The board of directors of China Logistics Property Holdings Co., Ltd. announced that Mr. Zhang Long has tendered his resignation as an executive director of the Company with effect from May 11, 2018, due to his intent to pursue other career and dedicate to other business opportunities. Mr. Zhang has confirmed that there is no disagreement with the Board and there is no matter in respect of his resignation that needs to be brought to the attention of the shareholders of the company. On May 7, 2018, the Board resolved to appoint Mr. Fu Bing as a non-executive director of the company with effect from the date of the completion of the shares subscription under the shares subscription agreement entered into between the company and Jingdong Logistics Group Corporation on April 27, 2018. It is expected that the completion will take place on May 11, 2018. Mr. Fu Bing has extensive experience in logistics and supply chain management. Mr. Fu is currently vice-president of JD.com Inc. and head of the logistics planning and development department of JD Logistics Group, the logistics arm of JD.com Inc.