This classic Republic of China surcharge stamp features the engraved portrait of Dr. Sun Yat-sen on the original 20,000-cent blue high-value issue, later revalued to 50 cents with a prominent red overprint during the late 1940s inflation period. Such emergency surcharges were widely used in 1948–49 as postal rates shifted rapidly. The example shows strong color contrast, clear red characters, and good overall detail in the Sun emblem and frame. A notable historical revaluation piece from China’s transitional postal era and an essential addition for collectors of ROC overprints, inflation issues, and Sun Yat-sen series varieties.