MissFresh Launches in Ningbo, Adding 17th City as National Expansion Gains Pace

NINGBO,China,Aug. 1,2021 -- MissFresh Limited ("MissFresh" or the "Company") (NASDAQ: MF),an innovator and leader in China's neighborhood retail industry,has launched its Distributed Mini Warehouse-supported fast home delivery operations in Ningbo,offering a range of more than 4,300 products to be delivered in 39 minutes on average. With this latest expansion,MissFresh strengthens its Distributed Mini Warehouse (DMW) network – which integrates warehousing,sorting and distribution to streamline the retail distribution chain – in East China and now operates in 17 first- and second-tier cities.

According to the City Ranking for Business Attractiveness 2021 by the Yicai Big Data Project,Ningbo and 14 other cities were included on the "New First-tier Cities List". With a population of more than 9.4 million,there is high demand in Ningbo for convenient online shopping and fast home delivery of high-quality fresh produce and fast-moving consumer goods. MissFresh's launch in Ningbo is in line with its strategy to continuously expand its DMW network in first- and second-tier cities. The launch will also bolster MissFresh's East China regional supply chain and operations.

To start,MissFresh plans to open 10 DMWs in Ningbo – covering Yinzhou,Haishu and other core urban areas of the city – and provide customers with fruits,vegetables,meat,eggs,live seafood,rice,noodles,grains,oil,convenience foods,and other high-quality products. These will be delivered swiftly to customers' homes within the DMWs' one- to three-kilometer radius. Over the next six months,MissFresh plans to open a total of about 25 DMWs in Ningbo,covering most of the city's core areas.

Since its establishment,MissFresh has prioritized the development of its supply chains. Currently,more than 80% of the company's products are directly sourced from the place of origin,and 100% of its fresh products are subject to strict quality inspection – this helps MissFresh to ensure that its products are the best value for its customers. At the same time,the company closely controls food safety and product quality. Factoring in Ningbo citizens' love of seafood,MissFresh also provides a selection of fresh and chilled products as well as foods from local brands.

In addition to Ningbo,MissFresh plans to expand its DMW-supported fast home delivery retail business to more second-tier cities,and will also increase its efforts to digitalize and upgrade traditional fresh markets into Intelligent Fresh Markets.

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