China Logistics Property Holdings Co., Ltd. announced that, in order to enhance the corporate governance practices of the Company and enable the Company to better comply with the code provision A.2.1 in the Corporate Governance Code as set out in Appendix 14 to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") which provides that the roles of the chairman and the chief executive should be separate and should not be performed by the same individual, with effect from March 26, 2018, Mr. Li Shifa ("Mr. Li"), has stepped down as the chief executive officer of the Group while Mr. Pan Naiyue ("Mr. Pan"), an executive director of the Company, has been appointed as the chief executive officer of the Group in succession to Mr. Li. Mr. Li remains as an executive director and the president of the Company and the chairman of the Board, as well as the chairman of the nomination committee of the Board and a member of the remuneration committee of the Board. Mr. Pan has been the chief executive officer of Shanghai Yupei since January 2018 in charge of its overall operational management. Concurrently, he served as chief operating officer of the Company for the period from November 2013 to March 2018. He also serves as directors at a number of the Group's subsidiaries.