Annual Report 2021

NOTESTOTHE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2021 87 The United Laboratories International Holdings Limited Annual Report 2021 5. REVENUE AND SEGMENT INFORMATION (Continued) Segment information (Continued) (a) Segment revenue and results (Continued) Measurement The accounting policies of the reportable segments are the same as the Group’s accounting policies described in Note 3.2. Performance is measured based on segment results that is used by the CODM for the purposes of resource allocation and assessment of segment performance. Taxation is not allocated to reportable segments. Other than the segment revenue and segment results analysis presented above, information about assets and liabilities was not regularly provided to the CODM. Hence, no segment asset or segment liability information is presented. Inter-segment revenue is charged at prevailing market rates. Reportable segment results represent the profit earned by each segment without allocation of certain other income, corporate expenses and other gains and losses (net), impairment losses under expected credit loss model (net of reversal), loss on fair value change of embedded derivative components of convertible bonds and finance costs.