Dingdong (Cayman) Limited (the “Company”) was incorporated in the Cayman Islands in October 2018 by Mr. Liang Changlin, (the “Founder”) and Chief Executive Officer (“CEO”) of the Company. The Company, through its consolidated subsidiaries (collectively, the “Group”), operates fresh grocery

e-commerce

business that offers primarily fresh groceries, prepared food and other food products directly delivered to users and households in the People’s Republic of China (the “PRC”).

As of December 31, 2021, the Group’s major subsidiaries are as follows:

Major subsidiaries

Percentage of

Ownership

Date of

Incorporation

Place of

Incorporation

Major

Operation

Dingdong Fresh Holding Limited (“Dingdong Fresh BVI”)

100

October 30, 2018

British Virgin
Islands (“BVI”)

Investment holding

Dingdong Fresh (Hong Kong) Limited (“Dingdong HK”)

100

January 4, 2019

Hong Kong

Investment holding

Baqianlilu (Wuxi) Network Technology Co., Ltd.

100

May 9, 2020

PRC

E-commerce

Shanghai 100me Internet Technology Co., Ltd. (“Shanghai 100me”)

100

March 23, 2014

PRC

E-commerce

Yihengyishu (Shanghai)

E-Commerce

Co., Ltd.

100

April 12, 2017

PRC

E-commerce

Chizhiyiheng (Shanghai)

E-commerce

Co., Ltd.(“Chizhiyiheng Shanghai”)

100

July 18, 2018

PRC

E-commerce

Shilaiyunzhuan (Hangzhou)

E-commerce

Co., Ltd.

100

January 4, 2019

PRC

E-commerce

Shishishun (Shenzhen)

E-commerce

Co., Ltd.

100

July 12, 2019

PRC

E-commerce

Shishishun (Jiangsu)

E-Commerce

Co., Ltd.

100

September 18, 2019

PRC

E-commerce

Chao Lizhi (Jiangsu)

E-Commerce

Co., Ltd.

100

November 14, 2019

PRC

E-commerce

Beijing Bujiangjiu

E-Commerce

Co., Ltd.

100

February 28, 2020

PRC

E-commerce

Shanghai Yushengbaigu Food Co., Ltd.

93.05

October 21, 2020

PRC

E-commerce

Chizhiyiheng (Nanjing) Supply Chain Co., Ltd.

100

August 30, 2021

PRC

E-commerce

The Group’s operations are conducted entirely by its domestic subsidiary, Shanghai 100me, a limited liability company established

under

the laws of the PRC on March 23, 2014. Shanghai 100me completed the Angel, Series

Pre-A,

Series A and Series A+ equity financing rounds between 2014 and 2019. Throughout this period and after completion of each of these rounds of financing, the Founder held a controlling equity interest in Shanghai 100me. Further, certain investor directors on Shanghai 100me’s Board of Directors executed vote in concert agreements with the Founder such that he effectively controlled all decisions made by Shanghai 100me’s Board of Directors.

The Company separately completed the Series B, Series B2, Series B3 and Series B4 equity financing rounds from 2018 to the initiation of the Reorganization described below. Throughout this period and after completion of each of these rounds of financing, the Founder held a controlling voting interest in the Company through his directly held equity interests and vote in concert agreements executed between certain shareholders and the Founder.

In preparation of the Company’s initial public offering (“IPO”) in the United States, the Company undertook a series of steps (the “Reorganization”) to establish the Company as the parent company and transfer the business operations in Shanghai 100me and its PRC subsidiaries to the Company, whereby shareholders of Shanghai 100me surrendered their equity interests in Shanghai 100me in exchange for the Company’s redeemable convertible preferred shares in proportion to their ownership interests in Shanghai 100me at a price equal to their original investment principal in Shanghai 100me. By the end of March 2021, all of Shanghai 100me’s shareholders have received their proportionate ordinary shares or redeemable convertible preferred shares in the Company.

As the transfer of Shanghai 100me’s business to the Company was between entities under common control of the Founder, the Reorganization was accounted for in a manner similar to a

pooling-of-interests

with the assets and liabilities of the entities mentioned above carried over at their historical amounts. Accordingly, these consolidated financial statements have been prepared as if the corporate structure of the Company had been in existence since the beginning of the periods presented.

In July 2021, the Company completed its initial public offering (“IPO”) on the New York Stock Exchange (“NYSE”) (Note 13).