The share price of MAN SHUN GP (HKEX: 01746) has surged by more than 34% upon the resumption of trading. At the time of writing, the stock is up 34.12% to HK$0.57, with a turnover of HK$4.0538 million.

The significant price movement follows the company's announcement that its Executive Director and Board Chairman Zhang Yuantong, along with Executive Director Zhang Yuanqiu, have entered into a letter of intent with Sichuan Wanlexin Technology. According to the letter, the sellers may potentially sell their shares to the prospective buyer.

Should this transaction proceed, it could result in a change of control for the company and potentially trigger a mandatory general offer for all issued shares under the Takeovers Code. The sellers, through Prime Pinnacle, indirectly hold 750 million company shares, representing a 75% stake in the company.