China Logistics Property : PROPOSED CHANGE OF AUDITORS

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China Logistics Property Holdings Co., Ltd

中 國 物 流 資 產 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1589)

PROPOSED CHANGE OF AUDITORS

This announcement is made by China Logistics Property Holdings Co., Ltd (the "Company", together with its subsidiaries, the "Group") pursuant to Rule 13.51(4) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules").

The board of directors (the "Board") of the Company has resolved that for the purpose of maintaining independence and objectivity of the auditor and upholding good corporate governance, it is an appropriate time to change the current auditor of the Company, PricewaterhouseCoopers ("PwC"), which has been holding its office since 2015, after it retires with effect from the conclusion of the forthcoming annual general meeting of the Company to be held on 29 June 2021 (the "AGM"). The Board has proposed not to re-appoint PwC as auditor of the Company after its retirement from the conclusion of the AGM.

The Company is incorporated under the laws of Cayman Islands and to the knowledge of the Board there is no requirement under the laws of Cayman Islands for the retiring auditor to confirm whether or not there is any circumstance connected with their retirement which they consider should be brought to the attention of the Company's members and creditors. PwC has therefore not issued such confirmation. The Company confirms that there is no disagreement between PwC and the Group, and there are no other matters in respect of the proposed change of auditors that need to be brought to the attention of the shareholders or creditors of the Company.

On the recommendation of the audit committee of the Company, the Board has resolved to propose to appoint KPMG as the new auditor of the Company following the retirement of PwC with effect from the conclusion of the AGM and until the conclusion of the next annual general meeting of the Company, which is subject to the approval of the shareholders of the Company at the AGM.

The Company would like to extend its sincere gratitude to PwC for its professional services provided to the Group in previous years.

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A circular containing, among other things, further details of the proposed change of auditors, together with a notice of the AGM, will be despatched to the shareholders of the Company in due course.

By order of the Board

China Logistics Property Holdings Co., Ltd

Li Shifa

Chairman

Hong Kong, 28 April 2021

As of the date of this announcement, Mr. Li Shifa, Mr. Wu Guolin, Ms. Li Huifang, Mr. Cheuk Shun Wah, Ms. Shi Lianghua, Mr. Xie Xiangdong and Mr. Wu Guozhou are the executive directors, Ms. Li Qing and Mr. Fu Bing are the non-executive directors, and Mr. Guo Jingbin, Mr. Fung Ching Simon, Mr. Wang Tianye, Mr. Leung Chi Ching Frederick and Mr. Chen Yaomin are the independent non-executive directors of the Company.

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