China Infrastructure & Logistics : (1) RESIGNATION OF NON-EXECUTIVE DIRECTOR AND VICE CHAIRMAN OF THE BOARD; (2) APPOINTMENT OF NON-EXECUTIVE DIRECTOR; AND (3) CHANGE OF COMPOSITION OF THE BOARD COMMITTEES

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

China Infrastructure & Logistics Group Ltd.

中 國 通 商 集 團 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1719)

1. 1. RESIGNATION OF NON-EXECUTIVE DIRECTOR AND VICE CHAIRMAN OF THE BOARD;
   2. APPOINTMENT OF NON-EXECUTIVE DIRECTOR; AND
2. CHANGE OF COMPOSITION OF THE BOARD COMMITTEES

The Board hereby announces that, with effect from 31 December 2019:

1. Mr. Lei Dechao ("Mr. Lei") has resigned as a non-executive Director and vice chairman of the Board and ceased to be a member of the Audit Committee, Nomination Committee and Remuneration Committee; and
2. Mr. Xia Yu ("Mr. Xia") has been appointed as a non-executive Director and a member of the Audit Committee, Nomination Committee and Remuneration Committee.

This announcement is made by China Infrastructure & Logistics Group Ltd. (the "Company") pursuant to Rule 13.51(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules").

RESIGNATION OF NON-EXECUTIVE DIRECTOR AND VICE CHAIRMAN OF THE BOARD

The board (the "Board") of directors (the "Directors") of the Company announces that Mr. Lei has resigned as a non-executive Director and vice chairman of the Board with effect from 31 December 2019 as he would like to devote more time to his other businesses.

Mr. Lei has confirmed that, as at the date of this announcement, (i) he does not have any claims against the Company in respect of his resignation; (ii) he does not have any disagreement with the Board; and (iii) there are no other matters in relation to his resignation which need to be brought to the attention of the shareholders of the Company and The Stock Exchange of Hong Kong Limited.

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APPOINTMENT OF NON-EXECUTIVE DIRECTOR

The Board is pleased to announce that Mr. Xia has been appointed as a non-executive Director with effect from 31 December 2019.

The biographical details of Mr. Xia are set out as below:

Mr. Xia Yu, aged 59, worked in various positions at the finance department of a state-operated organisation from 1981 to 1997. He was the head of the commerce committee, financial controller and general party branch secretary from 1997 to 2000 of a state-operated organisation, and was the chairman of the board of Hubei Xuelong Group Co., Limited*（湖北雪龍集團股份有限公司） from 2000 to 2003. Since 2004, Mr. Xia has been a director of Zall Holdings Company Limited, a company held under the controlling shareholder of the Company, incorporated in the People's Republic of China. Mr. Xia had been the non-executive Director from 27 October 2016 to 12 December 2018. Mr. Xia obtained a bachelor's degree in managerial economics from the Correspondence Academy of Party School of the Central Committee of the Communist Party of China in 1997, and holds the qualification of senior accountant.

Mr. Xia has entered into a service agreement with the Company for a term of three years. The service agreement may be terminated by either party by written notice of not less than three months. Mr. Xia shall hold office until the next general meeting of the Company and be eligible for re-election at that meeting in accordance with the articles of association of the Company. Mr. Xia is entitled to a remuneration of RMB300,000 per annum, which is determined by the Board with reference to his duties and responsibilities, the prevailing market conditions and the recommendation from the remuneration committee of the Company.

Save as disclosed above, as at the date of this announcement, Mr. Xia (i) has not held any directorships in any other public listed companies in the past three years preceding the date of this announcement; (ii) does not have or is not deemed to have any interests or short positions in any shares, underlying shares or debentures within the meaning of Part XV of the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong) of the Company; (iii) does not have any other relationships with the Directors, senior management or substantial or controlling shareholders of the Company; (iv) does not hold any other position with the Company; and (v) there is no other information in relation to him that is required to be disclosed pursuant to the Listing Rules.

The Board would like to take this opportunity to express its appreciation and gratitude to Mr. Lei for his valuable contributions to the Group during his tenure of office and to welcome Mr. Xia for joining the Board.

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CHANGE OF COMPOSITION OF AUDIT COMMITTEE, NOMINATION COMMITTEE AND REMUNERATION COMMITTEE

Following Mr. Lei's resignation, he has ceased to be a member of the audit committee (the "Audit Committee"), the nomination committee (the "Nomination Committee") and remuneration committee (the "Remuneration Committee") of the Company and Mr. Xia has been appointed as a member of the Audit Committee, the Nomination Committee and the Remuneration Committee with effect from 31 December 2019.

By the order of the Board

China Infrastructure & Logistics Group Ltd.

Yan Zhi

Co-Chairman

Hong Kong, 31 December 2019

As at the date hereof, the Board comprises three executive Directors, namely Mr. Peng Chi, Mr. Xie Bingmu and Mr. Zhang Jiwei, two non-executive Directors namely Mr. Yan Zhi and Mr. Xia Yu and three independent non-executive Directors namely Mr. Lee Kang Bor, Thomas, Dr. Mao Zhenhua and Mr. Wong Wai Keung, Frederick

*  For identification purposes only

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