On November 27, Gelonghui reported that SHANGHAI GROWTH (00770.HK) announced that the board of directors was notified that on November 27, 2024, one of the company's major shareholders, Hengye (Hong Kong) Investment Co., Ltd. ("Potential Seller"), entered into a memorandum of understanding with a potential buyer ("Potential Buyer"), whereby the Potential Seller intends to sell and the Potential Buyer intends to acquire approximately 1.885 million shares of the company's common stock, representing all company shares legally and beneficially owned by the Potential Seller, accounting for 17.64% of the company's total issued share capital as of the date of this announcement. The Potential Seller has appointed china galaxy international securities (Hong Kong) Limited ("china galaxy") as the coordinating party for the proposed sale.