Annual Report 2023

NOTESTOTHE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2023 108 The United Laboratories International Holdings Limited Annual Report 2023 22. FINANCIAL ASSET AT FAIR VALUE THROUGH PROFIT OR LOSS 2023 2022 RMB’000 RMB’000 Equity securities of unlisted investments, classified as non-current assets 500 500 The above unlisted equity investments represent the Group’s equity interest in a private entity established in the PRC, which are measured at FVTPL at the end of both reporting periods. 23. INVENTORIES 2023 2022 RMB’000 RMB’000 Raw materials 775,573 844,959 Work in progress 269,695 231,377 Finished goods 1,193,215 1,087,290 2,238,483 2,163,626 24. TRADE AND BILLS RECEIVABLES, OTHER RECEIVABLES, DEPOSITS AND PREPAYMENTS 2023 2022 RMB’000 RMB’000 Trade receivables from contracts with customers 2,378,638 2,110,751 Less: allowance for credit losses (12,459) (6,839) Banker’s acceptance bills receivables 3,496,731 2,360,224 Less: allowance for credit losses (193) (848) Commercial bills receivables – 18,909 Less: allowance for credit losses – (6,375) Consideration receivables (Note 10) 339,574 339,574 Less: allowance for credit losses (339,574) (339,574) Value added tax receivables 141,454 115,866 Other receivables, deposits and prepayments 316,253 326,512 Less: allowance for credit losses (5,944) (6,496) 6,314,480 4,911,704 At 1 January 2022, gross carrying amount of trade receivables from contracts with customers amounted to RMB1,624,198,000.