China Logistics Property : SUPPLEMENTAL ANNOUNCEMENT -PROPOSED ISSUE OF US$100,000,000 6.95% CONVERTIBLE BONDS DUE 2025 UNDER SPECIFIC MANDATE

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.

This announcement is for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for the securities of the Company. This announcement is not, and is not intended to be, an offer of securities of the Company for sale, or the solicitation of an offer to buy securities of the Company, in the United States or any other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The securities referred to in this announcement have not been and will not be registered under the U.S. Securities Act, and may not be offered or sold within the United States (as defined in Regulation S under the U.S. Securities Act) except pursuant to an exemption under, or in a transaction not subject to the U.S. Securities Act. This announcement and the information contained herein are not for distribution, directly or indirectly, in or into the United States. No public offer of the securities referred to herein is being or will be made in the United States.

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)

SUPPLEMENTAL ANNOUNCEMENT

PROPOSED ISSUE OF

US$100,000,000 6.95% CONVERTIBLE BONDS DUE 2025

UNDER SPECIFIC MANDATE

References are made to the announcements of China Logistics Property Holdings Co., Ltd (the "Company") dated 29 June 2020 and 7 July 2020 and the circular of the Company dated 27 July 2020 (the "Circular") in relation to the Bonds Issue. Capitalised terms used herein have the same meanings as those defined in the Circular unless the context otherwise requires.

As disclosed in the Circular, the Company has applied to the Stock Exchange for the listing of the Bonds by way of debt issues to professional investors (as defined in Chapter 37 of the Listing Rules and in the SFO). After further discussions and commercial consideration, the Company and the Purchaser decided not to list the Bonds on the Stock Exchange. Accordingly, the Company, the Subsidiary Guarantors and the Purchaser entered into a supplemental subscription agreement dated 31 July 2020 (the "Supplemental Agreement") in relation to the deletion of the relevant condition precedent to the Bonds Issue.

Save for the above amendment, all other material terms of the Subscription Agreement remain unchanged. The Board is of the view that the terms of the Supplemental Agreement are fair and reasonable and in the interests of the Company and the Shareholders as a whole.

By Order of the Board

China Logistics Property Holdings Co., Ltd

Li Shifa

Chairman

Hong Kong, 31 July 2020

As at the date of this announcement, Mr. Li Shifa, Mr. Wu Guolin, Ms. Li Huifang, Mr. Chen Runfu, Mr. Cheuk Shun Wah, Ms. Shi Lianghua and Mr. Xie Xiangdong are the executive directors; Mr. Huang Xufeng, 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.