Business Review China 31 December 2023, it achieved close to 90% committed occupancy for spaces designated for medical and healthcare. Chengdu East HSR Station, one of the key HSR stations in China, also grew its ridership to serve approximately 250,000 passengers daily, peaking at 450,000 passengers daily during the Spring Festival in 2023. As part of Perennial Holdings’ plan to expand its healthcare services offerings, the Company entered into a 40-60 joint venture with Yingkang Medical, a subsidiary of Haier Group, to operate the SuperiorMed Perennial Hospital spanning over 51,500 square metres ("sqm") within PIHMH Chengdu. SuperiorMed Perennial Hospital is a 350-bed General Hospital with wide-ranging healthcare services and medical specialties and sub-specialties, including oncology, internal medicine, surgery, gynaecology, paediatrics, intensive care, emergency medicine, rehabilitation, physical examination, stomatology and psychology. In FY2023, PIHMH Chengdu also secured another anchor tenant, Chengdu DongLei Brain Hospital, a branch of Donglei Brain Group, one of China’s first brain specialist groups consisting of specialist doctors in Neurology. Perennial Holdings also operates Perennial International Specialist Medical Centre Chengdu (“PISMC”) within PIHMH Chengdu. Widely recognised as one of the first specialist clinic concepts in China, PISMC registered a strong committed occupancy of 100% as at 31 December 2023. In the year, PISMC welcomed a key tenant, Pasteur Clinic, which specialises in pain management. The clinic is founded by a group of specialists from West China Hospital, one of the best public hospitals in Western China. PISMC has secured the license to house ‘Online Platform Hospitals’ to support its on-site hospitals and medical groups to provide both online and offline medical services. Additionally, PISMC assists to provide support for facility licensing and setup. Being part of PIHMH Chengdu has also enabled our medical service providers to practise in a healthcare ecosystem where services are provided seamlessly via centralised ancillary services, such as clinical laboratory, health screening centre and diagnostic imaging. ‘Online Platform Hospitals’ tenants operating at PISMC include Huize Yiyao Internet Hospital, Thoth Medical and Yujinxiang Internet Medical. Other than PIHMH Chengdu, Chengdu HSR TOD also comprises Plot C (“Chengdu Plot C”) and Plot D2 (“Chengdu Plot D2”). The former is undergoing planning approval submission, while the latter is pending construction completion. Towards the end of FY2023, Perennial Holdings officially introduced Tianjin HSR TOD as its second-generation healthcare-centric HSR TOD, offering integrated eldercare, medical care and hospitality components. An official ceremony was held to unveil the various Perennial-branded eldercare facilities, as well as Perennial-branded and Perennial co-branded medical facilities within Tianjin HSR TOD. The hotel brands, to be operated under a 49-51 Joint Venture (“JV”) with Minyoun Hospitality (“Hotel JV”), were also unveiled. Minyoun Hospitality is an established hotel operator and manager in China. Spanning 3.5 million sq ft and developed at a total investment cost of approximately S$1 billion, Tianjin HSR TOD is located in Xiqing District and adjacent to the Tianjin South HSR station, a key station positioned to serve the communities in the Jing-Jin-Ji megalopolis comprising Perennial Tianjin South HSR Integrated Healthcare and Business City 56 PERENNIAL HOLDINGS PRIVATE LIMITED
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