Annual Report 2024

NOTESTOTHE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2024 90 The United Laboratories International Holdings Limited Annual Report 2024 8. FINANCE COSTS 2024 2023 RMB’000 RMB’000 Interest on borrowings 74,608 81,974 Interest on lease liabilities 759 443 75,367 82,417 Less: amounts capitalised in the cost of qualifying assets (40,409) (15,521) 34,958 66,896 Borrowing costs capitalised during the current year arose on the specific borrowing pool and general borrowing pool. The general borrowing costs have been capitalised at a rate of 3.40% (2023: 4.35%) per annum. 9. IMPAIRMENT LOSSES RECOGNISED (REVERSED) UNDER EXPECTED CREDIT LOSS MODEL, NET 2024 2023 RMB’000 RMB’000 Impairment losses recognised (reversed): – trade receivables 39,254 5,620 – banker’s acceptance bills receivables 19 (655) – other receivables 5,607 (552) – commercial bills receivables – (6,375) 44,880 (1,962) Details of impairment assessment are set out in Note 39.