Annual Report 2020

NOTESTOTHE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2020 134 The United Laboratories International Holdings Limited Annual Report 2020 39. FINANCIAL INSTRUMENTS (Continued) Financial risk management objectives and policies (Continued) Credit risk and impairment assessment (Continued) The following table shows the movement in ECL that has been recognised for considerations receivables, commercial bills receivables and other receivables. Lifetime ECL (not credit- 12m ECL impaired) Total RMB’000 RMB’000 RMB’000 At 1 January 2019 6,411 – 6,411 Changes due to other receivables recognised at 1 January 2019: Impairment losses reversed (6,411) – (6,411) Newly originated other receivables 16,417 – 16,417 At 31 December 2019 16,417 – 16,417 Changes due to other receivables recognised at 1 January 2020: Impairment losses reversed (7,596) – (7,596) Transfer to lifetime ECL (not credit-impaired) (8,821) 8,821 – Impairment losses recognised – 71,278 71,278 Newly originated other receivables 5,700 – 5,700 At 31 December 2020 5,700 80,099 85,799