Annual Report 2022

NOTESTOTHE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2022 144 The United Laboratories International Holdings Limited Annual Report 2022 38. FINANCIAL INSTRUMENTS (Continued) Financial risk management objectives and policies (Continued) Credit risk and impairment assessment (Continued) The following table shows the movement in ECL that has been recognised for consideration receivables, banker’s acceptance bills receivables and commercial bills receivables and other receivables. 12m ECL Lifetime ECL (not credit- impaired) Lifetime ECL (credit- impaired) Total RMB’000 RMB’000 RMB’000 RMB’000 At 1 January 2021 5,700 80,099 – 85,799 Changes due to other receivables recognised at 1 January 2021: – Transfer to credit-impaired – (44,709) 44,709 – – Impairment losses reversed (5,700) (5,185) – (10,885) – Written off – (30,205) – (30,205) – Impairment losses recognised – – 294,865 294,865 Newly originated other receivables 9,967 – – 9,967 At 31 December 2021 9,967 – 339,574 349,541 Changes due to bills and other receivables recognised at 1 January 2022: – Impairment losses reversed (9,967) – – (9,967) Newly originated bills and other receivables 13,719 – – 13,719 At 31 December 2022 13,719 – 339,574 353,293