Core Viewpoint - The recent stock transfer of China Shangcheng (02330) from China Galaxy Securities Hong Kong to Bank of China (Hong Kong) indicates a significant movement in shareholder structure, with a market value of HKD 4.0681 million, representing 6.28% of the company [1] Group 1: Stock Transfer - On December 2, shareholders of China Shangcheng transferred stocks valued at HKD 4.0681 million from China Galaxy Securities Hong Kong to Bank of China (Hong Kong), accounting for 6.28% of the company [1] Group 2: 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, including Mr. Chen Hui, Ms. Liu Xiaoling, and Mr. Li Yanyong [1] - Following the placement, the newly issued shares represent approximately 16.67% of the company's expanded issued share capital [1]