Annual Report 2022

NOTESTOTHE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2022 118 The United Laboratories International Holdings Limited Annual Report 2022 25. PLEDGED BANK DEPOSIT, CASH AND CASH EQUIVALENTS Deposits amounting to RMB694,704,000 (2021: RMB827,389,000) have been placed in designated banks as part of the security provided for general short-term banking facilities granted to the Group by banks and are therefore classified as current assets. The range of effective interest rates of the pledged bank deposits at 31 December 2022 was 0.3% to 2.7% (2021: 0.3% to 1.3%) per annum. Cash and cash equivalents comprise cash held by the Group, bank balances and short-term bank deposits for the purpose of meeting the Group’s short term cash commitments. The range of effective interest rates of the bank balances was 0.01% to 3.7% (2021: 0.001% to 3.05%) per annum at 31 December 2022. The carrying amounts of the Group’s monetary assets denominated in foreign currency, i.e. currency other than the functional currency of the respective group entities at the end of the reporting period were as follows: 2022 2021 RMB’000 RMB’000 Pledged bank deposits and bank balances – HK$ 345,960 188,998 – USD 847,913 250,384 – Euro 21,100 55,577