Annual Report 2025

NOTESTOTHE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2025 110 The United Laboratories International Holdings Limited Annual Report 2025 21. INTERESTS IN AN ASSOCIATE 2025 2024 RMB’000 RMB’000 Cost of investment in an associate 7,350 7,350 Share of post-acquisition loss and other comprehensive expense (289) (238) 7,061 7,112 Details of the Group’s associate as at 31 December 2024 and 2025 are as follows: Name of an associate Place of incorporation/ principal place of business Proportion of ownership interest held by the Group Proportion of voting rights held by the Group Principal activity 2025 2024 2025 2024 寧波普邦生物科技有限公司 (“Ningbo Pubang”) The PRC 49% 49% 49% 49% Sale of veterinary drugs in PRC The Group has 49% ownership interest and voting rights in Ningbo Pubang. By considering that the Group has no sufficiently dominant voting rights to direct the relevant activities of Ningbo Pubang unilaterally, the directors of the Group conclude that the Group only has significant influence over Ningbo Pubang and therefore it is classified as an associate of the Group.