Annual Report 2021

NOTESTOTHE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2021 146 The United Laboratories International Holdings Limited Annual Report 2021 38. FINANCIAL INSTRUMENTS (Continued) Financial risk management objectives and policies (Continued) Liquidity risk (Continued) Weighted On demand 3 months Total average or less than 1 – 3 to 1 – 5 undiscounted Carrying interest rate 1 month months 1 year years cash flows amount % RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 At 31 December 2020 Trade and other payable – 290,655 1,900,426 709,523 – 2,900,604 2,900,604 Borrowings – floating-rate 3.45 17,484 34,873 830,936 1,364,784 2,248,077 2,128,158 – fixed-rate 2.40 4,098 9,029 68,981 – 82,108 81,493 Lease liabilities 6.25 159 318 1,264 – 1,741 1,686 312,396 1,944,646 1,610,704 1,364,784 5,232,530 5,111,941 Derivative – net settlement 3.30 – – – 4,858 4,858 4,573 The table below summarises the maturity analysis of term loans of RMB555,583,000 with a repayment on demand clause based on the agreed scheduled repayments set out in the loan agreements at 31 December 2021. The amounts include interest payments computed using the specified fixed rates or variable rates. As a result, these amounts are greater than the amounts disclosed in the “on demand” time band in the maturity analysis above. Taking into account the Group’s financial position, the directors of the Company do not consider that it is probable that the banks will exercise its discretion to demand immediate repayment. The directors of the Company believe that such term loans will be repaid in accordance with the scheduled repayment dates set out in the loan agreements. Maturity Analysis – Bank loans with a repayment on demand clause based on scheduled repayments Total Less than 3 months to 1 – 5 undiscounted Carrying 1 month 1 – 3 months 1 year years cash outflows amount RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 31 December 2021 – – 40,709 500,351 541,060 555,583 The amounts included above for variable interest rate instruments for non-derivative financial liabilities is subject to change if changes in variable interest rates differ to those estimates of interest rates determined at the end of the reporting period.