Core Insights - On November 27, China Shangcheng (02330) shareholders transferred stocks from Construction Asia to China Galaxy Securities Hong Kong, with a market value of HKD 20.486 million, accounting for 9.05% of the total [1] Summary by Sections Shareholder Activity - Shareholders of China Shangcheng transferred stocks valued at HKD 20.486 million to China Galaxy Securities Hong Kong, representing 9.05% of the total [1] Placement Agreement - On October 28, China Shangcheng announced that all conditions of the placement agreement had been met, and the placement was completed on October 28, 2025 [1] - A total of 75.4743 million shares were successfully placed by the placement agent at a price of HKD 0.180 per share to three investors: Mr. Chen Hui, Ms. Liu Xiaoling, and Mr. Li Yanyong [1] - Following the placement, the newly issued shares accounted for approximately 16.67% of the company's expanded issued share capital [1]