Annual Report 2019

NOTESTOTHE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2019 132 The United Laboratories International Holdings Limited Annual Report 2019 33. DEFERRED TAXATION (Continued) The following is the analysis of the deferred tax balances for financial reporting purpose: 2019 2018 RMB’000 RMB’000 Deferred tax assets 51,289 15,516 Deferred tax liabilities (77,803) (296,866) (26,514) (281,350) The Group’s unrecognised deductible temporary differences are as follows: 2019 2018 RMB’000 RMB’000 Tax losses carry forwards 1,091,833 990,283 During the years ended 31 December 2019 and 2018, no tax loss expired by respective local tax authorities. Included in unrecognised tax losses are losses of RMB581,559,000 (2018: RMB565,811,000) that will expire within five years. Other losses may be carried forward indefinitely. No deferred tax asset in respect of tax losses has been recognised because the amount of future taxable profit that will be available to realise such assets is uncertain. The unused tax losses will be expired as follow: 2019 2018 RMB’000 RMB’000 2021 438,119 442,007 2022 100,302 100,302 2023 23,502 23,502 2024 19,636 – 581,559 565,811