Core Viewpoint - Meituan has reached a preliminary agreement to acquire a majority stake in the fresh food e-commerce platform Dingdong Maicai for approximately $717 million, which could significantly reshape the competitive landscape in China's fresh retail sector [1][2][3] Summary by Sections Meituan's Strategic Intent - The acquisition is a strategic move for Meituan, which, despite having established its "Meituan Grocery" and "Meituan Preferred" businesses, faces intense competition from vertical rivals like Dingdong Maicai and Meiri Youshu [1][2] - By acquiring Dingdong, Meituan aims to gain access to its well-established front warehouse network in first- and second-tier cities, a loyal user base, and professional fresh supply chain capabilities [1][3] Defensive Acquisition - Analysts view this acquisition as a critical enhancement to Meituan's instant retail landscape and an efficient "defensive acquisition" against competitors like ByteDance and Alibaba, which have been intensifying their efforts in instant retail [3] - The integration of Dingdong into Meituan's ecosystem is expected to solidify Meituan's absolute advantage in the high-frequency fresh goods category and strengthen its "everything to home" moat [3] Dingdong Maicai's Position - For Dingdong Maicai, accepting the acquisition is a pragmatic response to dual pressures from the capital market and operational challenges, especially since its IPO in 2021 [2][3] - Although Dingdong has improved its gross margin and reduced losses through strategic contraction, it has struggled to achieve profitability, making independent survival increasingly challenging [2][3] - The $717 million offer provides Dingdong's shareholders with a clear exit and value realization pathway, and joining Meituan's ecosystem could end its prolonged struggle for survival, allowing its supply chain and operational strengths to be leveraged on a larger platform [2][3]

Group 1 - The core point of the news is that Meituan announced the acquisition of 100% equity of Dingdong Maicai's China business for approximately $717 million, with Dingdong Maicai's market value at $694 million prior to the announcement [1][3] - Dingdong Maicai's overseas business will not be included in this transaction and will be divested before the closing [3] - Dingdong Maicai, founded in 2017, is a leading fresh food instant retail platform in China, known for its "delivery in as fast as 29 minutes" service [3] Group 2 - In Q3 2025, Dingdong Maicai achieved a record quarterly revenue of 6.66 billion RMB and a net profit of 80 million RMB, marking seven consecutive quarters of profitability under GAAP standards [3] - Meituan emphasizes the importance of instant retail and believes that Dingdong Maicai's philosophy aligns well with its mission to enhance consumer experience [5] - As of September 2025, Dingdong Maicai had over 7 million monthly purchasing users, benefiting from strong supply chain capabilities and a nationwide direct sourcing model [5]

Group 1 - The core point of the article is that Meituan announced the acquisition of 100% equity in Dingdong Maicai's China business for approximately $717 million, with the overseas business excluded from the transaction [1] - Dingdong Maicai, founded in 2017, is a leading fresh food instant retail platform in China, known for its "29-minute delivery" service [1] - As of Q3 2025, Dingdong Maicai achieved a record quarterly revenue of 6.66 billion RMB and a net profit of 80 million RMB, marking seven consecutive quarters of profitability under GAAP standards [1] Group 2 - Meituan emphasizes the importance of instant retail and aims to leverage Dingdong Maicai's strengths in product quality, technology, and operations to enhance consumer experience [1] - As of September 2025, Dingdong Maicai had over 7 million monthly purchasing users, benefiting from a strong supply chain and direct sourcing model [1] - In recent years, Meituan has been exploring new retail formats like Xiaoxiang Supermarket to meet the growing demand for instant retail in China, with expectations for agricultural product sales to exceed 20 billion RMB by 2025 [2]

美团方面表示，本次收购将整合双方在商品力、技术、运营等领域的优势，进一步提升消费者的消费与 配送体验。 2月5日，美团于香港联交所发布公告称，将以约7.17亿美元的初始对价，完成对叮咚买菜中国业务 100%股权的收购。本次交易中，叮咚买菜海外业务不在收购范围内，将在交割前完成剥离；交易过渡 期内，叮咚买菜将维持原有运营模式。 近年来，美团正加速布局即时零售赛道，旗下小象超市已成为核心业态。有关数据显示，小象超市2025 年农产品销售额预计超200亿元，目前已在全国20个城市开设近千个前置仓，并计划逐步覆盖所有一、 二线城市，其"源头直采"项目也将拓展至全国200个县级农产区。另外，小象超市线下店也在国内市场 落地，2025年年底小象超市北京首店开业就吸引了大量人流。 作为国内生鲜即时零售赛道的头部玩家，叮咚买菜创立于2017年，于2021年登陆纽交所，主打"最快29 分钟送达"的前置仓配送模式。 财务数据显示，2025年三季度，叮咚买菜营收达66.6亿元，创历史季度新高；净利润0.8亿元，连续7个 季度实现GAAP标准下盈利。截至2025年9月，叮咚买菜的月购买用户数超700万户，依托领先的供应链 能力与全国 ...

记者丨张嘉钰刘婧汐 编辑丨黎雨桐 叮咚买菜创立于2017年5月，聚焦"厨房买菜"场景，采用前置仓模式，布局贴近消费者，覆盖周边1～3 公里，以生鲜鲜活为亮点，覆盖多种品类。 2月5日盘后，美团在港交所最新公告，公司拟以7.17亿美元收购中国大陆领先的生鲜电商企业叮咚的全 部已发行股份。根据协议，转让方可从目标集团提取不超过2.8亿美元的资金，但需确保目标集团净现 金不低于1.5亿美元。 此次收购将使目标公司成为美团的间接全资附属公司，其财务业绩将并入美团的财务报表。 叮咚买菜于2018—2021年密集融资，颇受资本喜爱。 2018年5月—2021年5月，叮咚买菜共完成10轮机构融资，累计募资约10.3亿美元，主要股东包括软银愿 景、DST Global、今日资本、General Atlantic等国内外知名VC/PE机构。 资本市场上，美团今日港股涨1.79%，最新市值报5733亿港元。叮咚买菜美股盘前涨近5%，最新市值为 7.6亿美元。 | NYSE USD 20:04:00 | | | | | | ADR / 0 + | | --- | --- | --- | --- | --- | --- | --- ...

【#美团拟以7.17亿美元收购叮咚#】美团公告，公司拟以7.17亿美元收购中国大陆领先的生鲜电商企业 叮咚的全部已发行股份。根据协议，转让方可从目标集团提取不超过2.8亿美元的资金，但需确保目标 集团净现金不低于1.5亿美元。此次收购将使目标公司成为美团的间接全资附属公司，其财务业绩将并 入美团的财务报表。（新浪财经） ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年1月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 美团 呈交日期: 2026年2月5日 I. 法定/註冊股本變動 | 1. 股份分類 | 不同投票權架構公司普通股 | | 股份類別 | B | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 03690 | | 說明 | | | | | | | | | 多櫃檯證券代號 | 83690 | RMB | 說明 | | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | | 9,264,431,217 | USD | | 0.00001 | USD | | 92,644.31 | | 增加 / 減少 (-) | | | | | | | | USD | | | | 本月底結存 | | | ...

叮咚是中国大陆领先的生鲜电商企业，由梁昌霖先生创立及控制，而目标公司为叮咚的直接全资附属公 司。收购事项完成后，目标公司将成为本公司的间接全资附属公司，而目标集团的财务业绩将并入本集 团的财务报表。 本公司高度重视食杂零售业务，本次交易符合本公司在食杂零售领域的长期发展规划。叮咚是国内食杂 零售领域头部玩家，其追求"好用户、好商品、好服务、好心智"的理念，与美团"帮大家吃得更好，生 活更好"的使命十分契合。截至2025年9月，叮咚在国内共运营超过1000个前置仓，月购买用户数超过 700万。叮咚具备市场一流的供应链能力，生鲜产地直采率高，自有品牌产品矩阵丰富，复购率高，深 受消费者喜爱。本次交易将有助于充分发挥双方在商品力、技术、运营等方面的优势，为消费者提供更 优质的消费和配送体验。基于上述原因，董事(包括独立非执行董事)认为，收购事项乃按属公平合理的 一般商业条款进行，且收购事项符合本公司及其股东的整体利益。 美团-W(03690)发布公告，于2026年2月5日，收购方Two Hearts Investments Limited(本公司的间接全资附 属公司)、转让方Dingdong(Cayman)Limi ...

凤凰网科技讯2月5日，美团公告，公司拟以7.17亿美元收购中国大陆领先的生鲜电商企业叮咚买菜的全部已发 行股份。根据协议，转让方可从目标集团提取不超过2.8亿美元的资金，但需确保目标集团净现金不低于1.5亿 美元。此次收购将使目标公司成为美团的间接全资附属公司，其财务业绩将并入美团的财务报表。 叮咚买菜是中国一家自营生鲜电商平台，由上海壹佰米网络科技有限公司于2017年5月创立。该平台采用前置 仓模式，提供蔬菜、水果、肉禽蛋、水产等生鲜商品，主打"最快29分钟送达"服务。 财务数据显示，叮咚买菜相关目标集团在2024年已实现扭亏为盈，2025年前三季度继续保持盈利状态。 美团在公告中表示，本次交易完成后，将有助于其进一步完善在食杂零售领域的业务布局。公告同时提示，收 购事项能否最终完成仍取决于相关条件的达成，存在一定不确定性，投资者需注意风险。 ...

凤凰网科技讯2月5日，美团公告，公司拟以7.17亿美元收购中国大陆领先的生鲜电商企业叮咚的全部已 发行股份。根据协议，转让方可从目标集团提取不超过2.8亿美元的资金，但需确保目标集团净现金不 低于1.5亿美元。此次收购将使目标公司成为美团的间接全资附属公司，其财务业绩将并入美团的财务 报表。 ...