Dingdong Sells China Operations to Meituan for Fresh Grocery E-commerce Business.

Dingdong, a leading fresh grocery e-commerce company in China, has entered into a definitive Share Purchase Agreement with Meituan's subsidiary, Two Hearts Investments Limited. Dingdong will sell all its issued and outstanding shares of Dingdong Fresh Holding Limited to the Buyer, which holds substantially all of Dingdong's operations in China. The Company's international business will be retained following necessary reorganizational processes.