Annual Report 2023

NOTESTOTHE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2023 141 The United Laboratories International Holdings Limited Annual Report 2023 39. FINANCIAL INSTRUMENTS (Continued) Financial risk management objectives and policies (Continued) Credit risk and impairment assessment (Continued) Changes in the loss allowance for bills and other receivables are mainly due to: 2023 2022 Increase (decrease) in 12m ECL Increase (decrease) in 12m ECL RMB’000 RMB’000 Newly originated other receivables balance with gross amount of RMB97,250,000 (2022: RMB91,970,000) 5,944 6,496 Settlement in full of other receivables with a gross carrying amount of RMB91,970,000 (2022: RMB1,610,012,000) (6,496) (9,967) Newly originated banker’s acceptance bills receivables balance with gross amount of RMB3,496,731,000 (2022: RMB2,360,224,000) 193 848 Settlement in full of banker’s acceptance bills receivables balance with gross amount of RMB2,360,224,000 (2022: RMB1,821,768,000) (848) – Newly originated commercial bills receivables balance with gross amount of RMB nil (2022: RMB18,909,000) – 6,375 Settlement in full of commercial bills receivables balance with gross amount of RMB18,909,000 (2022: RMB nil) (6,375) –