Annual Report 2020

NOTESTOTHE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2020 80 The United Laboratories International Holdings Limited Annual Report 2020 5. REVENUE AND SEGMENT INFORMATION (Continued) (i) Disaggregation of revenue from contracts with customers (Continued) For the year ended 31 December 2019 Intermediate Bulk Finished products medicine products Total Elimination Consolidated RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Types of products – 6-APA 876,272 – – 876,272 – 876,272 – Antibiotics products – 3,592,613 2,146,648 5,739,261 – 5,739,261 – Insulin Products – – 858,700 858,700 – 858,700 – Others 404,080 499 513,788 918,367 – 918,367 Revenue from contracts with customers 1,280,352 3,593,112 3,519,136 8,392,600 – 8,392,600 Inter-segment sales 1,516,838 533,695 – 2,050,533 (2,050,533) – Segment revenue 2,797,190 4,126,807 3,519,136 10,443,133 (2,050,533) 8,392,600 All of the Group’s revenue is recognised at a point in time during the years ended 31 December 2020 and 2019. (ii) Performance obligations for contracts with customers Revenue is recognised at a point of time when control of the goods has been transferred, being when the goods have been delivered to port of discharge or the customer’s specific location as stipulated in the sales agreement. The Group satisfied its performance obligations upon shipment or upon delivery in accordance with the contract signed with customers, who start to bear the risks of obsolescence and loss in relation to the goods. (iii) Transaction price allocated to the remaining performance obligation for contracts with customers Contracts for sale of pharmaceutical products are typically non-cancellable. The contracts for sales of products have expected duration of one year or less. As permitted under HKFRS 15, the transaction price allocated to these unsatisfied contracts is not disclosed.