Annual Report 2022

NOTESTOTHE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2022 87 The United Laboratories International Holdings Limited Annual Report 2022 5. REVENUE AND SEGMENT INFORMATION (Continued) (i) Disaggregation of revenue from contracts with customers (Continued) For the year ended 31 December 2021 Intermediate Bulk Finished products medicine products Total Elimination Consolidated RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Types of products – 6-APA 957,578 – – 957,578 – 957,578 – Antibiotics products – 3,960,900 2,305,244 6,266,144 – 6,266,144 – Insulin Products – – 1,342,450 1,342,450 – 1,342,450 – Others 742,759 7,675 386,832 1,137,266 – 1,137,266 Revenue from contracts with customers 1,700,337 3,968,575 4,034,526 9,703,438 – 9,703,438 Inter-segment sales 1,684,837 585,413 – 2,270,250 (2,270,250) – Segment revenue 3,385,174 4,553,988 4,034,526 11,973,688 (2,270,250) 9,703,438 All of the Group’s revenue is recognised at a point in time during the years ended 31 December 2022 and 2021. (ii) Performance obligations for contracts with customers Revenue is recognised at a point of time when control of the goods has been transferred, being when the goods have been delivered to port of discharge or the customer’s specific location as stipulated in the sales agreement. The Group satisfied its performance obligations upon shipment or upon delivery in accordance with the contract signed with customers, who start to bear the risks of obsolescence and loss in relation to the goods. (iii) Transaction price allocated to the remaining performance obligation for contracts with customers Contracts for sale of pharmaceutical products are typically non-cancellable. The contracts for sales of products have expected duration of one year or less. As permitted under HKFRS 15, the transaction price allocated to these unsatisfied contracts is not disclosed.