Annual Report 2024

NOTESTOTHE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2024 113 The United Laboratories International Holdings Limited Annual Report 2024 26. TRADE AND OTHER PAYABLES The Group normally receives credit terms of up to 120 days and 180 days for trade payables and trade payables under supplier finance arrangement respectively from its suppliers. The following is an analysis of the trade payables and trade payables under supplier finance arrangement by age, presented based on the invoice date or bills issuance date at the end of the reporting period: 2024 2023 RMB’000 RMB’000 Trade payables 0 to 90 days 1,560,814 1,906,603 91 to 180 days 513,876 323,501 Over 180 days 14,095 8,048 2,088,785 2,238,152 Trade payables under supplier finance arrangement (Note) 0 to 90 days 1,119,081 1,021,012 91 to 180 days 961,961 960,917 Over 180 days 5,229 – 2,086,271 1,981,929 Other payables and accruals 545,328 485,088 Other tax payable 170,511 143,899 Accrual of freight expense 128,975 78,729 Accrual of salary, staff welfare and unclaimed annual leave 250,147 214,411 Accrual of water, electricity fee & steam 550,825 345,045 Deferred income in respect of government grants (Note 34) 58,699 73,585 Payables in respect of the acquisition of property, plant and equipment 1,779,575 524,050 7,659,116 6,084,888 Less: Amount due within one year shown under current liabilities (7,636,911) (6,052,651) Amount shown under non-current liabilities 22,205 32,237 Note: These related to trade payables in which the Group has issued bills to the relevant suppliers for future settlement of trade payables. The Group continues to recognise these trade payables as the relevant banks are obliged to make payments only on due dates of the bills, under the same conditions as agreed with the suppliers without further extension. In the consolidated statement of cash flows, settlements of these bills are included within operating cash flows based on the nature of the arrangements.