2 1 Shi Ji Jing Ji Bao Dao·2025-12-30 10:09Core Viewpoint - There are market rumors that JD.com is in talks to acquire Dingdong Maicai, with both parties exchanging opinions on key terms such as valuation and regional warehouse integration [1] Group 1: Market Reaction - Following the rumors, Dingdong Maicai's stock (DDL.US) rose by 10.29% to $3.00, reaching an intraday high of $3.41, marking the largest single-day increase in 2025 [1] - As of December 30, 2025, Dingdong Maicai's stock closed at $2.68, reflecting a month-to-date increase of approximately 55% [1] Group 2: Historical Context - The rumors of JD.com's potential acquisition of Dingdong Maicai are not new; speculation arose after JD.com sold its entire stake in Yonghui Supermarket in Q3 2023, leading to assumptions that it would invest in the front warehouse sector, with Dingdong Maicai as a possible target [1] - Dingdong Maicai was founded in May 2017, focusing on the "kitchen grocery" scene and utilizing a front warehouse model to cover areas within 1-3 kilometers, emphasizing fresh produce and a variety of categories [1] Group 3: Financial Performance - Dingdong Maicai has achieved continuous profitability, making it a rare "good target" in the front warehouse sector [3] - In Q2 2025, Dingdong Maicai reported revenue of 5.98 billion yuan, a year-on-year increase of 6.7%; GMV reached 6.5 billion yuan, up 4.5%; and total orders grew by 5.5% [3] - The company achieved a net profit of 100 million yuan, marking a 59.7% year-on-year increase and its sixth consecutive quarter of profitability [3]