44 PERENNIAL HOLDINGS PRIVATE LIMITED At Perennial Tianjin, Perennial Holdings will focus on driving occupancy across its eldercare, medical care and hospitality components. It will also commence operations of its complementary retail component within the project. At PIHMH Chengdu, Perennial Holdings will continue to enhance the medical ecosystem by strengthening its branding, improving customer management and enhancing the quality of medical services and payment convenience to meet the diverse health needs of its customers. Perennial Holdings will also explore the development of a “platform hospital” to offer comprehensive diagnostic and treatment services, enabling customers to access services provided by PIHMH Chengdu and other medical institutions across China. Perennial Nursing Hospital and Perennial Eldercare Home at Kunming HSR TOD are expected to commence operations in mid-2025, completing the range of eldercare services offered. Concurrently, Perennial General Hospital, Rehabilitation Hospital and the five distinctive hotels are targeted to open progressively from 2025. At its Xi’an HSR TOD, facade and M&E works for Plot 4 will commence following the structural top-up of all towers. The development aims to secure a pre-sale permit for the commercial apartments, with sales set to launch in 2025. Construction for Plot 3 and Plot 5 is also expected to begin once the respective construction permits are obtained. The entire project is anticipated to be completed progressively from 2026 onwards. At the Perennial Chongqing East HSR International Healthcare and Business City, the on-ground team is working diligently to secure the necessary permits required to commence construction at Plot A8. Renshoutang is set to officially launch its eldercare business in Shanghai's Hongkou District, supported by a strong pipeline of committed projects and beds, following the successful operation of its senior canteen in 2024. The Company is dedicated to enhancing the quality of eldercare and medical services, with the goal of establishing itself as a leading eldercare service provider in the Yangtze River Delta region. The upcoming Perennial Jingxin Senior Care Home targets to complete interior fit-out and to commence operations in mid-2025. Concurrently, its community canteen, the first in the Beijing municipal administrative region, will leverage Wilmar International Limited's established network of food factories, central kitchens and supply chain to offer affordable and nutritious meals to residents in the precinct. PACVX will continue to improve occupancy rates and enhance its Alzheimer’s care services. The multidisciplinary team is developing a real-time customer feedback mechanism to better understand the needs of in-house senior residents and quickly adjust services accordingly. With growing market awareness of Alzheimer’s care, Perennial Holdings aims to set an industry benchmark at PACVX through its commitment to service excellence, smart care programmes and customer satisfaction. In Singapore, Perennial Holdings is working towards its targeted 2026 official opening of Parry Assisted Living Care. It is also working towards commencing operations of Jervois Wellness in 2H 2025. Perennial Holdings will continue to implement proactive management strategies to enhance the performance of its operational projects and ensure steady progress in construction across all developments. To capitalise on China’s demographic trends and government initiatives, the Company will adopt both asset-heavy and asset-light approaches, building a balanced portfolio across its core businesses in healthcare, eldercare and hospitality. Perennial Holdings remains committed to service excellence, sustainable growth and delivering value for all stakeholders. Perennial Rehabilitation Hospital, Tianjin Healthcare Business Review China and Singapore
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