Annual Report 2022

CONSOLIDATED STATEMENT OF CASH FLOWS For the year ended 31 December 2022 48 The United Laboratories International Holdings Limited Annual Report 2022 2022 2021 RMB’000 RMB’000 Operating activities Profit before taxation 2,006,766 1,202,647 Adjustments for: (Reversal of write-down) write-down of inventories, net (1,561) 2,003 Write-down of deposits for property, plant and equipment 2,168 3,165 Impairment losses (reversed) recognised under expected credit loss model, net (11,718) 296,559 Imputed interest income from consideration receivables – (31,186) Amortisation of intangible assets 19,488 16,618 Depreciation of property, plant and equipment 521,834 593,150 Depreciation of right-of-use assets 11,109 11,089 Net gain on fair value changes of derivative financial instruments (37,730) (8,120) Gain on disposal of financial assets at fair value through profit and loss (17,973) – Finance costs 81,595 60,231 Release of government grants (17,447) (13,850) Bank interest income (70,737) (51,594) Share of results of an associate 189 – Net loss on disposal of property, plant and equipment 4,390 3,301 Written off of property, plant and equipment 78,176 16,080 Net unrealised foreign exchange loss (gain) 49,299 (62,081) Operating cash flows before movements in working capital 2,617,848 2,038,012 Increase in inventories (158,036) (577,530) Increase in trade and bills receivables, other receivables, deposits and prepayments (392,217) (860,374) Increase in trade and other payables 238,364 1,149,579 Increase in contract liabilities 24,431 29,830 Cash generated from operations 2,330,390 1,779,517 Income taxes paid (299,847) (236,966) Net cash from operating activities 2,030,543 1,542,551