Meituan: Both issues can be converted into Meituan Class B common stock of $1,483 million of zero-interest convertible bonds due in 2027 and $1.5 billion of zero-interest convertible bonds due in 2028; a subscription agreement was signed with Tencent, where Tencent agreed to subscribe for shares at HK$273.80 per share.

Meituan Announcement: The Board of Directors is pleased to announce that the Company, Tencent and the placement joint book manager entered into a placement and subscription agreement on April 19, 2021. According to this, Tencent agreed to appoint a joint placement book manager, and the placement joint book manager agreed to act as Tencent's agent, prompting the underwriter to purchase placement shares at the placement price of HK$273.80 per share according to the full underwriting benchmark.

Meituan said that the company plans to use the estimated net proceeds from 2027 bonds, 2028 bonds, subscription items and Tencent's subscription items for scientific and technological innovation, including research and development in cutting-edge technology fields such as unmanned vehicles and drone delivery, as well as general corporate purposes.