Annual Report 2021

NOTESTOTHE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2021 112 The United Laboratories International Holdings Limited Annual Report 2021 23. TRADE AND BILLS RECEIVABLES, OTHER RECEIVABLES, DEPOSITS AND PREPAYMENTS (Continued) At 31 December 2021, out of the total bills receivables of RMB1,821,768,000 (2020: RMB1,343,365,000), bills of RMB18,353,000 (2020: RMB26,493,000) and RMB295,282,000 (2020: RMB341,058,000) were further discounted to banks and endorsed to suppliers respectively with full recourse (Note 23). The Group continues to recognise their full carrying amounts at the end of the reporting period and details are disclosed below. All bills received by the Group are with a maturity period of less than one year. At 31 December 2021, included in the Group’s trade receivables balance are debtors with aggregate carrying amount of RMB352,348,000 (2020: RMB183,334,000) which are past due at the reporting date. Out of the past due balances, RMB9,992,000 (2020: nil) has been past due 90 days or more. The directors of the Company are in the view that there have been no significant increase in credit risk nor default because based on historical settlement records, past experience, and also quantitative and qualitative information that is reasonable and supportive forward-looking information. The Group does not hold any collateral over these balances. Details of impairment assessment of trade receivables, commercial bills receivables, consideration receivables and other receivables are set out in Note 38.