Overview
- On Feb. 5, Meituan notified the Hong Kong Stock Exchange that it plans to acquire Dingdong Maicai for $717 million.
- IT Home reported the amount equates to roughly 49.78 billion yuan at the cited exchange rate.
- On Feb. 9, Dingdong stated via its official Xiaohongshu account that its business and team remain normal and stable.
- The company said it will keep service running through the holiday for a ninth consecutive Lunar New Year.
- Founder Liang Changlin sent an all-hands letter addressing staff concerns over sale reports, saying operations and development opportunities will remain steady.