Meituan has announced plans to acquire all issued shares of Dingdong through its wholly-owned subsidiary for an initial consideration of $717 million. The transaction was disclosed in a filing with the Hong Kong Stock Exchange on the evening of February 5.

Under the agreement, the transferor may withdraw up to $280 million from Dingdong, provided that Dingdong maintains a minimum net cash balance of $150 million. Upon completion of the acquisition, Dingdong will become an indirectly wholly-owned subsidiary of Meituan, and its financial results will be consolidated into Meituan's financial statements.

Meituan stated that Dingdong is a leading fresh grocery e-commerce platform in China, operating more than 1,000 front-end warehouses as of September 2025 and serving over 7 million monthly active users. The company is noted for its high self-procurement rate, strong supply chain capabilities, and high customer repurchase rate. The acquisition is expected to enhance Meituan's product offerings, technology, and operational synergies in the grocery retail sector, aligning with its corporate mission of "helping people eat better and live better."

Following the announcement, Dingdong's U.S.-traded shares rose nearly 10% in pre-market trading.