Annual Report 2023

NOTESTOTHE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2023 112 The United Laboratories International Holdings Limited Annual Report 2023 25. PLEDGED BANK DEPOSITS, CASH AND CASH EQUIVALENTS Deposits amounting to RMB972,249,000 (2022: RMB694,704,000) have been placed in designated banks as part of the security provided for general short-term banking facilities granted to the Group by banks and are therefore classified as current assets. The range of effective interest rates of the pledged bank deposits at 31 December 2023 was 0.3% to 2.5% (2022: 0.3% to 2.7%) per annum. Cash and cash equivalents comprise cash held by the Group, bank balances and short-term bank deposits for the purpose of meeting the Group’s short term cash commitments. The range of effective interest rates of the bank balances was 0.2% to 3.6% (2022: 0.01% to 3.7%) per annum at 31 December 2023. The carrying amounts of the Group’s monetary assets denominated in foreign currency, i.e. currency other than the functional currency of the respective group entities at the end of the reporting period were as follows: 2023 2022 RMB’000 RMB’000 Pledged bank deposits and bank balances – HK$ 101,780 345,960 – USD 1,467,513 847,913 – Euro 6,812 21,100