On February 25, 2026, the fund’s subsidiary EfTEN Ermi OÜ and Tartu Südamekodu OÜ reached an agreement on the expansion of the elderly care home located at Ermi tn 13, Tila village, Tartu municipality, Tartu County. As a result, 72 additional beds will be added. The “Tartu Südamekodu” elderly care home, developed through the parties’ previous cooperation, has been providing services to clients since August 2024 and currently comprises 180 beds. By the end of last year, the facility had reached full occupan ...

2月2日，宝鸡市凤翔区彪角镇三岔村的幸福院里热闹非凡。村民王保祥端着一碗豆花泡馍，和老伙 计们围坐在餐桌旁边吃边唠家常。 "以前一个人吃饭总凑合，现在顿顿热乎饭，美得很！"王保祥说。 与此同时，宝鸡市渭滨区桥南街道英达路社区，老人们正在晨练。这里的公共区域安装了扶手等适 老化设施，使老人出行更便捷。 3公里外的宝鸡市渭滨幼儿园托育园里，2岁多的萌娃们正在老师的带领下做感统训练…… "一老一小"是事关千家万户的"关键小事"和"民生大事"。在宝鸡市，各地每天都在上演着"一老一 小"的温暖故事。 日前，在国家发展改革委举办的"人口高质量发展的国际经验与中国实践：'一老一小'服务体系建 设现场会"上，全国共有6个城市分享典型经验，宝鸡市作为陕西唯一代表，交流了养老托育工作做法。 银发生活更有品质 "儿女在外上班，总担心我们吃不上饭。现在的社区食堂太方便了。"2月11日，在英达路社区食 堂，居民蒋贵新说。 像蒋贵新这样受益的老人，在宝鸡市越来越多。截至目前，宝鸡市已建成136个爱心助餐点，年均 服务老年人达20万人次，有效解决了老年人"吃饭难"问题。 同时，宝鸡市创新构建"居家为基础、社区为依托、机构为补充、医养相结合 ...

Core Viewpoint - Addus HomeCare Corporation (ADUS) has encountered significant challenges over the past five years, primarily due to a labor shortage and rising interest rates, impacting its operations in the labor-intensive elderly care sector [1]. Industry Insights - The elderly care industry is expected to experience substantial earnings growth driven by demographic changes, presenting attractive investment opportunities [1]. - Many stocks within the elderly care sector are currently trading below their fair value, indicating potential for future appreciation [1].

Core Insights - The elderly care sector is identified as a promising investment opportunity due to demographic changes driving earnings growth for many years to come [1] - Many stocks in the elderly care industry are currently trading significantly below their fair value, indicating potential for appreciation [1] Industry Summary - The demographic shift towards an aging population is expected to enhance the earnings potential of elderly care companies [1] - The market for elderly care is seen as underappreciated, with opportunities for investors to capitalize on undervalued stocks [1]

Core Viewpoint - The Beijing government aims to enhance its multi-tiered social security system, focusing on elderly and childcare services, as outlined in the government work report presented by Mayor Yin Yong during the Fourth Session of the 16th People's Congress of Beijing [1] Group 1: Elderly Services - The city plans to implement the Elderly Care Service Regulations and improve the long-term care insurance system [1] - There will be the establishment of 20 regional elderly service centers and the addition of 5,000 family elderly care beds [1] Group 2: Childcare Services - Policies such as childcare subsidies, maternity insurance, and maternity leave will be enforced to support eligible kindergartens in providing childcare services [1] - The proportion of inclusive childcare places is set to increase to 68% [1] Group 3: Pension System - The government will promote the expansion of enterprise annuities and individual pensions to ensure better coverage [1]

Core Viewpoint - China is planning to implement new measures to boost service consumption, focusing on sectors like elderly care, healthcare, and leisure to counteract weak demand for goods, with success dependent on increasing household incomes and social welfare [1][2]. Group 1: Economic Strategy - Authorities are expected to introduce incentives, reduce market barriers, and invest in high-growth sectors to address supply shortages in the services sector, which has been underdeveloped due to historical policy biases favoring manufacturing [2][3]. - Policymakers are emphasizing the importance of service consumption due to its significant potential, with a gradual expansion aligned with economic transformation [3]. - Chinese leaders aim to increase household consumption's share of the economy to 45% by 2030, up from approximately 40% currently [3]. Group 2: Investment in Social Welfare - The government has committed to "invest in people" by enhancing spending on education, healthcare, and social security, indicating stronger support for families and an effort to boost household spending power [4]. - As per capita GDP approaches $14,000, Chinese households are increasingly directing their spending towards services such as elderly care, travel, and entertainment, reflecting a shift towards a services-led consumption model [5]. Group 3: Economic Growth and Consumption Trends - The rebalancing of the economy is more about the relative importance of consumption versus investment rather than the type of consumption, with demand for services expected to grow faster than for goods as household incomes rise and the population ages [6]. - China's economy grew by 5% last year, achieving the government's target by capturing a record share of global goods demand, which helped mitigate the effects of weak domestic consumption and U.S. tariffs [6].

Core Insights - Recent developments in the lease renewal process between NHC and National Health Investors (NHI) may raise concerns for investors [1] Group 1: Industry Analysis - The elderly care sector is viewed as presenting significant investment opportunities due to demographic changes driving earnings growth for many years [1] - Many stocks in the elderly care industry are currently trading significantly below their fair value, indicating potential for appreciation [1]

Social Impact & Technology Adoption - AI companions are being used by older adults nationwide to combat loneliness [1] - Residents in a senior care facility in the Bronx are engaging with AI bots [1]

Group 1 - The implementation of new national standards starting October 1 aims to regulate emerging industries and ensure a safe consumption environment, thereby supporting the healthy development of future industries [1] - The recommended national standard for industrial robots, GB/T45509—2025, outlines testing conditions, equipment, trajectory selection, steps, and reporting for dynamic stability tests [1] - The standard GB/T45501—2025 specifies the general technical requirements for 3D vision guidance systems used in industrial robots, including architecture, basic requirements, functional requirements, and performance requirements [1] - The standard GB/T45502—2025 establishes information security requirements and testing methods for service robots, enhancing the information security level of service robot products [1] Group 2 - The recommended national standard GB/T45399—2025 for cloud computing hyper-converged systems sets requirements for computing, storage, network, security virtualization components, and operational management, guiding manufacturers in product design [2] - The standard GB/T45400—2025 outlines the reference architecture and general requirements for cloud supercomputing services, aiding third-party evaluation institutions in testing and assessment [2] - The standard GB/T45933—2025 specifies the basic requirements and configuration list for rehabilitation auxiliary equipment in elderly care institutions, promoting efficient resource allocation and high-quality development in the elderly care industry [2]

Group 1 - The article emphasizes the potential of elderly care companies as a lucrative investment opportunity due to demographic changes driving earnings growth for many years to come [1] - It is noted that many stocks in the elderly care sector are trading significantly below their fair value, indicating potential for price appreciation [1] Group 2 - The author has a beneficial long position in LTC shares, suggesting confidence in the company's future performance [2] - The article is presented as an independent opinion without any compensation from companies mentioned, reinforcing the credibility of the analysis [2]