Beijing Properties : INSIDE INFORMATION POTENTIAL DISPOSAL OF 90% INTEREST IN CHINA LOGISTICS INFRASTRUCTURES (HOLDINGS) LIMITED THROUGH PUBLIC TENDER

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

BEIJING PROPERTIES (HOLDINGS) LIMITED

北 京 建 設（ 控 股 ）有 限 公 司

(Incorporated in Bermuda with limited liability)

(Stock Code: 925)

INSIDE INFORMATION

POTENTIAL DISPOSAL OF 90% INTEREST IN

CHINA LOGISTICS INFRASTRUCTURES (HOLDINGS) LIMITED

THROUGH PUBLIC TENDER

The Board is pleased to announce that the Company intends to dispose of its 90% interest in China Logistics through Public Tender to be conducted on the CBEX. The Pre-Listing Disclosure is made on the website of the CBEX at http://www.cbex.com.cn on the date of this announcement in compliance with the relevant regulatory requirements in the PRC.

This announcement is made by the Company pursuant to Rule 13.09 of the Listing Rules and the Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the SFO.

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THE POTENTIAL DISPOSAL THROUGH PUBLIC TENDER

The Board is pleased to announce that the Company intends to dispose of its 90% interest in China Logistics through Public Tender to be conducted on the CBEX.

A preliminary disclosure of information relating to the Potential Disposal is made to the public on the website of the CBEX on the date of this announcement (the "Pre-ListingDisclosure"), in compliance with the relevant regulatory requirements in the PRC.

To commence the formal process of the Public Tender, the Company needs to submit, subsequent to the Pre-Listing Disclosure, to the CBEX the tender notice setting out, inter alia, (i) the minimum consideration for the Potential Disposal; (ii) the principal terms of the bidding; and (iii) descriptions and qualifications of potential bidders. The Company will submit the tender notice to the CBEX as soon as practicable after the Shareholders have granted the Proposed Mandate at the SGM.

The base price for the Potential Disposal through the Public Tender will be determined based on the appraised value of the Target Group to be conducted by a reputable valuer and subject to the approvals from the relevant regulatory authorities of State-owned assets in the PRC.

REASONS FOR THE POTENTIAL DISPOSAL

The Group is principally engaged in investment, development and operation of (i) high- end and modern general warehouses; (ii) cold chain logistics warehouses; (iii) specialised wholesale market for the trading and distribution of local agricultural products; (iv) modernized industrial plants; and (v) investments in commercial properties and primary land development.

The Company expects the Potential Disposal will generate significant cash income to the Group which can be used to reduce the outstanding loan amounts of the Group and thus further reducing the finance costs and improving the profitability of the Group in the foreseeable future.

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INFORMATION ON THE TARGET GROUP

China Logistics, a company incorporated in the BVI with limited liability and a wholly-owned subsidiary of the Company, is engaged in investment holding.

Cheng Li, a company incorporated in the BVI and a direct wholly-owned subsidiary of China Logistics, is principally engaged in investment holding.

Maxi Profit, a company incorporated in Hong Kong with limited liability and a direct wholly- owned subsidiary of Cheng Li, is principally engaged in investment holding. As at the date of this announcement, Maxi Profit holds the entire equity interest in Qingdao Yongcheng.

Qingdao Yongcheng, a company established in the PRC with limited liability, is principally engaged in the investment, development and operation of a logistics park located in Qingdao, PRC, which is currently under construction.

New Concord and New Fine, both incorporated in Hong Kong and direct wholly-owned subsidiaries of China Logistics, are principally engaged in investment holding.

As at the date of this announcement, New Concord, New Fine and a third party hold the equity interest in Beijing Inland Port as to 52%, 24% and 24%, respectively.

Beijing Inland Port, a joint venture established in the PRC, is principally engaged in the investment, development and operation of a logistics park located in Beijing, PRC, which is currently under operation.

Positive Gain, a company incorporated in the BVI and a direct wholly-owned subsidiary of China Logistics, is principally engaged in investment holding.

Stable Star, a company incorporated in Hong Kong with limited liability and a direct wholly- owned subsidiary of Positive Gain, is principally engaged in investment holding. As at the date of this announcement, Stable Star holds the entire equity interest in Langfang Yongcheng.

Langfang Yoncheng, a company established in the PRC with limited liability, is principally engaged in the investment, development and operation of a logistics park located in Langfang, PRC which is currently dormant pending the acquisition of a pancel of land for development.

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GENERAL

The Potential Disposal, if materialised, may constitute a notifiable transaction of the Company.

As the Potential Disposal is only at the Pre-Listing Disclosure stage, the Potential Disposal may or may not proceed and accordingly, Shareholders and potential investors of the Company are advised to exercise caution when dealing in the securities of the Company. The Company will make further announcement(s) in compliance with the Listing Rules and/or Part XIVA of the SFO as and when appropriate or required.

DEFINITIONS

In this announcement, unless otherwise indicated in the context, the following terms shall have the meanings as set out below:

"Beijing Inland Port"

"Board"

"BVI"

"CBEX"

"Cheng Li"

Beijing Inland Port Co., Ltd.（北京北建通成國際物流有限 公司）, a joint venture established in the PRC

the board of Directors

British Virgin Islands

China Beijing Equity Exchange

Cheng Li Investments Limited（城利投資有限公司）, a company incorporated in the BVI and a direct wholly-owned subsidiary of China Logistics

"China Logistics"

"Company"

China Logistics Infrastructures (Holdings) Limited, a company incorporated in the BVI with limited liability and a direct wholly-owned subsidiary of the Company

Beijing Properties (Holdings) Limited, a company incorporated in Bermuda with limited liability, the issued shares of which are listed on the Main Board of the Stock Exchange (stock code: 925)

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"Director(s)" "Group" "Hong Kong"

"Langfang Yongcheng"

"Listing Rules"

"Maxi Profit"

"New Concord"

"New Fine"

"Positive Gain"

"Potential Disposal"

"PRC"

director(s) of the Company

the Company and its subsidiaries

the Hong Kong Special Administrative Region of the PRC

Langfang Yongcheng Logistics Ltd.*（廊坊永成物流有限公 司）, a company established in the PRC with limited liability

the Rules Governing the Listing of Securities on the Stock Exchange

Maxi Profit Limited（頂潤有 限公司）, a company incorporated in Hong Kong with limited liability and a direct wholly-owned subsidiary of Cheng Li

New Concord Properties Limited（新陽置業有限公司）, a company incorporated in Hong Kong and a direct wholly- owned subsidiary of China Logistics

New Fine International Development Limited（新輝國際發 展有限公司）, a company incorporated in Hong Kong and a direct wholly-owned subsidiary of China Logistics

Positive Gain Investment Limited（正利投資有限公司）, a company incorporated in the BVI and a direct wholly-owned subsidiary of China Logistics

the proposed disposal of the 90% interest in China Logistics by the Company

People's Republic of China

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"Proposed Mandate"

"Public Tender"

"Qingdao Yongcheng"

"SFO"

"SGM"

"Shareholders"

"Stable Star"

"Stock Exchange"

a general mandate proposed to be granted in advance by the Shareholders at the SGM to the Directors to enter into and complete the Potential Disposal through Public Tender

the public tender for the Potential Disposal through CBEX

Qingdao Yongcheng International Logistics Ltd.*（青島永 成國際物流有限公司）, a company established in the PRC with limited liability

Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong)

the special general meeting to be convened and held by the Company for the Shareholders to consider and, if thought fit, approve the resolution(s) in relation to the grant of the Proposed Mandate

holders of the share(s) of HK$0.10 each in the share capital of the Company

Stable Star Investment Limited（正星投資有限公司）, a company incorporated in Hong Kong with limited liability and a direct wholly-owned subsidiary of Positive Gain

The Stock Exchange of Hong Kong Limited

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"Target Group"	China Logistics, Cheng Li, Maxi Profit, Qingdao Yongcheng,
	New Fine, New Concord, Beijing Inland Port, Positive Gain,
	Stable Star and Langfang Yongcheng
"%"	per cent

• For identification purpose only

For order of the Board

Beijing Properties (Holdings) Limited

Cheng Ching Fu

Company Secretary

Hong Kong, 9 September 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 Nam 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.

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