Annual Report 2022

NOTESTOTHE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2022 147 The United Laboratories International Holdings Limited Annual Report 2022 38. FINANCIAL INSTRUMENTS (Continued) Financial risk management objectives and policies (Continued) Liquidity risk (Continued) Weighted On demand 3 months Total average or less than 1-3 to 1-5 undiscounted Carrying interest rate 1 month months 1 year years cash flows amount % RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 At 31 December 2021 Trade and other payables – 715,054 2,006,609 871,396 – 3,593,059 3,593,059 Borrowings – floating-rate 2.12 558,046 39,522 1,022,181 225,449 1,845,198 1,812,765 – fixed-rate 2.57 5,886 7,514 5,077 – 18,477 18,353 Lease liabilities 6.32 276 865 3,274 7,738 12,153 10,996 1,279,262 2,054,510 1,901,928 233,187 5,468,887 5,435,173 Derivative – gross settlement Cross currency interest rate swaps – inflow – 1,930 3,451 861,484 – 866,865 866,865 – outflow – (2,111) (3,774) (866,792) – (872,677) (872,677) (181) (323) (5,308) – (5,812) (5,812) The table below summarises the maturity analysis of term loans of RMB1,010,851,000 (2021: RMB555,583,000) with a repayment on demand clause based on the agreed scheduled repayments set out in the loan agreements at 31 December 2022 and 2021. The amounts include interest payments computed using the specified fixed rates or variable rates. As a result, these amounts are greater than the amounts disclosed in the “on demand” time band in the maturity analysis above. Taking into account the Group’s financial position, the directors of the Company do not consider that it is probable that the banks will exercise its discretion to demand immediate repayment. The directors of the Company believe that such term loans will be repaid in accordance with the scheduled repayment dates set out in the loan agreements. Maturity Analysis – Bank loans with a repayment on demand clause based on scheduled repayments Total Less than 3 months to 1-5 undiscounted Carrying 1 month 1-3 months 1 year years cash outflows amount RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 31 December 2022 3,586 7,172 156,303 934,297 1,101,358 1,010,851 31 December 2021 700 1,400 275,114 295,397 572,611 555,583