The board of directors of China Logistics Property Holdings Co., Ltd. announced that, on December 22, 2016, Mr. Chen Runfu has been appointed as a non-executive Director. Mr. CHEN Runfu is currently the senior vice president of Sino-Ocean Group Holding Limited, and also serves as a director or general manager in a number of subsidiaries or project companies of Sino-Ocean Group. Mr. Chen is primarily responsible for Sino-Ocean Group's strategy management, investment management, equity management and brand management. Sino-Ocean Group, through its subsidiaries, is primarily engaged in property development and property investment and is listed on the Main Board of The Stock Exchange of Hong Kong Limited. Mr. Chen has served over 21 years in Sino-Ocean Group and has extensive experience in property development and property investment. Since joining COSCO Real Estate Development Corporation the predecessor of Sino-Ocean Group, in October 1995, Mr. Chen had held various positions in such company, including the head of the regional development department, the general manager of the client service center, the general manager of the strategic development department, the general manager of the office building business department, and the vice president of the company. He was also an executive director of Sino-Ocean Group from June 2007 to December 2015. Mr. Chen has been appointed as the senior vice president of Sino-Ocean Group since April 2016. Prior to joining Sino-Ocean Group, Mr. Chen worked as an engineer in the Waterborne Transport Planning and Designing Institute under the Ministry of Transport, currently known as China Transport Waterborne Transport Planning and Designing Institute Co., Ltd. from August 1986 to September 1993. From September 1993 to October 1995, Mr. Chen worked at China Sino-Ocean Shipping (Group) Corporation, currently known as China COSCO Shipping Corporation Limited where he first served as an investment specialist in the planning division until July 1994, and later as a secretary in the president's office until October 1995.