China-Hong Kong-China-Netherlands

Hello,

I am currently residing in China for my studies and I have a one entry student type.(x1 type if I remember correctly) I want to travel to Hong Kong and Macau in January but I am not sure how to this as I have a one entry and a flight booked from Shanghai to Munich on the 21st of January already. Is it an option to travel to Hong Kong and when going back to Shanghai on the 21st use the 24-hour direct transit so I do not need to apply for an extra visa?