Annual Report 2024

NOTESTOTHE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2024 139 The United Laboratories International Holdings Limited Annual Report 2024 39. FINANCIAL INSTRUMENTS (Continued) Financial risk management objectives and policies (Continued) Credit risk and impairment assessment (Continued) The following table shows the movement in ECL that has been recognised for consideration receivables, banker’s acceptance bills receivables and commercial bills receivables and other receivables. Lifetime ECL (credit- 12m ECL impaired) Total RMB’000 RMB’000 RMB’000 At 1 January 2023 13,719 339,574 353,293 Changes due to bills and other receivables recognised at 1 January 2023: – Impairment losses reversed (13,719) – (13,719) Newly originated bills and other receivables 6,137 – 6,137 At 31 December 2023 6,137 339,574 345,711 Changes due to bills and other receivables recognised at 1 January 2024: – Impairment losses reversed (6,137) – (6,137) Newly originated bills and other Receivables 11,763 – 11,763 At 31 December 2024 11,763 339,574 351,337