Annual Report 2024

NOTESTOTHE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2024 140 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) Changes in the loss allowance for bills and other receivables are mainly due to: 2024 2023 Increase Increase (decrease) in (decrease) in 12m ECL 12m ECL RMB’000 RMB’000 Newly originated other receivables balance with gross amount of RMB106,454,000 (2023: RMB97,250,000) 11,551 5,944 Settlement in full of other receivables with a gross carrying amount of RMB97,250,000 (2023: RMB91,970,000) (5,944) (6,496) Newly originated banker’s acceptance bills receivables balance with gross amount of RMB3,333,266,000 (2023: RMB3,496,731,000) 212 193 Settlement in full of banker’s acceptance bills receivables balance with gross amount of RMB3,496,731,000 (2023: RMB2,360,224,000) (193) (848) Settlement in full of commercial bills receivables balance with gross amount of RMBnil (2023: RMB18,909,000) – (6,375)