FDB HOLDINGS (01826) has announced that the group expects to record a net loss of approximately HKD 20 million to HKD 25 million for the fiscal year ending December 31, 2025. This contrasts with a net profit of about HKD 9.9 million achieved in the 2024 fiscal year. The projected net loss is primarily attributed to a reduction in new projects and a decline in the profitability of existing contracts, both resulting from unfavorable conditions in the construction market. Additionally, increased contracting-related expenses have further compressed profit margins. The financial performance was also impacted by a significant rise in expected credit loss provisions, driven by an expanded credit risk exposure and a higher balance of accounts receivable. Consequently, the group is expected to report a net loss for 2025, compared to the net profit recorded in 2024.