Dingdong Maicai Appoints New Leadership: Founder Liang Changlin Resigns as CEO, CFO Wang Song Takes Over

Fresh grocery e-commerce platform Dingdong Maicai recently announced a personnel change, revealing significant adjustments to its core management team: Founder Liang Changlin resigned as CEO, and former CFO Wang Song took over as CEO starting March 4, also resigning from his CFO position; Liang Changlin will continue to serve as Chairman of the Board, focusing on company strategy and board governance. Meanwhile, CTO Jiang Xu will leave at the end of March due to personal reasons, with his responsibilities redistributed among the existing team.

This personnel change comes just one month after Meituan’s full acquisition of Dingdong Maicai. Industry insiders see this as a key step in Meituan’s deep integration of Dingdong Maicai.

As a core figure in Dingdong Maicai’s eight-year entrepreneurial journey, Liang Changlin founded the company before 2017 using a pre-warehouse model, leading the company from Shanghai. In 2021, it went public on the NYSE, achieving stable profitability during the industry downturn and building a supply chain system that sources over 85% of fresh produce directly from sources. Dingdong Maicai is Liang Changlin’s fourth startup and his longest-running venture. His early entrepreneurial experience helped him accumulate user growth and community operation expertise.

Dingdong Maicai Founder Liang Changlin Photo source: Dingdong Maicai official website

Public information shows that new CEO Wang Song has nearly 20 years of experience in the consumer retail industry. He joined Dingdong Maicai in September 2023, serving as Senior Vice President and CFO, and also chairs the company’s proprietary supply chain project “Dingdong Guyu.” He has previously worked at leading companies such as Ele.me, Hema Fresh, and Lianhua Supermarket, with deep expertise in financial control and supply chain integration. Industry analysts believe Wang Song’s background will help Dingdong Maicai better integrate into the Meituan ecosystem, promote resource coordination in warehousing and fulfillment, and further improve operational efficiency.

On February 5, Meituan announced plans to acquire all issued shares of Dingdong, a listed fresh grocery e-commerce company in the U.S., for $717 million. According to the agreement, the transferor can withdraw up to $280 million from the target group, provided that the target’s net cash remains above $150 million. This acquisition will make Dingdong an indirect wholly owned subsidiary of Meituan, with its financial performance consolidated into Meituan’s financial statements.

Fresh grocery e-commerce companies not only spend heavily on front-end warehouses but also face high fulfillment costs. By 2021, when Dingdong Maicai went public, it was still operating at a loss. Now, it has achieved profitability for several consecutive quarters. Financial reports show that in Q3 2025, Dingdong Maicai achieved revenue of 6.66 billion yuan, a record high for a quarter, up 1.9% year-over-year; net profit under non-GAAP measures was 101.3 million yuan, with a net profit margin of 1.5%.

Some analysts believe that although Dingdong Maicai is profitable, its net profit margin of 1.2%-1.5% remains relatively low, and it still faces competition from rivals like Meituan’s Xiaoxiang Supermarket and Hema. Growth potential is limited. From a resource perspective, Dingdong Maicai’s advantages can also complement those of Xiaoxiang Supermarket.

On February 5, Liang Changlin sent an internal letter to all employees stating, “Let’s put aside competition and move forward together.” He emphasized that this acquisition does not weaken Dingdong Maicai’s core capabilities. On the contrary, under a larger platform system, Dingdong Maicai’s accumulated strengths in product quality, fulfillment services, and supply chain efficiency are expected to find broader application. He also stressed that after the transaction is completed, Dingdong Maicai’s operations and team structure will remain relatively stable.

On February 9, in response to the recent “acquisition,” Dingdong Maicai posted on its official Xiaohongshu account: “Please rest assured, Dingdong Maicai is operating steadily. Whether it’s product development, delivery personnel, or quality control teams, all our partners are continuing to work diligently. From carefully selecting each ingredient to delivering every order on time, our commitment to quality has never changed.”