I too think it looks like Shanghai, and I can't think of anything that would be a better fit.
Not that it makes it less interesting to have, but Gibbons prices these cancels on HK stamps, and on that particular stamp they're on the lower end of the CV spectrum. Plus, the catalogue contemplates a more-readable example of the cancel.
That said, I've bought more than a few with very
partial cancels, as long as the dealer hasn't already tried to upcharge for the cancel (and here in the central U.S., they rarely have...).
Here is a Shanghai on a block of four KEVII that I'd shared several years back:
Also not a high-CV item, but I like it. It just
sneaks into my KGV collection, being postmarked six days into his reign.