Annual Report 2020

NOTESTOTHE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2020 110 The United Laboratories International Holdings Limited Annual Report 2020 24. TRADE AND BILLS RECEIVABLES, OTHER RECEIVABLES, DEPOSITS AND PREPAYMENTS 2020 2019 RMB’000 RMB’000 Trade receivables 1,420,450 1,241,536 Bills receivables 1,343,365 1,354,984 Consideration receivables (Note 10) 308,388 773,693 Commercial bills receivables (Note 43) 244,110 – Value added tax receivables 93,924 59,045 Other receivables, deposits and prepayments 160,437 127,758 Less: allowances for credit losses – trade (19,697) (23,167) – non-trade (85,799) (16,417) 3,465,178 3,517,432 Less: Amount due within one year (3,359,499) (3,241,069) Amount due after one year 105,679 276,363 At 1 January 2019, carrying amount of trade receivables from contracts with customers amounted to RMB1,134,749,000. The Group normally allows a credit period of 60 days on average to its trade customers, and may be extended to selected customers depending on their trade volume and settlement with the Group. The bills receivables have a general maturity period of between 90 days and 180 days.