Xi Niu Cai Jing·2026-02-05 11:09Group 1 - Meituan announced the acquisition of 100% equity in Dingdong Maicai's China business for an initial consideration of $717 million (approximately 5.15 billion yuan) [2] - After the transaction, Dingdong Maicai will become a wholly-owned subsidiary of Meituan, and its financial performance will be consolidated into Meituan's financial statements [2] - The overseas business of Dingdong Maicai is excluded from this transaction and will be divested before the closing [3] Group 2 - During the transition period, Dingdong Maicai will continue to operate independently under its original business model [3] - According to the share transfer agreement, the seller can withdraw up to $280 million from the target group after the transaction, ensuring that Dingdong Maicai's net cash remains above $150 million [3] - Meituan stated that the acquisition was negotiated fairly and based on independent valuation, with the applicable percentage exceeding 5% but below 25%, qualifying as a discloseable transaction exempt from Hong Kong Stock Exchange shareholder approval [3] Group 3 - Dingdong Maicai was established in 2017 and went public on the New York Stock Exchange in 2021 [3] - As of the third quarter of 2025, Dingdong Maicai reported quarterly revenue of 6.66 billion yuan and a net profit of 80 million yuan, achieving profitability under GAAP standards for seven consecutive quarters [3] - As of the announcement date, Dingdong Maicai's pre-market market capitalization was approximately $694 million [3]