Annual Report 2024

NOTESTOTHE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2024 128 The United Laboratories International Holdings Limited Annual Report 2024 39. FINANCIAL INSTRUMENTS (Continued) Financial risk management objectives and policies (Continued) Market risk (Continued) Foreign currency risk (Continued) The carrying amounts of the Group’s net monetary assets and monetary liabilities denominated in foreign currency, i.e. currency other than the functional currency of the respective group entities, at the end of the reporting period are as follows: Assets Liabilities 2024 2023 2024 2023 RMB’000 RMB’000 RMB’000 RMB’000 USD 3,180,575 1,781,459 38,566 62,442 Euro 88,287 46,444 24,562 396 HK$ 59,898 102,819 8,477 1,439 Foreign currency sensitivity analysis The following table details the Group’s sensitivity to a 5% (2023: 5%) increase and decrease in RMB against the relevant foreign currencies. 5% is the sensitivity rate used which represents management’s assessment of the reasonably possible change in foreign currency exchange rate. The sensitivity analysis includes only outstanding foreign currency denominated monetary items and foreign currency forward contracts, and adjusts their translation at the end of the reporting period for a 5% change in foreign currency rates. A negative number below indicates an decrease in post-tax profit for both years where RMB strengthens 5% against the relevant foreign currencies. For a 5% weakening of RMB against the relevant foreign currencies, there would be an equal and opposite impact on the profit for both years.