Beijing Properties : Announcements and Notices - Continuing Connected Transactions I. Termination Agreemen ...

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.

北京建 設（ 控股 ）有限公司

(Incorporated in Bermuda with limited liability)

1. TERMINATION AGREEMENT
2. SUPPLEMENTAL TENANCY AGREEMENT
3. PROPERTY MANAGEMENT SERVICES AGREEMENT RENEWAL

On 17 November 2017, WSL Logistics entered into termination agreement with Tianjin WSL Huoyun to terminate the Tenancy Agreement 11.

On 17 November 2017, WSL Logistics entered into Supplemental Tenancy Agreement 3 with Tianjin WSL Huoyun to re-arrange the tenancies for the premises under the New Tenancy Agreement 3.

On 17 November 2017, TYWL entered into the New Property Management Services Agreement with Tianjin WSL Estate Management.

WSL Logistics is held as to 70% indirectly by the Company and 30% by Tianjin WSL. Tianjin WSL Huoyun is held as to 30% by Tianjin WSL. Therefore, Tianjin WSL Huoyun is an associate of Tianjin WSL, which in turn is a connected person of the Company.

TYWL is a subsidiary of the Company. Tianjin WSL Estate Management is a wholly owned subsidiary of Tianjin WSL. Tianjin WSL is an associate of Well Luck (the substantial shareholder of High Church). Accordingly, Tianjin WSL Estate Management is a connected person of the Company (at the subsidiary level) under the Listing Rules.

Accordingly, the Supplemental Tenancy Agreement 3 and the New Property Management Services Agreement constitute continuing connected transactions of the Company under Chapter 14A of the Listing Rules.

Since the transactions contemplated under the termination agreement, the Supplemental Tenancy Agreement 3 and the New Property Management Services Agreement are entered into on normal commercial terms and one or more of the applicable percentage ratios as set out in Rule 14.07 of the Listing Rules in respect of the transactions under the Supplemental Tenancy Agreement 3 and the New Property Management Services Agreement, when aggregated with the New Tenancy Agreement 10 and the New Tenancy Agreement 12, the Supplemental Tenancy Agreements for the extension of rental period to the New Tenancy Agreement 1, the New Tenancy Agreement 2 and the New Tenancy Agreement 5, the New Tenancy Agreement 4, the New Tenancy Agreement 6, the New Tenancy Agreement 7, the New Tenancy Agreement 8, the New Estate Management Services Agreement, the Other Existing Agreements and the Phase II Property Management Services Agreement, on an annual basis, is/are more than 1% but less than 5%, the transactions contemplated under the termination agreement, the Supplemental Tenancy Agreement 3 and the New Property Management Services Agreement are only subject to the reporting, announcement and annual review requirements but are exempt from the independent shareholders' approval under Chapter 14A of the Listings Rules.

Reference is made to the announcement of the Company dated 1 August 2016 in relation to the continuing connected transactions of the tenancy agreements renewal and the estate management services agreement renewal, the announcement of the Company dated 30 November 2016 in relation to the continuing connected transaction of the phase II property management services agreement, the announcement of the Company dated 27 January 2017 in relation to the continuing connected transactions of the tenancy agreement, the announcement of the Company dated 1 June 2017 in relation to the continuing connected transactions of the tenancy agreement, the announcement of the Company dated 31 July 2017 in relation to the continuing connected transactions of the supplemental agreement for the extension of rental period to the new tenancy agreements, and the announcement of the Company dated

31 October 2017 in relation to the continuing connected transactions of the termination agreement and the new tenancy agreements (collectively, the "Announcements"). Unless otherwise defined, capitalized terms used herein shall have the same meanings as defined in the Announcements.

1. CONTINUING CONNECTED TRANSACTION - TERMINATION AGREEMENT

   On 17 November 2017, WSL Logistics entered into the termination agreement with Tianjin WSL Huoyun to terminate the Tenancy Agreement 11.

2. CONTINUING CONNECTED TRANSACTION - SUPPLEMENTAL TENANCY AGREEMENT 3 Supplemental Tenancy Agreement 3

   On 17 November 2017, WSL Logistics and Tianjin WSL Huoyun entered into a Supplemental Tenancy Agreement 3 pursuant to which the lettable area of the premises under the New Tenancy Agreement 3 was reduced from approximately 221.82 square metres to approximately 202.07 square metres with effect from 1 November 2017. Accordingly, the monthly rental (excluding management service fees and other outgoing charges and expense) is adjusted to RMB11,063.33, which is calculated based on the rate of RMB1.8 per square metre per day. The other terms of the New Tenancy Agreement 3 remain unchanged.

   Revised annual cap of the continuing connected transactions contemplated under the New Tenancy Agreement 3 and the Supplemental Tenancy Agreement 3

   The revised annual cap for the continuing connected transactions contemplated under the New Tenancy Agreement 3 and the Supplemental Tenancy Agreement 3 shall be RMB146,367.89 (equivalent to approximately HK$172,465.34).

3. CONTINUING CONNECTED TRANSACTION - NEW PROPERTY MANAGEMENT SERVICES AGREEMENT

On 17 November 2017, TYWL entered into a New Property Management Services Agreement with Tianjin WSL Estate Management.

Date : 17 November 2017

Parties : Landlord - TYWL

Tenant - Tianjin WSL Estate Management

Nature of transaction : Provision of property management services by Tianjin WSL

Estate Management to TYWL in respect of the property comprising warehouses and offices located at No. 1, No. 1 Road, Second Avenue, Tianjin Airport International Logistics Zone, the PRC

Term : Three years from 20 November 2017 to 15 September 2020

(both dates inclusive) subject to renewal upon its expiry for a term not exceeding three years