Thanks to HiBy for sending us a sample FD5 in exchange for an honest and un-scripted review. Your ongoing support is greatly appreciated.
When HiBy announced they were releasing their first desktop device, the $429 FD5, I was both surprised and excited.
Regardless of how advanced and powerful portable DAPs have become, even spending upwards of $3,000 on HiBy’s flagship RS8 won’t overcome the space constraints that hinder the power output and component isolation ability of a smaller portable device.
These constraints are far less problematic in a desktop device, especially one with a separate, isolated and dedicated power supply like the cleverly-designed FD5. This means bigger capacitors, more room to shield sensitive audio components from each other – and from external interference – and the benefits all of these bring to power output, background noise and overall driveability.

Having recently reviewed numerous ‘budget’ DAPs from HiBy, I have the sense the company is focusing more of its know-how on creating mass-appeal products, and when I saw FD5, I realised it was going to be more of the same. That’s not to say anything about its performance, mind you, only that I didn’t think it would be aiming for the high-end.
As it turns out, I was both right and wrong. While following a similar design language to the entry-level R4 DAP (reviewed here), FD5 includes numerous features that push it well into, and sometimes even beyond, mid-fi DAP territory. More on this later, but it may surprise you to know that the amp section in the FD5 is almost identical to that of the R8 II (reviewed here), a $2,000 DAP no less.
So where does this leave FD5, and who would a device like this most appeal to? Let’s find out.

Packaging and accessories
FD5’s solid carboard packaging is reminiscent of the ‘cyberpunk’ theme introduced with R4. The black two-part box has an angular green ‘divider’ in the middle, and opens up like a clam to reveal the two FD5 chassis sections housed vertically inside solid foam cutouts.
A third cut-out holds the accessory box, in which you’ll find a USB-A to C cable for connecting the FD5’s DAC section to a computer or portable source; a 3.5mm male to 6.35” female up-conversion cable for single-ended headphones; and a basic warranty card, QC card and quick start guide.
Nothing fancy here, as expected at this price point. I would have liked to see a 4.4mm to XLR adapter, given HiBy touts FD5’s fully-balanced Class A headphone amp, but I can understand that some niceties had to be left on the cutting room floor.

Specs and design
Considering how relatively small HiBy managed to make FD5, the internal specs are rather impressive.
It has a powerful compact amp, pushing more than 1.5 watts of pure Class A (and also AB) power into 32 ohms from its balanced headphone outputs. It also has an array of four AK4493SEQ DACs implemented in mono configuration (for minimum crosstalk), and a completely separate, galvanically-isolated power supply section that clamps both physically and magnetically to the audio unit above.
Indeed, the spec sheet makes for some interesting reading:
- All-metal and glass design
- Two-part coupled/magnetic stacking chassis
- Isolated linear/filtered/regenerative power supply
- 10 ELNA SIMLIC II power supply capacitors
- 1523mW balanced output (475mW single-ended), 32 ohms
- 6x OPA1612 op-amps
- 32 fully-discrete and matched amplification capacitors
- 0.0004% balanced THD
- 125dB balanced SNR
- 127dB balanced dynamic range
- 106dB balanced crosstalk rejection
- Dual femtosecond crystal oscillators with FPGA
- 4x AK4493SEQ DACs (in mono array)
- PCM768/DSD512 native audio format support
- 3.5mm SE and 4.4mm balanced dedicated headphone/line-out ports
- Hi-res Bluetooth input (including LDAC and UAT)
- Colour OLED smart display
- 115mmx115mmx53mm, 698g

Looking through that list you’ll be forgiven for questioning how so much power and so many features, normally reserved for far larger and pricier components, could be made to fit into relatively diminutive desktop DAC/amp stack that retails below $500. But here we are.
HiBy is clearly intent on taking the same aggressive price-performance model it adopted ever since the highly-competitive R6 Pro II was released for $749, and subsequent ‘budget’ portables for much, much less, and bringing that to the desktop space.
While FD5 may not be targeting more serious desktop purists from the start, it’s still making use of some higher-end smarts. The amp alone, for instance, takes the successful amp stage of the R8 II, doubles the SIMLIC capacitors inside, and packs it into a device that costs less than a quarter of the price of the R8 II itself.

Regardless of what you might think of the cyberpunk look and feel – design is subjective after all – you can’t argue the build quality is exceptional.
The glass and metal frame are seamlessly fused together, perfectly mitred and finished, and the two-part chassis connects with a solid ‘click’ and reassuring magnetic pull. Not that I’ve tried vigorously shaking it apart (don’t try this at home!), but a moderate shake didn’t budge the two parts even slightly.
Then there’s the anodised army-green plating, again subjective but smooth and cool to the touch, and an oversized volume wheel that glides ever-so smoothly and allows for the finest of adjustments in one-step increments. The function button (for cycling through connectivity options) is solid, as are the sliding levers for gain, amplification class and power.

Last but not least, the screen. This is not your ‘typical’ interface screen, and uses the various combinations of colours and OLED-resolved graphics to great effect. At a glance you can tell which settings are active, such as input type, output type, gain level, and amp class. Volume is clearly visible, with instant feedback of individual volume steps as you dial up or down.
You can also quickly tell which bitrates are being played back by the colour of the associated LEDs, and likewise the larger LED (highlighting the ‘5’) is used to denote Bluetooth and USB input respectively.

What’s missing? Two things, in my opinion. First, a remote control that lets you toggle different functions, either from the desk or sofa, and also adjust the volume. This would double-down on the functionality that FD5 is already capable of, and make it far more convenient to use. Second, a line-in option. With such a competent amp, it’s a pity you can’t use FD5 as a dedicated amp for more sophisticated portable DAPs.
But don’t let these ‘omissions’ distract from the overall feature set. For the money, FD5 already goes above and beyond what you’d reasonably expect to get, and then some.

Features and functions
I’ve already mentioned some of the many features of this versatile device above, but it’s worth describing a few of these in more detail.
To me, FD5 is a Swiss Army knife of a desktop DAC/amp. For starters, the isolated power supply is unique in some ways, at least at this price point and format, and since power noise is probably the number sound quality degrader in a desktop system, it’s refreshing to see that HiBy addressed this in the design from the start.
Second, Hi-Res Bluetooth is not something you’d typically find in many desktop DAC/amps. This feature alone means it can double as a stylish Hi-Fi Bluetooth receiver when connected an older Bluetooth-less home entertainment system or TV, for example. Then, with dual line-outs, you can even use it as a standalone DAC/amp for active speakers or studio monitors.

One of the benefits of desktop amplification, when done well, is its ability to drive both sensitive IEMs and less sensitive headphones, and FD5 excels with both. Even with my most sensitive IEMs, there was no semblance of hiss or background noise during quieter music passages in both low and high gain modes, although it’s worth mentioning my tinnitus makes me less sensitive than some to amp noise.
On the flipside, the spec sheet doesn’t lie: this is a powerful amp, able to push my hardest-to-drive IEMs and even larger 70-ohm-plus headphones with ease, without ever going past the halfway volume mark in high gain.

On the DAC side, FD5 is instantly recognised as a playback device when connected by USB cable to my phone, HiBy DAPs, or MacBook Pro. Each device has its own way of controlling volume, but I generally set the source device to max output and control the volume with the FD5 wheel (which is why a remote would have been most welcome).
There are no DAC filters or EQ options, which some may find limiting, but which I didn’t miss in the least. There’s also built-in 16X hardware MQA unfold (or 8X, depending on the marketing slide), for those still wanting to dabble with that discredited and arguably pointless format.
Of course, none of the above, impressive as it seems, would matter one jot if FD5 didn’t back it up with solid sound quality, so let’s get listening and see where it lands.

Continue to sound impressions…