Annual Report 2023

NOTESTOTHE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2023 143 The United Laboratories International Holdings Limited Annual Report 2023 39. FINANCIAL INSTRUMENTS (Continued) Financial risk management objectives and policies (Continued) Liquidity risk (Continued) Weighted On demand 3 months Total average or less than 1–3 to 1–5 undiscounted Carrying interest rate 1 month months 1 year years cash flows amount % RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 At 31 December 2022 Trade and other payables – 820,516 1,864,450 1,310,136 – 3,995,102 3,995,102 Borrowings – floating-rate 4.74 1,015,848 9,993 131,725 1,189,025 2,346,591 2,203,769 - fixed-rate 1.59 35,888 69,618 147,336 – 252,842 251,378 Lease liabilities 6.33 234 780 3,071 4,210 8,295 7,640 1,872,486 1,944,841 1,592,268 1,193,235 6,602,830 6,457,889 Derivative – net settlement Foreign currency forward contract 4.59 – – 10,480 – 10,480 10,087 The table below summarises the maturity analysis of term loans of RMB80,000,000 (2022: RMB1,010,851,000) with a repayment on demand clause based on the agreed scheduled repayments set out in the loan agreements at 31 December 2023 and 2022. The amounts include interest payments computed using the specified fixed rates or variable rates. As a result, these amounts are greater than the amounts disclosed in the “on demand” time band in the maturity analysis above. Taking into account the Group’s financial position, the directors of the Company do not consider that it is probable that the banks will exercise its discretion to demand immediate repayment. The directors of the Company believe that such term loans will be repaid in accordance with the scheduled repayment dates set out in the loan agreements. Maturity Analysis – Bank loans with a repayment on demand clause based on scheduled repayments Total Less than 3 months to 1–5 undiscounted Carrying 1 month 1–3 months 1 year years cash outflows amount RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 31 December 2023 240 480 80,720 – 81,440 80,000 31 December 2022 3,586 7,172 156,303 934,297 1,101,358 1,010,851