Annual Report 2022

NOTESTOTHE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2022 145 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) Changes in the loss allowance for bills and other receivables are mainly due to: 31/12/2022 31/12/2021 Increase (decrease) in 12m ECL Increase (decrease) in 12m ECL Decrease in Lifetime ECL (not credit- impaired) Increase in Lifetime ECL (credit- impaired) RMB’000 RMB’000 RMB’000 RMB’000 One debtor with a gross carrying amount of nil (2021: RMB339,574,000) defaulted and transferred to credit impaired – – (44,709) 44,709 Additional ECL on one debtor with a gross carrying amount of nil (2021: RMB339,574,000) – – – 294,865 Settlement by one debtor with a gross carrying amount of nil (2021: RMB244,110,000) – – (5,185) – Written off of one debtor with a gross carrying amount of nil (2021: RMB244,110,000) – – (30,205) – Newly originated other receivables balance with gross amount of RMB91,970,000 (2021: RMB125,431,000) 6,496 9,967 – – Settlement in full of other receivables with a gross carrying amount of RMB125,431,000 (2021: RMB101,726,000) (9,967) (5,700) – – Newly originated banker’s acceptance bills receivables balance with gross amount of RMB2,360,224,000 (2021: RMB1,821,768,000) 848 – – – Newly originated commercial bills receivables balance with gross amount of RMB18,909,000 (2021: nil) 6,375 – – –