Annual Report 2023

NOTESTOTHE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2023 129 The United Laboratories International Holdings Limited Annual Report 2023 39. FINANCIAL INSTRUMENTS (Continued) Financial risk management objectives and policies (Continued) Market risk (Continued) Foreign currency risk (Continued) The carrying amounts of the Group’s net monetary assets and monetary liabilities denominated in foreign currency, i.e. currency other than the functional currency of the respective group entities, at the end of the reporting period are as follows: Assets Liabilities 2023 2022 2023 2022 RMB’000 RMB’000 RMB’000 RMB’000 USD 1,781,459 1,156,506 62,442 44,837 Euro 46,444 30,453 396 160 HK$ 102,819 345,960 1,439 2,125,993 Foreign currency sensitivity analysis The following table details the Group’s sensitivity to a 5% (2022: 5%) increase and decrease in RMB against the relevant foreign currencies. 5% is the sensitivity rate used which represents management’s assessment of the reasonably possible change in foreign currency exchange rate. The sensitivity analysis includes only outstanding foreign currency denominated monetary items and foreign currency forward contracts, and adjusts their translation at the end of the reporting period for a 5% change in foreign currency rates. A positive (negative) number below indicates an increase (decrease) in post-tax profit for both years where RMB strengthens 5% against the relevant foreign currencies. For a 5% weakening of RMB against the relevant foreign currencies, there would be an equal and opposite impact on the profit for both years.