tiprankstipranks
Trending News
More News >
FDB Holdings Limited (HK:1826)
:1826
Hong Kong Market

FDB Holdings Limited (1826) AI Stock Analysis

Compare
0 Followers

Top Page

HK:1826

FDB Holdings Limited

(1826)

Select Model
Select Model
Select Model
Neutral 44 (OpenAI - 5.2)
Rating:44Neutral
Price Target:
HK$0.19
▲(89.00% Upside)
Overall score is held down primarily by weak financial performance (negative equity, inconsistent profitability, and negative free cash flow). Technicals are supportive in the near term (price above key moving averages and positive MACD) but are tempered by an overbought RSI. Valuation signals are limited by a negative P/E and no stated dividend yield.
Positive Factors
Diversified Revenue Streams
Multiple income sources—recurring rental income, cyclical property sales and fee-based management—support cash flow diversification. This reduces reliance on any single market segment and improves resilience across property cycles, aiding medium-term stability and planning.
Recent Revenue Recovery
Double-digit recent revenue growth indicates the company is recovering from prior declines. If sustained, this trend supports improved utilization of assets and project pipelines, helping margins and cash generation over the next several quarters versus prior volatile years.
Low Market Volatility
A low beta signals lower sensitivity to broad market swings, which can translate into steadier operating performance and easier financial planning. Lower equity volatility can reduce refinancing risk and support long-term strategic decisions in real estate development.
Negative Factors
Negative Equity / Solvency Risk
Negative shareholders' equity is a structural red flag that limits access to capital markets and raises refinancing risk. It constrains ability to fund development projects, pursue acquisitions, or absorb downturns without equity injections or restructuring, affecting long-term viability.
Weak Cash Generation
Sustained negative free cash flow and operating outflows indicate the business struggles to convert profits to cash. This erodes liquidity, impairs ability to service debt and fund capex, and increases dependence on external financing or asset sales for ongoing operations.
Volatile Profitability
Historical revenue volatility and intermittent negative margins hinder margin sustainability and forecasting. Such instability undermines scale economics in development and property management, complicates long-term contracts and investor confidence, and raises execution risk.

FDB Holdings Limited (1826) vs. iShares MSCI Hong Kong ETF (EWH)

FDB Holdings Limited Business Overview & Revenue Model

Company DescriptionFDB Holdings Limited provides contracting and project management services in Hong Kong. It offers contracting services for alteration and addition works, maintenance, specialist works, and new development. The company was formerly known as Steering Holdings Limited and changed its name to FDB Holdings Limited in April 2022. FDB Holdings Limited was incorporated in 2015 and is headquartered in Wan Chai, Hong Kong.
How the Company Makes MoneyFDB Holdings generates revenue through multiple key streams, primarily from rental income derived from its portfolio of properties, which includes residential units and commercial spaces. Additionally, the company earns income from property sales, particularly in the residential sector, where it develops and sells new housing projects. Partnerships with construction firms and real estate agencies also contribute to its earnings, as they enable efficient project execution and marketing. Furthermore, FDB Holdings may engage in property management services for third-party owners, providing maintenance and operational services for a fee, thereby diversifying its revenue base.

FDB Holdings Limited Financial Statement Overview

Summary
Weak fundamentals: volatile and declining revenue with inconsistent/negative margins, negative stockholders’ equity indicating solvency risk, and recent negative free cash flow with operating cash outflows.
Income Statement
45
Neutral
The income statement shows a volatile performance with significant fluctuations in revenue and profitability. The company experienced a dramatic decline in revenue from 2019 to 2023, with a slight recovery in 2024. Gross profit margin and net profit margin have been inconsistent, with negative values in several years, indicating challenges in maintaining profitability. The EBIT and EBITDA margins have also been unstable, reflecting operational difficulties.
Balance Sheet
30
Negative
The balance sheet reveals a concerning financial structure, with negative stockholders' equity in recent years, indicating potential solvency issues. The debt-to-equity ratio is not meaningful due to negative equity, and the equity ratio is negative, highlighting financial instability. Return on equity is also not applicable due to negative equity, suggesting a need for financial restructuring.
Cash Flow
40
Negative
Cash flow analysis indicates negative free cash flow in recent years, with significant operating cash outflows. The operating cash flow to net income ratio is not favorable, suggesting inefficiencies in converting income to cash. Free cash flow to net income ratio is also negative, reflecting challenges in generating cash from operations.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue538.76M468.46M193.77M357.15M382.27M411.86M
Gross Profit9.30M17.30M-7.15M7.33M-29.92M-9.05M
EBITDA175.50K12.22M-56.41M1.14M-62.53M-49.64M
Net Income1.76M9.87M-59.28M-969.00K40.10M-245.03M
Balance Sheet
Total Assets166.01M169.40M196.53M226.86M240.88M407.06M
Cash, Cash Equivalents and Short-Term Investments5.37M32.60M35.21M31.59M9.55M37.92M
Total Debt20.29M10.01M12.92M599.00K4.38M12.01M
Total Liabilities171.72M169.94M206.95M177.99M190.98M404.75M
Stockholders Equity-5.71M-548.00K-10.42M48.87M49.78M27.37M
Cash Flow
Free Cash Flow-10.43M-27.30M-19.92M31.51M-29.92M-100.45M
Operating Cash Flow-10.36M-27.25M-19.77M32.20M-29.67M-99.43M
Investing Cash Flow2.45M16.29M-2.51M-16.73M27.64M9.01M
Financing Cash Flow1.21M871.00K25.90M5.18M-10.53M-60.25M

FDB Holdings Limited Technical Analysis

Technical Analysis Sentiment
Positive
Last Price0.10
Price Trends
50DMA
0.11
Positive
100DMA
0.09
Positive
200DMA
0.08
Positive
Market Momentum
MACD
0.02
Positive
RSI
69.52
Neutral
STOCH
47.71
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1826, the sentiment is Positive. The current price of 0.1 is below the 20-day moving average (MA) of 0.18, below the 50-day MA of 0.11, and above the 200-day MA of 0.08, indicating a bullish trend. The MACD of 0.02 indicates Positive momentum. The RSI at 69.52 is Neutral, neither overbought nor oversold. The STOCH value of 47.71 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:1826.

FDB Holdings Limited Peers Comparison

Overall Rating
UnderperformOutperform
Sector (63)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
63
Neutral
$10.79B15.437.44%2.01%2.89%-14.66%
59
Neutral
HK$132.00M12.944.53%-40.54%
53
Neutral
HK$130.50M-7.19-14.78%-28.21%34.59%
50
Neutral
HK$91.00M-6.55-4.84%71.16%-67.47%
49
Neutral
HK$117.60M196.000.18%-2.05%
44
Neutral
HK$259.74M-487.5011.52%98.72%
43
Neutral
HK$76.96M-2.41-19.00%48.86%54.49%
* Industrials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
HK:1826
FDB Holdings Limited
0.20
0.14
242.11%
HK:1472
Sang Hing Holdings (International) Ltd.
0.09
0.04
85.71%
HK:1630
Kin Shing Holdings Ltd.
0.09
0.03
64.15%
HK:1637
SH Group (Holdings) Limited
0.33
0.21
179.66%
HK:2195
Unity Enterprise Holdings Limited
0.46
-0.16
-26.61%
HK:3789
Royal Deluxe Holdings Ltd.
0.10
0.04
63.33%

FDB Holdings Limited Corporate Events

FDB Holdings Extends Deadline for Completion of New Share Placing
Jan 23, 2026

FDB Holdings Limited has agreed with its placing agent to extend the long stop date for completing a placing of new shares under its existing general mandate, moving the deadline from 28 January 2026 to 11 February 2026 to allow additional time to satisfy the conditions precedent in the placing agreement. All other terms of the placing remain unchanged, and the company has cautioned that completion is still conditional and may not proceed, signaling continued uncertainty for shareholders and potential investors over the timing and outcome of this planned equity fundraising.

The most recent analyst rating on (HK:1826) stock is a Hold with a HK$0.20 price target. To see the full list of analyst forecasts on FDB Holdings Limited stock, see the HK:1826 Stock Forecast page.

FDB Holdings Moves to Restore Public Float After Stake Increase by Controlling Shareholder
Jan 20, 2026

FDB Holdings Limited has disclosed that its public float has fallen to about 22.17% of its issued share capital, below the 25% minimum required under Hong Kong listing rules, after controlling shareholder Masterveyor Holdings Limited increased its stake from 56.08% to 62.09% through the acquisition of 80,070,000 shares. The company attributes the shortfall mainly to an oversight in applying rules governing who qualifies as public shareholders, but maintains there is still an open market for its shares and plans to rectify the situation through a placing of new shares; upon completion of the placing, the public float is expected to rise to approximately 35.14%, restoring compliance and easing regulatory concerns for investors and the exchange.

The most recent analyst rating on (HK:1826) stock is a Hold with a HK$0.17 price target. To see the full list of analyst forecasts on FDB Holdings Limited stock, see the HK:1826 Stock Forecast page.

FDB Holdings Slightly Raises Placing Price, Targets HK$39.9 Million for Expansion and Balance Sheet Support
Jan 13, 2026

FDB Holdings Limited has entered into a supplemental placing agreement to slightly increase the placing price of new shares from HK$0.152 to HK$0.153 per share under its general mandate, representing a 19.5% discount to the last closing price but a small premium to the recent five-day average. The revised placing is expected to raise gross proceeds of about HK$40.8 million and net proceeds of approximately HK$39.9 million, which the company plans to deploy across headquarters expansion and upgrades, salary support for business growth, covering shareholders’ deficit, professional fees and other operating expenses, signalling an effort to strengthen its financial position and operational capacity while resuming trading in its shares after a temporary halt.

The most recent analyst rating on (HK:1826) stock is a Hold with a HK$0.18 price target. To see the full list of analyst forecasts on FDB Holdings Limited stock, see the HK:1826 Stock Forecast page.

FDB Holdings Requests Trading Halt Pending Inside Information Announcement
Jan 13, 2026

FDB Holdings Limited has requested a trading halt of its shares on the Hong Kong Stock Exchange, effective from 9:00 a.m. on 13 January 2026. The suspension comes as the company prepares to release an announcement containing inside information and details of an amendment to the placing price under a placing agreement dated 12 January 2026, signaling a potentially material development for its capital-raising plans and creating near-term uncertainty for investors until further disclosure is made.

The most recent analyst rating on (HK:1826) stock is a Hold with a HK$0.18 price target. To see the full list of analyst forecasts on FDB Holdings Limited stock, see the HK:1826 Stock Forecast page.

FDB Holdings Seeks Up to HK$40.5 Million via Discounted Share Placing
Jan 12, 2026

FDB Holdings Limited plans to raise up to HK$40.5 million through a private placing of up to 266.4 million new shares under its existing general mandate. The new shares, representing about 20% of the current issued share capital and roughly 16.67% of the enlarged capital, will be placed to at least six independent investors at HK$0.152 per share, a roughly 19.9% discount to the last closing price but slightly above the recent five‑day average, subject to listing approval and other conditions, and will modestly dilute existing shareholders while strengthening the company’s capital base.

The most recent analyst rating on (HK:1826) stock is a Hold with a HK$0.18 price target. To see the full list of analyst forecasts on FDB Holdings Limited stock, see the HK:1826 Stock Forecast page.

FDB Holdings Updates Board Composition and Committee Roles
Jan 5, 2026

FDB Holdings Limited, incorporated in the Cayman Islands and listed in Hong Kong, operates under a board structure that combines executive and independent non-executive directors to provide corporate oversight and governance for its business.

The company has announced an updated board composition effective 5 January 2026, confirming Mr. Ng Kin Siu as chairman and chief executive officer alongside executive director Mr. Yu Hongxiang, and three independent non-executive directors: Ms. Ng Chung Chi, Mr. Wong Chun Wah Kelvin and Ms. Ren Yu. The board maintains three key governance committees—audit, remuneration and nomination—with Ms. Ng chairing the audit committee and serving on the nomination committee, Mr. Ng chairing both the remuneration and nomination committees, and Mr. Wong and Ms. Ren serving as members across all three committees, underscoring a continued emphasis on structured oversight and independent supervision of financial reporting, pay policy and board appointments.

The most recent analyst rating on (HK:1826) stock is a Hold with a HK$0.07 price target. To see the full list of analyst forecasts on FDB Holdings Limited stock, see the HK:1826 Stock Forecast page.

FDB Holdings Reshapes Board as Major Shareholder Joins as Executive Director
Jan 5, 2026

FDB Holdings Limited has reshaped its board and committee structure with effect from 5 January 2026, appointing major shareholder Yu Hongxiang as an executive director and adding Ren Yu as an independent non-executive director while accepting the resignation of independent non-executive director Siu Wilson Wai Lum for personal reasons. The changes bring Yu, who indirectly holds about 29.5% of the company’s issued share capital, formally into executive management under a three-year service contract, while Ren assumes key roles on the audit, remuneration and nomination committees, helping to maintain independent oversight and continuity in corporate governance following Siu’s departure, which the company says involved no disagreement with the board.

The most recent analyst rating on (HK:1826) stock is a Hold with a HK$0.07 price target. To see the full list of analyst forecasts on FDB Holdings Limited stock, see the HK:1826 Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jan 16, 2026