Benzinga | Jul 26, 2021 11:57AM EDT

MissFresh Partners With Mengniu Dairy To Expand Into China's Neighborhood Retail Sector

* MissFresh Limited (NASDAQ:MF) announced a partnership to provide the full range of Mengniu Dairy's 70 dairy products to bring more choices to the MissFresh app and WeChat Mini Program users.

* MissFresh will supply Mengniu's full range of products, including milk, yogurt, ice cream, and other beverages.

* Mengniu and MissFresh will also deepen their cooperation in the digital supply chain and jointly upgrade the management process for the dairy product category by launching a new "consumer-to-manufacturer" (C2M) customized yogurt product next year.

* MissFresh expects the partnership to help expand its presence into China's neighborhood retail sector.

* Price action: MF shares are trading lower by 15.8% at $5.63 on the last check Tuesday.