Annual Report 2019

NOTESTOTHE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2019 146 The United Laboratories International Holdings Limited Annual Report 2019 41. FINANCIAL INSTRUMENTS (Continued) Financial risk management objectives and policies (Continued) Credit risk and impairment assessment (Continued) The following table shows the movement in lifetime ECL that has been recognised for trade receivables under the simplified approach. Lifetime Lifetime ECL ECL (not credit- (credit– impaired) impaired) Total RMB’000 RMB’000 RMB’000 As at 1 January 2018 – 19,212 19,212 Changes due to trade receivables recognised as at 1 January 2018: Impairment losses reversed – (19,212) (19,212) Newly originated trade receivables 25,518 – 25,518 As at 31 December 2018 25,518 – 25,518 Changes due to trade receivables recognised as at 1 January 2019: Impairment losses reversed (25,518) – (25,518) Newly originated trade receivables 23,167 – 23,167 As at 31 December 2019 23,167 – 23,167