CHINA HEALTHCARE BUSINESS 44 PERENNIAL HOLDINGS PRIVATE LIMITED Business Review China and Singapore Healthcare Business • Perennial Jingxin Senior Care Home Beijing Perennial Jingxin Senior Care Home marks the Company’s eldercare debut in Beijing Lucheng, comprising senior care residences, a nursing hospital and a community dining hall for seniors. In August 2025, the Senior Care Home’s eldercare component commenced operations after securing its license. As at end-2025, Perennial Jingxin Senior Care Home has welcomed more than 30 residents. It also introduced a suite of therapeutic wellness programs, featuring Miao herbal foot baths, meridian cleansing and full body moxibustion. Complementing the Senior Care Home’s core offerings, these services further enhance the residents’ holistic well-being. Perennial Jingxin Senior Care Home’s community dining hall opened in August 2025, providing breakfast, lunch and dinner services. By leveraging Yihai Kerry Arawana’s extensive expertise in agriculture and food processing, the facility serves over 80 high-quality meals daily, fostering stronger community ties and ensuring nutritional excellence for residents. In November 2025, Perennial Jingxin Senior Care Home’s Nursing Hospital obtained the license to practice, formally establishing its medical capabilities and providing the essential foundation to deepen Senior Care Home’s integrated medical care and eldercare model. • Perennial Healthcare Community Guangzhou Huangpu The Perennial Healthcare Community Guangzhou Huangpu will feature a wholly foreign-owned private Class 3 tertiary rehabilitation hospital, nursing hospital, as well as Perennial Living and Assisted Living units, ensuring a seamless continuum of care that addresses the diverse needs across the Greater Bay Area for quality eldercare, professional rehabilitation and nursing care. To be operated out of 819,000 sq ft of leased space within the Guangzhou Huangpu Dongchuang Plaza, retrofitting works have commenced. The Perennial Healthcare Community Guangzhou Huangpu targets to open an eldercare show suite in 1H 2026 and open the healthcare community by end 2026. Singapore Healthcare • Perennial Living Perennial Living, Singapore’s first private assisted living (“AL”) development, blending luxury living, five-star hospitality services and comprehensive East-meets-West care. Care at the Parry Avenue site is anchored by the Perennial Wellness centre, which offers a multidisciplinary suite of medical, diagnostic, rehabilitation and TCM services. Featuring 200 AL apartments and 100 nursing home beds, Perennial Living offers a holistic model designed to support a comprehensive care continuum, catering to a wide profile of residents. These residents range from independent seniors and those undergoing post-operative recovery to seniors requiring chronic disease management, specialised nursing care or dementia care. Supported by a multidisciplinary team of specialist doctors, allied health professionals, TCM physicians and a nursing team, Perennial Living empowers a life of dignity and vitality for all residents, regardless of their medical needs. Following a OVERVIEW PERFORMANCE SUSTAINABILITY FINANCIALS APPENDIX 45 ANNUAL REPORT 2025 successful media unveiling in August 2025, Perennial Living is currently receiving private enquiries on leasing and is expected to open in 1H 2026. • Perennial Wellness (Jervois Road) Perennial Wellness, Singapore’s premier integrated medical, rehabilitation and TCM centre, has begun operations within a beautifully repurposed colonial house along Jervois Road. The centre features a multidisciplinary medical clinic, including general practice, longevity medicine, cardiology and musculoskeletal and sports medicine; a rehabilitation centre featuring a wide range of conventional and roboticsassisted equipment; and a TCM centre offering diverse treatments, including herbal bath therapy. Delivering comprehensive Eastmeets-West care in a single facility, Perennial Wellness’ care team comprises Singapore MOHregistered medical doctors, Allied Health Professionals Council (“AHPC”)-accredited Rehabilitation Therapists and TCM Boardregistered Physicians. The integrated care team works in synergy to co-design personalised care plans focusing on patients’ functional independence, vitality and longterm wellness. STRATEGIC PRIORITIES In FY2026, Perennial Holdings will remain steadfast in enhancing the profitability of its operating assets through strong and disciplined operational execution while maintaining steady progress on the construction of development projects. Leveraging its integrated real estate platform and HSR TOD expertise, Perennial Holdings will continue to grow amid the backdrop of policies to improve health, meet the demand for quality healthcare and a rapidly growing silver population in China and Singapore. The journey to organic growth will be through new investments in quality assets and healthcare businesses via acquisitions, JVs and partnerships. Perennial Holdings will remain prudent in its capital investment by adopting both an asset-light strategy of operating and managing its range of medical care and eldercare facilities and an asset-heavy approach of developing new healthcarecentric HSR TODs. Perennial Holdings will mobilise its expansive network of strategic alliances to strengthen its integrated model across its established portfolio of healthcarecentric HSR TODs. The Company will continue to drive synergies across its medical, eldercare and hospitality clusters to expedite growth and expand its healthcare portfolio. At Perennial Healthcare City Tianjin, Perennial Holdings will continue to drive occupancy across its eldercare, medical care and hospitality components by deepening collaborations with external partners, including government, insurance companies and public hospitals. Increased marketing efforts will be channelled to target the wider Beijing-Tianjin-Hebei region and international patient pool. Concurrently, the development will strive to achieve greater cost efficiency through process optimisation and dynamic resource allocation across components, while strictly adhering to the highest medical and eldercare quality and compliance standards. Perennial Healthcare City Chengdu will continue to enhance its medical ecosystem by converting over 300,000 sq ft into a 164-bed Class 2 secondary general hospital. Following our Tianjin general hospital's success, the general hospital will feature the same asset-light co-medical space concept for doctors and medical groups, enabling them to focus solely on providing medical consultations and treatments without investing in medical facilities and services. Detailed design and government approvals for the hospital are underway and on-site construction has commenced. Upon the hospital’s completion in early 2027, together with the upgraded property facilities, such as an enhanced closed circuit television coverage for security needs and an upgraded mechanical and electrical (“M&E”) system, Perennial Healthcare City Chengdu will be equipped with the state-of-the-art facilities to serve the residents and patients in the greater Sichuan region. Within Perennial Healthcare City Kunming, the 501-bed Class 3 tertiary Perennial General Hospital is targeting to commence operation in 2026, making a substantive and critical advancement in the establishment of the integrated medical ecosystem within the project. More branded hotels and complementary hospitality facilities, such as a Chinese Rehabilitation programmes at Perennial Alzheimer's Care Village Xi'an Perennial Medical City Tianjin
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