OVERVIEW PERFORMANCE SUSTAINABILITY FINANCIALS APPENDIX 59 58 PERENNIAL HOLDINGS PRIVATE LIMITED ANNUAL REPORT 2025 RENSHOUTANG 人寿堂 CHINA HEALTHCARE BUSINESS Renshoutang’s Presence Map CHANGSHA 长沙 Operating Capacity: 1,900 Committed Pipeline: 400 XIANTAO 仙桃 Operating Capacity: 500 JURONG 句容 Operating Capacity: 1,100 WUHAN 武汉 Operating Capacity: 1,400 TIANJIN 天津 Operating Capacity: 200 SHANGHAI 上海 Operating Capacity: 6,500 Committed Pipeline: 1,900 ZHENJIANG 镇江 Operating Capacity: 400 Operating Capacity Committed Pipeline SUZHOU 苏州 Operating Capacity: 700 CHANGZHOU 常州 Operating Capacity: 500 PERENNIAL ALZHEIMER’S CARE VILLAGE XI’AN 西安鹏瑞利知智照护家园 Business Review CHINA HEALTHCARE BUSINESS Perennial Holdings is the largest single shareholder of Renshoutang, with 50% interest. Established in 1993, Renshoutang is a pioneering integrated eldercare service provider in China and is among the foremost private eldercare operators in Shanghai. As at 31 December 2025, Renshoutang’s extensive portfolio comprises over 40 eldercare and nursing facilities, predominantly located in Shanghai, with a combined total of over 15,000 operational and pipeline beds. Renshoutang offers an extensive range of senior living solutions designed to meet the unique needs of elderly individuals at every stage of life. Its holistic service portfolio integrates residential eldercare, professional nursing, rehabilitation and specialised dementia support. Renshoutang also provides robust medical care, featuring targeted management for chronic conditions alongside TCM. Renshoutang’s commitment to excellence has earned it significant national acclaim, most notably the “Top Five Eldercare Service Brand” award in 2020. Perennial Alzheimer’s Care Village Xi’an (“PACVX”) is China’s first dedicated Alzheimer’s care village and the sixth such facility worldwide. Situated within the prestigious Zhouzhi Louguan Ecological Cultural Tourism Resort Zone, this innovative project spans over 460,000 sq ft of land, nestled amidst scenic lakes, gardens, mountains and cultural landmarks, creating a serene and therapeutic environment. PACVX provides a comprehensive, personalised and integrated approach to the care of individuals with Alzheimer’s disease. The development comprises an eldercare complex, a nursing hospital and a rehabilitation hospital, spanning a total built-up area of more than 400,000 sq ft. It also features the International Geriatric Health Management Research Institute, which has established the first training base for Alzheimer’s care in Northwest China. PACVX’s East-meets-West approach to care combines Western medicine with TCM, offering a variety of nonpharmacological therapies such as “Aromatic Three Needles”, acupuncture, multi-sensory therapy, music therapy and virtual reality somatosensory training, all designed to enhance the well-being of residents. These integrated treatments and therapies are provided by the facility’s multidisciplinary team, comprising neurologists, geriatricians, cardiologists, rehabilitation therapists, TCM physicians, psychiatrists, nurses, nutritionists and caregivers. What sets PACVX apart from traditional Alzheimer’s care facilities is the independence it provides residents while ensuring their safety. State-of-the-art tracking and positioning systems enable residents to freely explore the village’s numerous purpose-built amenities, including a clubhouse, post office, hair salon, shops, a children’s playground and various exercise areas. Surrounded by lush natural landscapes, each amenity is meticulously designed to engage the five senses, fostering a sense of normalcy and comfort. By championing a resident-first philosophy, PACVX sets the standard for Alzheimer’s care and senior living not only in China but globally. The community is dedicated to empowering residents to pursue vibrant, purposeful and healthy lives, redefining ageing on an international scale. Its pharmaceutical division, Renshoutang Medicine (人寿堂国药), holds the esteemed “China Time-honored Brand” (中华老字号) status, a rare distinction granted by the Ministry of Commerce to heritage brands founded before 1956. These honours are complemented by a 2021 award for “Excellent Nursing Team” from the Shanghai Association of Social and Medical Institutions. Renshoutang operates under three distinct brands to cater to differing level of needs. Yixian Eldercare (逸仙颐养) provides a foundation of accessible, high-quality care, while Xiehe Eldercare (协和颐养) is tailored for the more affluent market. Its flagship brand, Renshoutang (人寿堂), represents the pinnacle of the portfolio, catering to those seeking the most premium levels of senior living and support. Beyond institutional care, Renshoutang extends its expertise to in-home eldercare services, enabling seniors to receive professional support in the comfort of their own homes. These services include assistance with daily activities such as bathing, grooming, dressing and maintaining personal hygiene, as well as medical and nursing care and support for bed-bound individuals. This initiative aligns seamlessly with government efforts to enhance eldercare services within home and community settings. In 2020, Renshoutang expanded its offerings to include mobility aid rentals and meal delivery services. The excellence of its home-based care was recognised in 2022 when a care team member received the silver prize for “Home-based Long-term Nursing Care” from the Shanghai Changning District Healthcare Security Administration. Renshoutang is on track to become a dominant force in the Yangtze River Delta’s eldercare sector, backed by a strong project pipeline and expansion plans.
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