Annual Report 2021

NOTESTOTHE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2021 119 The United Laboratories International Holdings Limited Annual Report 2021 28. BORROWINGS (Continued) Interest rate 2021 2020 RMB’000 RMB’000 Fixed rate 18,353 81,493 HIBOR plus 1.35% to 2.20% (2020: HIBOR plus 2.20% to 2.35%) 1,559,791 1,687,315 PRC Loan Prime Rate (“LPR”) (LPR plus 0.5% to 0.86%) (2020: LPR plus 0.5% to 0.86%) 55,536 193,475 LIBOR plus 2.00% (2020: LIBOR plus 2.00%) 133,658 247,368 Secured Overnight Financing Rate (“SOFR”) plus 1.00% (2020: nil) 63,780 – 1,831,118 2,209,651 The range of effective interest rates of the floating rate borrowings at 31 December 2021 is 1.05% to 4.71% (2020: 2.00% to 4.71%) per annum. The range of effective interest rates of the fixed rate borrowings at 31 December 2021 is 1.40% to 2.79% (2020: 2.05% to 5.85%) per annum. During the year ended 31 December 2021, other loans of RMB55,536,000 (2020: RMB193,475,000) has been advanced from other financing institutions, independent third parties not connected to the Group, which is subject to floating interest rate and secured by plant and machinery with carrying amount of RMB333,161,000 (2020: RMB732,029,000). At 31 December 2021, deposits of RMB24,000,000 (2020: RMB24,000,000), which are interest-free, were pledged to respective financing institutions. The balance of RMB24,000,000 has been included in current assets as the deposits will be released within one year from the end of the reporting period. Other than borrowings of RMB1,559,791,000 (2020: RMB1,687,315,000), RMB133,658,000 (2020: RMB247,368,000) and RMB63,780,000 (2020: nil) are denominated in HK$, EUR and USD respectively, the remaining borrowings are all in RMB.