Annual Report 2024

NOTESTOTHE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2024 117 The United Laboratories International Holdings Limited Annual Report 2024 30. DEFERRED TAXATION The followings are the deferred tax assets (liabilities) recognised and movements thereon for the current and prior years: Withholding tax on undistributed Accelerated Unrealised profits of accounting profit on the PRC depreciation inventories subsidiaries Total RMB’000 RMB’000 RMB’000 RMB’000 At 1 January 2023 63,079 16,951 (194,069) (114,039) (Charge) credit to profit or loss for the year (2,881) 3,651 (94,011) (93,241) At 31 December 2023 60,198 20,602 (288,080) (207,280) (Charge) credit to profit or loss for the year (5,228) (1,891) 5,588 (1,531) At 31 December 2024 54,970 18,711 (282,492) (208,811) The following is the analysis of the deferred tax balances for financial reporting purpose: 2024 2023 RMB’000 RMB’000 Deferred tax assets 73,681 80,800 Deferred tax liabilities (282,492) (288,080) (208,811) (207,280)