There are some direct trains available after 22:10 from Hangzhou to Shanghai, but most of them departing around 2 or 3am. And the arrival time in Shanghai would be around 5am. Thus, you are suggested to stay one night near the Hangzhou railway station and take the earliest D train D5654 (07:40/09:10) to Shanghai the next morning. For the train schedule details, you could do a search on the website.