Warning: This list contains SPOILERS for Spider-Man: No Way Home and Hawkeye.
A sequel is in the works for Shang-Chi And The Legend Of The Ten Rings, with director Destin Daniel Cretton set to return. While fans can expect the main cast of the first movie to come back and continue their stories, there is also the distinct possibility that established characters from across the MCU could appear in the sequel. Some of the MCU heroes and villains can be expected, while others may surprise fans.
Shang-Chi is connected to many characters in Marvel Comics, creating a lot of possibilities for the movie. Some of his relationships dovetail nicely with current and upcoming MCU characters and projects. With the mystery of the Ten Rings driving the plot, Shang-Chi is likely to encounter a wide variety of characters in the next chapter of his story, from all over the Marvel Universe.
Ant-Man
With Ant-Man being located in San Francisco, it seems inevitable that Scott Lang will cross paths with Shang-Chi, especially now that Shang-Chi and Katy have both been brought into the fold of the Avengers. The Ten Rings could potentially originate from the Quantum Realm, making Scott Lang's presence all the more essential in the story.
The Ten Rings could also originate in the future and could have been cast into the ancient past by a powerful variant of Kang The Conqueror. Ant-Man is set to fight a Kang variant in Ant-Man And The Wasp: Quantummania next year.
Hawkeye
There's reason to think Hawkeye could appear in the sequel. Given the way things are going in his series, Clint Barton and his family may have to relocate if their identity is exposed to the Kingpin. Heading out west would make sense for him, as Clint led the West Coast Avengers in Marvel Comics.
If Clint Barton does end up leading an MCU version of the team, Shang-Chi and Ant-Man both may be part of it. Clint already has some connection to Hank Pym given his choice of arrows, and he and Scott Lang both are family men who have spent too much time in house arrest, likely leading to them forming a natural bond.
Elektra
The villain of the movie is up for grabs, but if it's not the Ten Rings, it could be another shadowy organization. The Hand could emerge as a major threat in the movie, and they could be embodied in one of the best martial artists in the Marvel Universe, Elektra.
With Kingpin and Daredevil now both officially part of the MCU, other Netflix characters are certain to appear. Elektra makes a lot of sense given the direction of the MCU currently. Though she appeared to die in the collapse of the caves under Manhattan, her fate was never confirmed.
Colleen Wing
Another major Netflix character who could appear may have had a real chance of being in the first Shang-Chi movie. Actress Jessica Henwick actually turned down a role in Shang-Chi to appear in The Matrix Resurrections.
She didn't confirm if the role was Colleen, but given the MCU's embrace of Kingpin and Daredevil, it's certainly possible. Colleen Wing is one of the Daughters of the Dragon and very familiar with The Hand, making her an ideal character to fight them.
Moon Knight
Another character who could join the MCU West Coast Avengers is Moon Knight. Not only was he a member of the comic book version of the team, but he's also set to be the star of his own Disney+ series. Moon Knight is a character involved in magic and international affairs as a mercenary, making him a natural fit in the world of Shang-Chi.
Marc Spector fights elements of the criminal underworld as Moon Knight, as Shang-Chi will probably do in the sequel. That could be the Ten Rings, The Hand, or even some combination of both depending on how the MCU unfolds.
Daredevil
Daredevil relocated from Hell's Kitchen to San Francisco in some of the best Daredevil comics of the 2010s. If the MCU version leaves New York City for any reason, he could end up in San Francisco and join forces with Shang-Chi.
Matt Murdock is also closely associated with The Hand and Elektra, meaning that if those villains show up, he probably will too. The actions of The Hand could also lead Shang-Chi to New York, as it's probable that he could encounter enemies with far-reaching power.
The Contessa
The subplot involving The Contessa remains a mystery at this point, but one thing is for sure: 'Val' is making major moves that seemed aimed at potential Avengers like Yelena, John Walker, and possibly Shang-Chi. She may attempt to recruit Shang-Chi for her mysterious team, or she may look to eliminate him as a threat.
The Contessa is also connected to the Kingpin through Eleanor Bishop. Like The Power Broker, revealed to be Sharon Carter, Kingpin has an interest in powerful objects. The Ten Rings themselves could be the target of The Contessa and her cohorts.
Wong
Wong played a key role in the first movie, revealing the mystery of the Ten Rings. He will probably continue to play a role in the sequel, especially now that he has been revealed as the new Sorcerer Supreme in Spider-Man: No Way Home.
Wong's interest in the Ten Rings will likely contribute to discovering their origins. He may even do so in the course of Doctor Strange In The Multiverse Of Madness, requiring him to find Shang-Chi and warn him of a threat that none of them anticipated.
Doctor Strange
Doctor Strange has emerged as a major player in the MCU in the aftermath of The Blip. Though he's lost the Time Stone and is currently no longer the Sorcerer Supreme, he is likely to have some role in deciphering the origin of the Ten Rings.
Though the rings have no obvious root in magic, Doctor Strange may discover their true source in the course of his journey through the multiverse. Given that the Dweller In Darkness, the monster from the first movie, is one of Doctor Strange's greatest enemies in Marvel Comics, it seems there will be some connection between him and Shang-Chi in the sequel.