenses were reduced to HKD 7.8 million from HKD 10.8 million, reflecting cost control measures[13]. - Other income from continuing operations decreased by approximately 97.7% to about HKD 0.1 million (2022: HKD 4.3 million), mainly due to the termination of certain contract liabilities and a reduction in government subsidies related to COVID-19[69]. Corporate Governance and Management - The company did not recommend any interim dividend for the current period[12]. - The company has adopted a code of conduct for securities transactions by directors, ensuring compliance with the relevant standards[103]. - The board believes that good corporate governance is essential for effective management and business growth[100]. - The roles of the chairman and CEO are distinct, with Mr. Wu currently holding both positions to enhance strategic efficiency[102]. - The audit committee has been established to oversee the appointment and independence of external auditors and the integrity of financial reports[114]. Future Outlook and Strategy - The company plans to focus on improving operational efficiency and managing costs in the upcoming periods[30]. - The group plans to explore various opportunities and control costs to maintain good performance in the coming years, considering partnerships for construction projects[67]. - The company has no significant investment or capital asset plans as of the report date, focusing on consolidating its business in the construction industry[83].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示概不會就因本公告全部或任何部分內容而產生或 因倚賴該等內容而引致的任何損失承擔任何責任。 FDB HOLDINGS LIMITED 豐 展 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：1826） 截至二零二三年六月三十日止六個月之 中期業績公告 豐展控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然公佈本公司及 其附屬公司截至二零二三年六月三十日止六個月之未經審核綜合業績。本公 告載列本公司二零二三年中期報告全文，符合香港聯合交易所有限公司證券 上市規則有關中期業績初步公告隨附資料的相關規定。 承董事會命 豐展控股有限公司 董事會主席兼行政總裁 吳建韶 香港，二零二三年八月二十八日 ...

Financial Performance - For the year ended December 31, 2022, the total revenue decreased by 6.6% to approximately HKD 357.2 million from HKD 382.3 million in the previous year[8]. - The group recorded a gross profit of approximately HKD 7.3 million, compared to a gross loss of HKD 29.9 million in the previous year[17]. - The net loss attributable to the owners of the company was approximately HKD 1.6 million, a significant improvement from a net loss of HKD 64.8 million in the previous year[17]. - The group's contracting service revenue decreased by approximately 6.6% to about HKD 357.2 million for the year, down from approximately HKD 382.3 million in the previous year[18]. - Gross profit from contracting services increased to approximately HKD 7.3 million, with a gross profit margin of 2.0%, compared to a gross loss of HKD 29.9 million and a gross loss margin of 7.8% in the previous year[18]. - Other income surged by approximately 1,042.9% to about HKD 8.0 million, primarily due to one-time income including government subsidies of about HKD 2.3 million[19]. - The company confirmed an expected credit loss impairment of approximately HKD 6.3 million for the year, compared to HKD 2.9 million in the previous year[17]. - Administrative expenses decreased by approximately 33.1% to about HKD 21.4 million, down from approximately HKD 32.0 million in the previous year due to cost control measures[26]. - Financing costs decreased by 66.6% to about HKD 0.1 million, down from approximately HKD 0.3 million in the previous year[27]. - The group reported a net cash position increase to approximately HKD 44.5 million, up from HKD 5.3 million in the previous year[33]. - The profit attributable to the owners of the company for the year was approximately HKD 1.0 million, a decline from a profit of HKD 40.1 million in the previous year[32]. Strategic Outlook - The company plans to explore various opportunities to maximize shareholder value despite ongoing challenges in the construction industry[9]. - The group aims to conduct a detailed review of its existing operations and financial status to formulate sustainable business plans and strategies for future development[16]. - The company anticipates that the lifting of travel restrictions and social distancing measures will allow for a gradual recovery of operations[14]. - The group expects to improve its financial performance and position over the next few years as material and transportation costs decrease due to China's reopening[14]. - The company intends to leverage expertise in real estate development and financial services to expand its revenue sources[16]. Risk Factors - The construction industry continues to face risks including the spread of COVID-19 variants, rising interest rates, supply chain disruptions, and labor shortages[9]. Corporate Governance - The board has adopted the corporate governance code as per the listing rules and has complied with all applicable provisions during the year ended December 31, 2022[60]. - The board consists of five members, including one executive director and four independent non-executive directors[62]. - The company has implemented a diversity policy for board members, considering various measurable aspects such as gender, age, and professional experience[69]. - The nomination committee reviews the diversity policy annually to ensure its effectiveness and promotes gender diversity at all levels[72]. - The company has established a code of conduct for directors' securities transactions, ensuring compliance with the listing rules[61]. - The board structure is designed to ensure a clear division of responsibilities between the chairman and the CEO, enhancing strategic efficiency[64]. - The company has arranged appropriate insurance to protect directors and senior officers against legal actions arising from corporate activities[67]. - The board held two meetings during the year ending December 31, 2022, with all executive and independent non-executive directors attending both meetings[76]. - The company conducted two annual general meetings in the same period, with most directors attending both, except for one who attended only one[76]. - The audit committee consists of four independent non-executive directors, with the chairman possessing appropriate professional qualifications and accounting experience[86]. - The audit committee's responsibilities include reviewing the independence of external auditors and monitoring the integrity of financial reports before submission to the board[87]. - The company emphasizes continuous professional development for directors, with all participating in relevant training and seminars[82]. - The board is responsible for corporate governance functions, including policy formulation and compliance with legal and regulatory requirements[78]. - Independent non-executive directors are appointed for a term of three years and must be re-elected according to the company's articles of association[80]. - The company has established three board committees: audit committee, remuneration committee, and nomination committee, with their terms of reference available on the stock exchange and company websites[85]. - The company ensures that all directors have access to the company secretary's advice and services to comply with board procedures and applicable rules[78]. - The board receives at least 14 days' notice for regular meetings, allowing sufficient time for directors to prepare[78]. - The audit committee held two meetings during the year ended December 31, 2022, to review and approve financial performance[88]. - The board and audit committee had no disagreements regarding the selection and appointment of external auditors for the year ended December 31, 2022[89]. - The company reviewed its internal control systems, including financial, operational, and compliance monitoring, during the year ended December 31, 2022[90]. - The company reported that there were no meetings held by the remuneration committee during the year ended December 31, 2022[92]. - The remuneration details for senior management members were categorized by salary range, with 4 employees earning between HKD 1,000,001 and HKD 2,000,000, and 1 employee earning between HKD 3,000,001 and HKD 4,000,000[96]. - The board is responsible for establishing and reviewing the internal control system to safeguard shareholder investments and the company's assets[102]. - The company believes that its risk management and internal control systems are adequate and effective as of the year ended December 31, 2022[103]. - The audit committee reviewed the effectiveness of the risk management and internal control systems, covering all significant control measures[103]. - The company has not established an internal audit function, considering its size, nature, and complexity[102]. - The board is committed to timely publishing the financial statements to provide a balanced and understandable assessment of the company's position and prospects[101]. - The external auditor's fees for statutory audit services amounted to HKD 891,000 for the year ended December 31, 2022, down from HKD 1,730,000 in 2021, indicating a decrease of approximately 48.5%[107]. - The total fees paid to external auditors, including non-audit services, were HKD 929,000 for 2022, compared to HKD 1,810,000 in 2021, reflecting a reduction of about 48.7%[107]. - The company has established a policy for handling and disclosing inside information to ensure timely processing and prevent any individual from gaining an unfair advantage in trading[106]. - The risk management and internal control framework has been reviewed by the board and deemed effective and adequate as of December 31, 2022[105]. Environmental, Social, and Governance (ESG) Initiatives - The environmental, social, and governance (ESG) report highlights the company's commitment to sustainable value creation during the reporting period ending December 31, 2022[118]. - The company is committed to managing environmental, social, and governance (ESG) risks through ongoing development and evaluation of its ESG policies[125]. - The company has established a clear direction for integrating ESG measures into its strategic planning to create sustainable value for stakeholders[125]. - The company is focused on balancing operational needs with environmental protection to achieve its business goals[129]. - The total greenhouse gas emissions for the reporting period amounted to 334 tons of CO2 equivalent, representing an increase of approximately 27% compared to the previous reporting period[134]. - Direct emissions (Scope 1) were recorded at 64 tons of CO2 equivalent, while indirect emissions (Scope 2) were 238 tons of CO2 equivalent, and other indirect emissions (Scope 3) were 32 tons of CO2 equivalent[134]. - The company achieved zero emissions for nitrogen oxides (NOx), sulfur oxides (SOx), and particulate matter (PM) during the reporting period due to reduced vehicle usage[132]. - The company has implemented strict monitoring to ensure compliance with environmental regulations, resulting in no significant non-compliance incidents related to emissions[127]. - Key performance indicators for air pollutant emissions were analyzed annually to enhance stakeholder value[125]. - The company has adopted ultra-low sulfur diesel for its machinery and has implemented measures to reduce waste generation[128]. - The company actively engages stakeholders for feedback on its ESG policies and performance[124]. - The company has set goals for waste reduction and is actively taking steps to achieve these targets, demonstrating a commitment to environmental sustainability[178]. - The company monitors its resource usage, including energy and water, and has established efficiency targets to optimize resource consumption[178]. - The company has implemented measures to improve resource efficiency and reduce energy consumption, including encouraging employees to turn off lights and appliances when leaving the office[145]. - The company has not generated any hazardous waste during the reporting period[139]. - The company’s environmental management system is certified to ISO 14001 standards, indicating a commitment to minimizing environmental impact[147]. Employee and Labor Practices - As of December 31, 2022, the total number of employees in the group is 88, with a gender distribution of 74% male and 26% female[154]. - The overall employee turnover rate for 2022 is 1%, with a male turnover rate of 4% and a female turnover rate of 0%[155]. - The group reported a total of 162 workdays lost due to work-related injuries in 2022, a significant decrease from 898 days in 2021[160]. - The group maintains a strict adherence to labor laws, with no reported cases of child or forced labor as of December 31, 2022[165]. - The group has implemented various health and safety measures, including the installation of air purifiers and encouraging vaccination among employees[158]. - The average training hours for general employees in 2022 is 20 hours, with 98% of training hours completed by male employees[164]. - The group has established a robust internal promotion mechanism to enhance employee motivation and career development[154]. - The group emphasizes the importance of employee development, providing various training opportunities to enhance skills and knowledge[161]. - The group conducts annual evaluations of suppliers to ensure compliance with quality and safety standards[167]. - The company has adhered to all relevant laws and regulations regarding employment practices as of December 31, 2022[150]. Community Engagement and Corporate Responsibility - The company encourages employee participation in community welfare initiatives, enhancing stakeholder engagement and understanding of community needs[174]. - Community investment efforts were outlined, focusing on areas such as education, environment, labor needs, health, and culture[188]. Compliance and Ethical Standards - The company has established policies to ensure compliance with relevant laws and regulations regarding service quality and safety, reflecting its commitment to operational integrity[170]. - The company emphasizes the importance of intellectual property protection and has implemented measures to ensure proper usage in contracts with clients and suppliers[170]. - There were no reported cases of non-compliance related to product liability during the year ending December 31, 2022, showcasing effective governance practices[172]. - The company has a zero-tolerance policy towards corruption and fraud, with no complaints received from government agencies regarding non-compliance with anti-corruption laws as of December 31, 2022[173]. - The company has implemented a code of conduct for employees to guide ethical behavior, particularly in areas such as gift acceptance and conflict of interest[173]. Board of Directors and Management - The executive director, Mr. Ng, has extensive experience in building surveying and has been with the company since March 2015, contributing to overall business development and strategic planning[190]. - The independent non-executive director, Mr. Chan, brings over 30 years of experience in the banking and finance industry, enhancing the company's governance[194]. - Mr. Yin Zhiwei has been an independent non-executive director since January 12, 2018, with professional experience in accounting and law[196]. - Mr. Liu Guohui has over 20 years of experience in accounting, auditing, financial advisory, and corporate governance, appointed as an independent non-executive director on January 12, 2018[198]. - Mr. Liu holds a Master's degree in Corporate Governance and Directorship from Hong Kong Baptist University, awarded in November 2014[200]. - Mr. Liu has served in various financial roles, including Chief Financial Officer and Company Secretary at International United Finance Leasing Limited, which was listed on the Hong Kong Stock Exchange in March 2019[198]. - Mr. Yin has been an independent non-executive director of Chuangmei Pharmaceutical Co., Ltd. since December 2015, which is listed on the Hong Kong Stock Exchange[196]. - Mr. Liu has held positions at KPMG, focusing on financial due diligence, corporate restructuring, and financial modeling[198]. - Mr. Liu has been a member of the Hong Kong Institute of Certified Public Accountants since July 2003 and a fellow member of the Association of Chartered Certified Accountants since December 2007[200]. - Mr. Yin graduated with a Bachelor's degree in Accounting from the Hong Kong University of Science and Technology in November 1997[196]. - Mr. Liu has experience in statutory audits and internal control reviews from his tenure at PwC and other firms[198].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示概不會就因本公告全部或任何部分內容而產生或 因倚賴該等內容而引致的任何損失承擔任何責任。 FDB HOLDINGS LIMITED 豐 展 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：1826） 截至二零二二年十二月三十一日止年度 的年度業績公告 財務摘要 截至十二月三十一日止年度 二零二二年 二零二一年 變幅(%) 收益（千港元） 357,154 382,273 (6.6%) 毛利╱（損（）千港元） 7,331 (29,916) 不適用 持續經營業務的除稅前虧損（千港元） (1,588) (64,830) 97.6% ‧ 截至二零二二年十二月三十一日止年度，本集團的持續經營業務收益 較截至二零二一年十二月三十一日止年度減少約25.1百萬港元或約6.6% ...

Financial Performance - For the six months ended June 30, 2022, FDB Holdings Limited reported revenue of approximately HKD 102.9 million, a decrease of about HKD 12.1 million or 10.5% compared to the same period in 2021[28]. - The profit attributable to the owners of the company from continuing operations was approximately HKD 9.2 million, a significant recovery from a loss of HKD 29.6 million in the same period of 2021[28]. - The profit from discontinued operations was approximately HKD 0.6 million, a decrease of about HKD 105.7 million or 99.5% compared to the prior year[28]. - Basic and diluted earnings per share from continuing operations were 0.7 HK cents, compared to a loss of 2.2 HK cents in the same period last year[35]. - Total comprehensive income for the period was HKD 9.9 million, compared to HKD 57.6 million in the previous year[35]. - The company experienced a gross profit of HKD 1.6 million from continuing operations, compared to a gross loss of HKD 14.0 million in the same period of 2021[28]. - The company reported a pre-tax profit of HKD 9.2 million, recovering from a pre-tax loss of HKD 29.6 million in the same period last year[32]. - The company reported a profit of HKD 9,245 for the six months ended June 30, 2022, compared to a loss of HKD 29,558 for the same period in 2021[149]. - Total comprehensive income attributable to the company's owners for the period was approximately HKD 9.3 million, compared to a loss of HKD 46.0 million in the previous year[193]. Revenue and Income - The company's revenue for the reporting period decreased by approximately HKD 12.1 million or 10.5% to about HKD 102.9 million, compared to HKD 115.0 million in the previous year[182]. - The revenue from continuing operations for the contracting services was HKD 102,892,000 for the six months ended June 30, 2022, a decrease of 10.3% compared to HKD 114,989,000 for the same period in 2021[75]. - Other income for the six months ended June 30, 2022, totaled HKD 4,284,000, significantly up from HKD 250,000 in the same period of 2021[77]. - Other income from ongoing operations was approximately HKD 4.3 million, a significant increase of about 1,333% from HKD 0.3 million in the previous year, mainly due to the termination of certain contract liabilities and government subsidies related to COVID-19[185]. Expenses and Costs - Administrative expenses for the period were HKD 3.3 million, a decrease from HKD 10.8 million in the previous year[32]. - Total employee costs amounted to HKD 24,398,000 for the six months ended June 30, 2022, down from HKD 26,646,000 in the same period of 2021, reflecting a decrease of 4.7%[85]. - The finance costs for the six months ended June 30, 2022, were HKD 67,000, a decrease from HKD 146,000 in the same period of 2021[82]. - Administrative expenses decreased by approximately HKD 5.4 million or 33.3% to about HKD 10.8 million during the period[188]. - Financing costs decreased by approximately HKD 0.1 million or 50.0% to about HKD 0.1 million due to reduced interest payments on bank loans and lease liabilities[189]. Assets and Liabilities - As of June 30, 2022, total non-current assets amounted to HKD 2,404 million, a decrease from HKD 3,346 million as of December 31, 2021, representing a decline of approximately 28.2%[36]. - The company's cash and cash equivalents increased to HKD 15,120 million from HKD 9,551 million, marking a growth of 58.5% year-over-year[60]. - The net asset value rose to HKD 59,665 million, up from HKD 49,905 million, indicating an increase of 19.5% compared to the previous year[39]. - Total liabilities decreased to HKD 126,672 million from HKD 190,290 million, reflecting a reduction of approximately 33.5%[36]. - The company’s trade receivables and other receivables decreased to HKD 94,921 million from HKD 123,967 million, a decline of 23.5%[36]. - The company’s contract assets decreased to HKD 53,222 million from HKD 87,918 million, representing a decrease of 39.5%[36]. - Trade payables decreased to HKD 37,683,000 as of June 30, 2022, from HKD 66,299,000 as of December 31, 2021[159]. - The company reported a total of HKD 112,895,000 in trade payables and other payables as of June 30, 2022, down from HKD 165,836,000 as of December 31, 2021[159]. Cash Flow - The operating cash flow before changes in working capital was reported at HKD (3,666) million, a significant improvement from HKD (29,523) million in the previous year[60]. - The company’s financing activities generated a net cash inflow of HKD 10,000 million, compared to a net outflow of HKD (5,479) million in the previous year[62]. - Cash flow from operating activities for the terminated consulting services division was HKD 450,000 during the same period[91]. - The net cash flow generated from the sale of the consulting services division was HKD 6,027,000 after accounting for cash balances sold[113]. Dividends and Share Capital - The company did not recommend any interim dividend for the relevant period[28]. - The company did not declare any dividends for the six months ended June 30, 2022, and 2021[148]. - The issued share capital as of June 30, 2022, was HKD 13,320,000, with 1,332,000,000 ordinary shares issued[199]. Business Operations and Changes - The group has ceased operations in the financial information and technology services sector as of December 31, 2021, impacting the segment performance reporting[65]. - The company changed its functional currency from RMB to HKD effective January 1, 2022, due to changes in the economic environment[66]. - The company sold its consulting services division for a cash consideration of HKD 8,500,000 on February 10, 2021, marking the termination of this business segment[87]. - The financial information and technology services division was also sold, with the sale of subsidiaries generating a profit of HKD 583,000 in the first quarter of 2022[117]. - The company completed the sale of Shanghai Feitang and its subsidiaries for approximately RMB 1 on March 30, 2021, resulting in the exclusion of its performance, cash flow, assets, and liabilities from the consolidated financial statements thereafter[130]. - The company also sold Tianjin Turing and its subsidiaries for approximately RMB 1 on May 28, 2021, leading to the same exclusion from the consolidated financial statements[136]. - The company committed to sell Shengyi Group on December 14, 2021, with the sale completed on March 24, 2022, resulting in the exclusion of its performance and financials from the consolidated statements[145]. Financial Ratios - The current ratio as of June 30, 2022, was 1.45, up from 1.25 as of December 31, 2021[198]. - The debt-to-equity ratio decreased to approximately 20.1% as of June 30, 2022, from about 28.4% as of December 31, 2021[198]. Miscellaneous - The group recognized government subsidies of HKD 848,000 related to COVID-19 support measures during the six months ended June 30, 2022[77]. - The company expects to continue seeking various opportunities to maximize shareholder value despite uncertainties related to COVID-19[181]. - The company maintains a prudent funding and treasury policy to minimize financial risks[199].

Financial Performance - Total revenue for the year ended December 31, 2021, decreased by 7.2% to approximately HKD 382.3 million from approximately HKD 411.9 million in the same period of 2020[6]. - The company achieved a net profit of approximately HKD 41.4 million, compared to a net loss of approximately HKD 429.5 million in the same period of 2020[6]. - The company reported a revenue decrease of approximately HKD 29.6 million or 7.2% to about HKD 382.3 million for the year ended December 31, 2021, compared to HKD 411.9 million in 2020[25]. - The company recorded a gross loss of approximately HKD 29.9 million for the year, compared to a gross loss of HKD 9.1 million in the previous year, resulting in a gross loss margin of 7.8%[26]. - The company incurred a net loss attributable to owners of approximately HKD 64.8 million for the year, compared to a net loss of HKD 60.1 million in 2020[25]. - The group recorded a profit of approximately HKD 106.3 million from discontinued operations, compared to a loss of HKD 369.4 million in 2020, mainly due to gains from the sale of subsidiaries[43]. - The group reported a profit attributable to owners of approximately HKD 40.1 million for the year, a significant improvement from a loss of HKD 245.0 million in 2020[43]. - The group recognized impairment losses of approximately HKD 1.5 million and HKD 1.6 million for trade receivables and contract assets, respectively, compared to HKD 123.2 million and HKD 6.1 million in 2020[37]. - The company confirmed an expected credit loss impairment of approximately HKD 2.9 million for the year, down from HKD 20.2 million in 2020[25]. - Other income for the year was approximately HKD 0.7 million, a decrease of about 89.8% from HKD 6.6 million in 2020, primarily due to one-time income from the Hong Kong Employment Support Scheme[27]. Business Operations and Strategy - The company terminated its construction consulting business and sold a subsidiary in February 2021 to consolidate its operations and enhance competitiveness in the construction industry[7]. - Following a change in control in April 2021, the company is restructuring its internal management to better utilize its management team's talents and market experience[7]. - The company plans to change its name to mark the new era following the change in control and will continue to seek business and investment opportunities for long-term growth[8]. - The construction division primarily provides contracting services for renovation, maintenance, specialized engineering, and new development projects in Hong Kong[13]. - The financial division, which provided financial information and technology services in China, ceased operations following the change in control[14]. - The company has terminated its financial division operations following the sale of subsidiaries, which will allow for more effective resource allocation[18]. - The company intends to conduct a detailed review of its existing operations and financial status to formulate sustainable business plans for future development[23]. - The company has no significant investment or capital asset plans as of December 31, 2021, but will continue to seek business and investment opportunities for long-term growth[53]. Shareholder and Corporate Governance - The company has undertaken a change in controlling shareholders, with Masterveyor Holdings Limited becoming the major shareholder as of April 26, 2021[15]. - The company has proposed a name change to FDB Holdings Limited, effective April 12, 2022, symbolizing a new era following the change in control[20]. - The company has adopted the corporate governance code as per the listing rules and has complied with all applicable provisions during the year ended December 31, 2021[99]. - The board consists of four members, including one executive director and three independent non-executive directors[101]. - The company has separated the roles of Chairman and CEO to ensure clear division of responsibilities and balanced power distribution[103]. - The company has established three board committees: Audit Committee, Remuneration Committee, and Nomination Committee, with their written terms of reference available on the stock exchange and the company's website[127]. - The Audit Committee consists of three independent non-executive directors, ensuring compliance with listing rules and corporate governance codes[128]. - The company has not identified any instances of non-compliance with the standards for securities trading by directors during the year ended December 31, 2021[100]. - The company has arranged appropriate insurance to protect directors and senior officers against legal actions arising from corporate activities[106]. Legal and Compliance Issues - The company is currently involved in a legal case regarding the sale of equity instruments measured at fair value through other comprehensive income, which is still ongoing[75]. - The company received a statutory demand for repayment of HKD 14,148,825 from Gentle Soar, claiming amounts paid to the company between August 15, 2018, and May 18, 2021[78]. - The High Court allowed the termination of legal proceedings related to the statutory demand after Gentle Soar withdrew the demand[80]. - Gentle Soar filed a winding-up petition against the company's subsidiary, claiming the same amount of HKD 14,148,825, which is not expected to have a significant negative impact on the group's overall financial and operational situation[83]. - The independent auditor's report for the year ended December 31, 2021, did not express an opinion on the consolidated financial statements due to insufficient audit evidence regarding certain receivables and tax liabilities[86]. - The company completed the sale of Shanghai Feiyu Group on March 30, 2021, which addressed the issues related to receivables and tax liabilities[87]. - The company believes that the issues leading to the auditor's disclaimer of opinion for 2021 have been satisfactorily resolved[96]. Environmental Performance - The company reported a significant reduction in emissions, with nitrogen oxides (NOx) dropping from 11.49 kg in 2020 to 0 kg in 2021, and sulfur oxides (SOx) decreasing from 0.21 kg to 0 kg[182]. - Total greenhouse gas emissions amounted to 264 tons of CO2 equivalent in 2021, a 59% increase in emissions from the construction division compared to the previous reporting period[185]. - The company has implemented strict monitoring to ensure compliance with environmental regulations, with no significant non-compliance incidents reported[176]. - The company aims to balance operational needs with environmental protection by using effective resources and reducing pollutants[179]. - The company has adopted ultra-low sulfur diesel for machinery and has prohibited open burning on all construction sites[177]. - The company’s environmental, social, and governance (ESG) policies are continuously developed and assessed to enhance stakeholder value[173]. - The company’s waste management practices comply with the Waste Disposal Ordinance, ensuring proper handling of construction site waste[186]. - The company has committed to using environmentally friendly cleaning energy and reusing materials to minimize waste[181]. - The total harmless waste generated in 2021 was 6,630 tons, a decrease of 18.5% from 8,130 tons in 2020[190]. - The amount of construction waste sent to landfill decreased from 1,292 tons in 2020 to 1,128 tons in 2021, a reduction of 12.7%[190]. Resource Management - The company has implemented measures to improve resource efficiency and reduce energy consumption in operations[192]. - Total electricity consumption increased significantly to 318,753 kWh in 2021 from 157,846 kWh in 2020, representing a 102.1% increase[195]. - Water consumption rose to 4,158 cubic meters in 2021 from 144.2 cubic meters in 2020, marking a substantial increase of 2,889.4%[195]. - The electricity density per employee per day increased to 7.66 kWh in 2021 from 2.177 kWh in 2020[195]. - The water density per employee per day increased to 0.1 cubic meters in 2021 from 0.060 cubic meters in 2020[195]. - The company has developed an environmental management system certified to ISO 14001 standards[198]. - The company continues to monitor and reduce its greenhouse gas emissions primarily from electricity and water consumption[199].

Financial Performance - For the six months ended June 30, 2021, the revenue from continuing operations was approximately HKD 123.2 million, a decrease of about HKD 64.2 million or 34.3% compared to the same period in 2020[27]. - The profit attributable to owners of the company from continuing operations was approximately HKD 70.3 million, compared to a loss of HKD 99.8 million for the same period in 2020[27]. - The profit from discontinued operations was approximately HKD 5.1 million, an increase of about HKD 4.6 million or 874.8% compared to the same period in 2020[27]. - The gross loss for the six months ended June 30, 2021, was HKD 11.4 million, a reduction of 45.2% from HKD 20.9 million in the same period in 2020[27]. - The company reported a pre-tax profit of HKD 71.6 million for the period, compared to a pre-tax loss of HKD 169.5 million in the same period in 2020[33]. - The total comprehensive income for the period was HKD 57.9 million, compared to a total comprehensive loss of HKD 158.5 million in the same period in 2020[33]. - The profit attributable to the company's owners for the six months ended June 30, 2021, was HKD 75,423,000, compared to a loss of HKD 99,250,000 in the same period of 2020, representing a significant turnaround[35]. - Basic earnings per share from continuing operations was HKD 5.3, compared to a loss of HKD 7.5 in the previous year, indicating improved profitability[35]. - The company reported a total comprehensive income of HKD 57,857,000 for the period, compared to a total comprehensive loss of HKD 158,549,000 in the prior year[35]. Operational Efficiency - The company continues to focus on improving operational efficiency and exploring new market opportunities[27]. - The administrative expenses for the period were HKD 921,000, a decrease from HKD 132.9 million in the same period in 2020[33]. - The company plans to continue focusing on market expansion and new product development to sustain growth momentum in the upcoming periods[41]. Assets and Liabilities - Total assets as of June 30, 2021, amounted to HKD 267,913,000, while total liabilities were HKD 183,000,000, resulting in a net asset position of HKD 84,913,000[39]. - Non-current liabilities increased to HKD 3,010,000 from HKD 1,570,000 year-over-year, primarily due to higher lease liabilities[40]. - The company’s equity attributable to owners increased to HKD 84,970,000 from HKD 2,316,000, reflecting a strong recovery in financial performance[40]. - The company’s total liabilities to total assets ratio improved, indicating a stronger balance sheet and reduced financial risk[39]. - The company’s total liabilities decreased significantly, reflecting a strategic focus on reducing debt and improving liquidity[54]. Cash Flow - Cash and cash equivalents as of June 30, 2021, were HKD 26,277,000, contributing to a healthy liquidity position[39]. - The net cash used in operating activities was HKD (19,482) thousand, a significant decrease from HKD (116,736) thousand in the previous period[51]. - The net cash generated from investing activities was HKD 27,787 thousand, compared to HKD 44,811 thousand in the previous period[53]. - The cash and cash equivalents increased by HKD 2,826 thousand, contrasting with a decrease of HKD (121,013) thousand in the previous period[53]. - The company’s financing activities resulted in a net cash inflow of HKD 26,277 thousand, compared to a net outflow of HKD (5,479) thousand in the previous period[53]. Receivables and Payables - The company reported a decrease in trade receivables and other receivables by HKD 11,177 thousand, while trade payables and other payables decreased by HKD (11,760) thousand[51]. - Trade receivables as of June 30, 2021, amounted to HKD 41,443,000, a decrease of 40.3% from HKD 69,372,000 as of December 31, 2020[170]. - The expected credit loss provision for trade receivables was HKD 2,151,000, significantly lower than HKD 292,513,000 in the previous year[170]. - The total amount of trade payables as of June 30, 2021, was HKD 15,580,000, a decrease from HKD 36,405,000 as of December 31, 2020[180]. - The company reported a significant reduction in expected credit loss provisions across various receivables, indicating improved credit risk management[170]. Dividends and Shareholder Returns - The board of directors did not recommend the payment of any interim dividend for the period[27]. - The company did not declare any dividends for the interim period, consistent with the previous year[145]. Discontinued Operations - The company has terminated its construction consulting services and sold several subsidiaries engaged in financial information and technology services during the reporting period[54]. - The company recorded a significant reduction in losses from discontinued operations, with a profit of HKD 5,147,000 compared to a loss of HKD 528,000 in the previous year[35]. - The company reported a profit from discontinued operations of HKD 5,147 thousand, compared to HKD 528 thousand in the previous year, representing an increase of approximately 876%[148]. Employee Costs - The company’s total employee costs amounted to HKD 28,801,000 for the six months ended June 30, 2021, down from HKD 46,027,000 in the previous year[118]. - The total employee costs amounted to HKD 2,107 thousand, a decrease from HKD 13,571 thousand, reflecting a reduction of approximately 84%[125].