Annual Report 2024

NOTESTOTHE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2024 108 The United Laboratories International Holdings Limited Annual Report 2024 23. INVENTORIES 2024 2023 RMB’000 RMB’000 Raw materials 723,914 775,573 Work in progress 290,269 269,695 Finished goods 1,419,983 1,193,215 2,434,166 2,238,483 24. TRADE AND BILLS RECEIVABLES, OTHER RECEIVABLES, DEPOSITS AND PREPAYMENTS 2024 2023 RMB’000 RMB’000 Trade receivables from contracts with customers 2,406,076 2,378,638 Less: allowance for credit losses (13,166) (12,459) Banker’s acceptance bills receivables 3,333,266 3,496,731 Less: allowance for credit losses (212) (193) Consideration receivables (Note 10) 339,574 339,574 Less: allowance for credit losses (339,574) (339,574) Value added tax receivables 235,963 141,454 Other receivables, deposits and prepayments 321,947 316,253 Less: allowance for credit losses (11,551) (5,944) 6,272,323 6,314,480 At 1 January 2023, gross carrying amount of trade receivables from contracts with customers amounted to RMB2,110,751,000. The Group normally allows a credit period ranging from 45 days to 180 days (2023: 45 days to 120 days) to its trade customers, and may be extended to selected customers subject to their trade volume and historical settlement records with the Group. The banker’s acceptance bills receivables have a general maturity period of between 90 days and 1 year (2023: between 90 days and 1 year).