Annual Report 2022

NOTESTOTHE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2022 123 The United Laboratories International Holdings Limited Annual Report 2022 30. DEFERRED TAXATION The followings are the deferred tax assets (liabilities) recognised and movements thereon for the current and prior years: Withholding tax on undistributed Accelerated Unrealised profits of accounting profit on the PRC depreciation inventories subsidiaries Total RMB’000 RMB’000 RMB’000 RMB’000 At 1 January 2021 52,991 25,262 (119,582) (41,329) Credit (charge) to profit or loss for the year 11,509 (6,980) (52,727) (48,198) At 31 December 2021 64,500 18,282 (172,309) (89,527) Charge to profit or loss for the year (1,421) (1,331) (21,760) (24,512) At 31 December 2022 63,079 16,951 (194,069) (114,039) The following is the analysis of the deferred tax balances for financial reporting purpose: 2022 2021 RMB’000 RMB’000 Deferred tax assets 80,030 82,782 Deferred tax liabilities (194,069) (172,309) (114,039) (89,527)