Dingdong to sell China business to Meituan for US$717 million

Irene Dong

10th Feb 2026

Fresh grocery e-commerce company Dingdong will sell its China business to a Meituan subsidiary in a deal valued at an initial US$717 million in cash.

Under the agreement, Two Hearts Investments, a wholly owned subsidiary of Meituan, will acquire all outstanding shares of Dingdong Fresh Holding Limited, which holds Dingdong’s China operations. Dingdong’s international business is excluded from the transaction and will be retained by the company following a corporate reorganisation.

“This transaction is subject to the satisfaction of customary conditions precedent, including necessary regulatory approvals, and approval by our shareholders,” said Changlin Liang, founder, director and CEO of Dingdong. 

“We have and will continue to ensure full regulatory and legal compliance and transparency throughout the process.” 

Dingdong said 90 per cent of the purchase price will be paid at closing, with the remaining 10 per cent payable after applicable taxes are settled.

Last year, Dingdong also partnered with DFI Retail Group to develop a digitalised cross-border supply chain system for fresh food.