Missfresh Announces Strategic Partnership and RMB 200 Million Equity Investment of Shanxi Donghui – Form 6-K

Missfresh Announces Strategic Partnership and RMB 200 Million Equity Investment of Shanxi Donghui

BEIJING, July 14 10, 2022 (GLOBE NEWSWIRE) — Missfresh Limited (“Missfresh” or the “Company”) (NASDAQ: MF), an innovator and leader in China’s convenience retail industry, today announced having formed a strategic partnership with Shanxi Donghui Group (“Shanxi Donghui”), a multinational conglomerate with diversified businesses including energy, non-ferrous metals, cultural tourism and modern agriculture. Pursuant to the strategic investment agreement dated July 14, 2022 (the “Agreement”), Shanxi Donghui will invest RMB 200 million in Missfresh.

Through this strategic partnership, Missfresh and Shanxi Donghui will exchange resources and best practices relating to agricultural operations, sales and marketing to strategically cooperate on a range of initiatives around the agricultural supply chain, including agricultural branding, contract farming and supply chain management.

Pursuant to the agreement, Shanxi Donghui or its designated affiliate will subscribe for 298,507,463 Class B ordinary shares of the Company in an amount equivalent to RMB 200 million USD, subject to satisfaction of the closing condition that Shanxi Donghui or its designated affiliate completes all necessary registrations and obtains all required government approvals in China for its overseas direct investment in the Company within twelve months from the date of signing the Agreement.

Upon closing, Shanxi Donghui will have the right to nominate two directors for nomination and election to the board of directors of the Company.

“We are delighted to welcome Shanxi Donghui as a strategic investor and distinguished partner,” said Mr. Zheng Xu, Founder, Chairman and CEO of the company. “This partnership will help us advance our fresh produce supply chain capabilities and deliver a superior grocery experience to consumers in China. In addition, investment is an important source of capital to finance our business development. We look forward to working closely with Shanxi Donghui. to cultivate high quality agricultural brands and pursue excellence in supply chain management within the agricultural sector and a seamless experience for our customers.”

Incorporated in 2005, Shanxi Donghui is a multinational conglomerate operating in diversified industries including energy, non-ferrous metals, cultural tourism and modern agriculture. Shanxi Donghui currently has several wholly-owned subsidiaries in Shanxi Province, Beijing, Jiangsu Province, Yunnan Province and Hainan Province, as well as in Queensland, Australia.

About Missfresh Limited

Missfresh Limited is an innovator and leader in the convenience retail industry in China. The company invented the Distributed Mini Warehouse (DMW) model to operate an integrated online and offline on-demand retail business focused on offering fresh produce and fast moving consumer goods (FMCG). With the “Missfresh” mobile app and Mini Program integrated with third-party social platforms, consumers can easily buy quality groceries at their fingertips and have the best products delivered to their doorstep in 37 minutes, by mean.

Leveraging its core capabilities, Missfresh launched a smart fresh market business in the second half of 2020. This innovative business model is dedicated to standardizing and transforming fresh markets into smart fresh shopping malls. Missfresh has also implemented a full stack of proprietary technologies that enable a wide range of neighborhood retail participants, such as supermarkets, fresh produce markets and local retailers, to effectively start and operate their business digitally.

For more information, please visit: http://ir.missfresh.cn.

Safe Harbor Statement

This announcement contains statements that may constitute “forward-looking” statements that are made pursuant to the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking statements may be identified by terminology such as “will , “expects”, “anticipates”, “aims”, “future”, “intends”, “plans”, “believes”, “estimates”, “likely”, and similar statements. Statements that are not historical facts, including statements about the Company’s beliefs, plans and expectations, are forward-looking statements. The Company has based these forward-looking statements largely on its current expectations and projections regarding future events and financial trends, which involve known and unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the capacity of the Company. control. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statements, including, but not limited to, the following: risk and uncertainties as to the timing of transactions; the risk that certain conditions to the closing of transactions will not be satisfied in a timely manner, if at all; potential adverse effects or changes in business relationships resulting from the announcement or completion of the transactions; adverse changes in general economic or market conditions; the actions of third parties, including government agencies, that may adversely affect the proposed transactions; potential changes in laws, regulations and government policies or changes in the interpretation and implementation of laws, regulations and government policies that could adversely affect the industries in which Missfresh or its business partners operate, including, among others, initiatives to improve supervision of companies listed on an overseas exchange and tighten control over data privacy and security; impact of the COVID-19 pandemic; natural disasters and geopolitical events; changes in tax rates and financial risks; intensity of competition; and general market and economic conditions in China and around the world. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statements except as required by applicable law.

For investor and media inquiries, please contact:

In China:

missfresh limited

Investor Relations

Tel: +86 (10) 5954-4422

Email: [email protected]

Piacente Group, Inc.

Jenny Cai

Tel: +86 (10) 6508-0677

Email: [email protected]

In the USA:

Piacente Group, Inc.

Brandi Piecente

Tel: +1-212-481-2050

Email: [email protected]

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