Annual Report 2025

NOTESTOTHE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2025 118 The United Laboratories International Holdings Limited Annual Report 2025 26. CONTRACT LIABILITIES 2025 2024 RMB’000 RMB’000 Receipts in advances from customers 76,785 96,119 At 1 January 2024, contract liabilities amounted to RMB115,584,000. The following table shows how much of the revenue recognised for the years relates to the contract liabilities at the beginning of the year: 2025 2024 RMB’000 RMB’000 Revenue recognised during the year 96,119 115,584 When the Group receives an amount from certain new customers before products are delivered to and received by the customer, this will give rise to a contract liability at the beginning of a contract. 27. LEASE LIABILITIES 2025 2024 RMB’000 RMB’000 Lease liabilities payable: Within one year 4,969 4,781 Within a period of more than one year but not more than two years 4,473 5,080 Within a period of more than two years but not exceeding five years 2,980 7,549 Within a period of more than five years – 38 12,422 17,448 Less: Amount due for settlement with 12 months shown under current liabilities (4,969) (4,781) Amount due for settlement after 12 months shown under non-current liabilities 7,453 12,667 The weighted average incremental borrowing rates applied to lease liabilities at 4.04% (2024: 4.8%).