Annual Report 2023

NOTESTOTHE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2023 117 The United Laboratories International Holdings Limited Annual Report 2023 30. DEFERRED TAXATION The followings are the deferred tax assets (liabilities) recognised and movements thereon for the current and prior years: Withholding tax on undistributed Accelerated Unrealised profits of accounting profit on the PRC depreciation inventories subsidiaries Total RMB’000 RMB’000 RMB’000 RMB’000 At 1 January 2022 64,500 18,282 (172,309) (89,527) Charge to profit or loss for the year (1,421) (1,331) (21,760) (24,512) At 31 December 2022 63,079 16,951 (194,069) (114,039) (Charge) credit to profit or loss for the year (2,881) 3,651 (94,011) (93,241) At 31 December 2023 60,198 20,602 (288,080) (207,280) The following is the analysis of the deferred tax balances for financial reporting purpose: 2023 2022 RMB’000 RMB’000 Deferred tax assets 80,800 80,030 Deferred tax liabilities (288,080) (194,069) (207,280) (114,039)