Core Viewpoint - The recent transfer of shares for Guanghe Tong (00638) indicates a significant shift in shareholder structure, with a market value of HKD 406 million being transferred, representing 16.43% of the total shares [1] Group 1: Shareholder Activity - On November 19, shareholders of Guanghe Tong transferred shares from CITIC Securities to CITIC Securities Brokerage Hong Kong, with a total market value of HKD 406 million [1] - This transfer accounts for 16.43% of the company's total shares, highlighting a notable change in the shareholder composition [1] Group 2: Market Regulation Changes - The Shanghai and Shenzhen Stock Exchanges announced that due to the end of the price stabilization period for Guanghe Tong in the Hong Kong market and the completion of 10 trading days since its A-share listing, adjustments to the Hong Kong Stock Connect eligible securities list will take effect on November 17, 2025, including the addition of Guanghe Tong [1]