Beijing Properties : Appointment of Executive Director and President

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APPOINTMENT OF EXECUTIVE DIRECTOR AND PRESIDENT

The Board is pleased to announce that Mr. Zhang Xudong has been appointed as an executive director and the president of the Company, with effect from 17 August 2020.

The board (the "Board") of directors (the "Directors") of Beijing Properties (Holdings) Limited (the "Company") is pleased to announce that Mr. Zhang Xudong ("Mr. Zhang") has been appointed an executive director and the president of the Company with effect on 17 August 2020:

Brief biographies of Mr. Zhang is as follows:

Mr. Zhang Xudong, aged 50, is the managing director of the Company and the chairman of China Cold China Industry Investments (Group) Limited ("CCII"), a wholly owned subsidiary of the Company since December 2019 and January 2018, respectively. Mr. Zhang obtained a bachelor's degree of economics from Beihang University of Aeronautics and Astronautics (BUAA) and a MBA from Newcastle Business School of Northumbria University, the United Kingdom. Prior to his service with the Company, he was business development director of china region and vice president of north china of Praxair (China) Investment Co., Ltd. in the USA. Mr. Zhang has over 25 years' experience in corporate management who obtained a series of senior management positions in large multinational corporation and China 500 enterprises, and has accumulated extensive management experience in large enterprises.

As at the date of this announcement, Mr. Zhang is the owner of 6,000,000 share options of the Company granted under the Company's share option scheme. Save as disclosed, Mr. Zhang does not have, and is not deemed to have any interests or short positions in any shares, underlying shares or debentures of the Company or any of its associated corporations within the meaning of Part XV of the Securities and Futures Ordinance.

Save as disclosed above, Mr. Zhang had not held any directorship in other listed public Companies in the last three years and Mr. Zhang does not have any other relationship with any Directors, senior management or substantial or controlling shareholder of the Company.

A service contract has been entered into between the Company and Mr. Zhang for a term of three years unless terminated by not less than one month' notice in writing served by either party at any time and Mr. Zhang will be subject to retirement by rotation and re-election at the next general meeting of the Company in accordance with the bye-laws of the Company. Mr. Zhang will receive an annual director's fee of HK$144,000, which is fixed with reference to his duties and responsibilities within the Company, the Company's remuneration policy and the prevailing market conditions.

Save as disclosed herein, the Board is not aware of any matter in relation to the appointment of Mr. Zhang that is required to be disclosed pursuant to any of the requirements under Rule 13.51(2)(h) to (v) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and any other matter that needs to be brought to the attention of the shareholders of the Company.

The Board would like to express its warmest welcome to Mr. Zhang in joining the Board.

By Order of the Board

Beijing Properties (Holdings) Limited

Cheng Ching Fu

Company Secretary

Hong Kong, 17 August 2020

As at the date of this announcement, Mr. Qian Xu, Mr. Zhao Jiansuo, Mr. Siu Kin Wai, Mr. Zhang Xudong, Mr. Dong Qilin, Mr. Li Changfeng, Mr. Cheng Ching Fu, Mr. Yu Luning and Mr. Ng Kin Lam are the executive Directors; and Mr. Goh Gen Cheung, Mr. Zhu Wuxiang, Mr. James Chan, Mr. Song Lishui and Mr. Xie Ming are the independent non-executive Directors.