diff --git a/packages/vite/misc/rolldown-runtime.js b/packages/vite/misc/rolldown-runtime.js
index 9a1ab16ffa7dbe..2dd968ae9adf50 100644
--- a/packages/vite/misc/rolldown-runtime.js
+++ b/packages/vite/misc/rolldown-runtime.js
@@ -82,10 +82,30 @@ var __toBinary = /* @__PURE__ */ (() => {
   }
 })()
 
+/**
+ * @typedef {(runtime: unknown) => void} ModuleFactory
+ * @typedef {Record<string, ModuleFactory>} ModuleFactoryMap
+ * @typedef {{ exports: unknown, parents: string[], hot: any }} ModuleCacheEntry
+ * @typedef {Record<string, ModuleCacheEntry>} ModuleCache
+ */
+
 self.__rolldown_runtime = {
+  /**
+   * @type {string[]}
+   */
   executeModuleStack: [],
+  /**
+   * @type {ModuleCache}
+   */
   moduleCache: {},
+  /**
+   * @type {ModuleFactoryMap}
+   */
   moduleFactoryMap: {},
+  /**
+   * @param {string} id
+   * @returns {unknown}
+   */
   require: function (id) {
     const parent = this.executeModuleStack.at(-1)
     if (this.moduleCache[id]) {
@@ -122,9 +142,10 @@ self.__rolldown_runtime = {
     })
     this.executeModuleStack.push(id)
     factory({
-      require: this.require.bind(this),
       module,
       exports: module.exports,
+      require: this.require.bind(this),
+      ensureChunk: this.ensureChunk.bind(this),
       __toCommonJS,
       __toESM,
       __export,
@@ -133,6 +154,9 @@ self.__rolldown_runtime = {
     this.executeModuleStack.pop()
     return module.exports
   },
+  /**
+   * @param {ModuleFactoryMap} newModuleFactoryMap
+   */
   patch: function (newModuleFactoryMap) {
     var boundaries = []
     var invalidModuleIds = []
@@ -228,4 +252,22 @@ self.__rolldown_runtime = {
       }
     }
   },
+  /** @type {{ chunks: Record<string, { fileName: string, imports: string[] }> }} */
+  manifest: {},
+  /**
+   * @param {string} chunkName
+   */
+  async ensureChunk(chunkName) {
+    await this.ensureChunkDeps(chunkName)
+    const file = this.manifest.chunks[chunkName].fileName
+    await import(`/${file}`)
+  },
+  /**
+   * @param {string} chunkName
+   */
+  async ensureChunkDeps(chunkName) {
+    for (const file of this.manifest.chunks[chunkName].imports) {
+      await import(`/${file}`)
+    }
+  },
 }
diff --git a/packages/vite/src/node/server/environments/rolldown.ts b/packages/vite/src/node/server/environments/rolldown.ts
index 0ce3d989b4a707..7b94d580a21476 100644
--- a/packages/vite/src/node/server/environments/rolldown.ts
+++ b/packages/vite/src/node/server/environments/rolldown.ts
@@ -8,7 +8,7 @@ import MagicString from 'magic-string'
 import type * as rolldown from 'rolldown'
 import * as rolldownExperimental from 'rolldown/experimental'
 import sirv from 'sirv'
-import { createLogger } from '../../publicUtils'
+import { createLogger, normalizePath } from '../../publicUtils'
 import { DevEnvironment } from '../environment'
 import type {
   ConfigEnv,
@@ -294,20 +294,22 @@ class RolldownEnvironment extends DevEnvironment {
     )
   }
 
-  async buildHmr(
-    file: string,
-  ): Promise<rolldown.RolldownOutputChunk | undefined> {
+  async buildHmr(file: string): Promise<{
+    manifest: ChunkManifest
+    chunk?: rolldown.RolldownOutputChunk
+  }> {
     logger.info(`hmr '${file}'`, { timestamp: true })
     console.time(`[rolldown:${this.name}:rebuild]`)
     await this.buildInner()
     console.timeEnd(`[rolldown:${this.name}:rebuild]`)
+    const manifest = getChunkManifest(this.result.output)
     const chunk = this.result.output.find(
       (v) => v.type === 'chunk' && v.name === 'hmr-update',
     )
     if (chunk) {
       assert(chunk.type === 'chunk')
-      return chunk
     }
+    return { manifest, chunk }
   }
 
   async handleUpdate(ctx: HmrContext): Promise<void> {
@@ -327,17 +329,32 @@ class RolldownEnvironment extends DevEnvironment {
       this.rolldownDevOptions.hmr ||
       this.rolldownDevOptions.ssrModuleRunner
     ) {
-      const chunk = await this.buildHmr(ctx.file)
-      if (!chunk) {
-        return
-      }
+      const result = await this.buildHmr(ctx.file)
       if (this.name === 'client') {
-        ctx.server.ws.send('rolldown:hmr', chunk.fileName)
+        ctx.server.ws.send('rolldown:hmr', {
+          manifest: result.manifest,
+          fileName: result.chunk?.fileName,
+        })
+        // full reload on html
+        // TODO: what's the general way to handle this?
+        // should plugin (vite:build-html) be responsible of handling this?
+        if (ctx.file.endsWith('.html')) {
+          ctx.server.ws.send({
+            type: 'full-reload',
+            path:
+              '/' + normalizePath(path.relative(this.config.root, ctx.file)),
+          })
+        }
       } else {
-        this.getRunner().evaluate(
-          chunk.code,
-          path.join(this.outDir, chunk.fileName),
-        )
+        // TODO: manifest
+        if (result.chunk) {
+          await (
+            await this.getRunner()
+          ).evaluate(
+            result.chunk.code,
+            path.join(this.outDir, result.chunk.fileName),
+          )
+        }
       }
     } else {
       await this.build()
@@ -349,20 +366,20 @@ class RolldownEnvironment extends DevEnvironment {
 
   runner!: RolldownModuleRunner
 
-  getRunner() {
+  async getRunner() {
     if (!this.runner) {
       const output = this.result.output[0]
       const filepath = path.join(this.outDir, output.fileName)
       this.runner = new RolldownModuleRunner()
       const code = fs.readFileSync(filepath, 'utf-8')
-      this.runner.evaluate(code, filepath)
+      await this.runner.evaluate(code, filepath)
     }
     return this.runner
   }
 
   async import(input: string): Promise<unknown> {
     if (this.outputOptions.format === 'experimental-app') {
-      return this.getRunner().import(input)
+      return (await this.getRunner()).import(input)
     }
     // input is no use
     const output = this.result.output[0]
@@ -390,14 +407,14 @@ class RolldownModuleRunner {
     return mod.exports
   }
 
-  evaluate(code: string, sourceURL: string) {
+  async evaluate(code: string, sourceURL: string) {
     // extract sourcemap and move to the bottom
     const sourcemap = code.match(/^\/\/# sourceMappingURL=.*/m)?.[0] ?? ''
     if (sourcemap) {
       code = code.replace(sourcemap, '')
     }
     code = `\
-'use strict';(${Object.keys(this.context).join(',')})=>{{${code}
+'use strict';async (${Object.keys(this.context).join(',')})=>{{${code}
 }}
 //# sourceURL=${sourceURL}
 //# sourceMappingSource=rolldown-module-runner
@@ -405,7 +422,7 @@ ${sourcemap}
 `
     const fn = (0, eval)(code)
     try {
-      fn(...Object.values(this.context))
+      await fn(...Object.values(this.context))
     } catch (e) {
       console.error('[RolldownModuleRunner:ERROR]', e)
       throw e
@@ -416,53 +433,91 @@ ${sourcemap}
 function patchRuntimePlugin(environment: RolldownEnvironment): rolldown.Plugin {
   return {
     name: 'vite:rolldown-patch-runtime',
-    renderChunk(code, chunk) {
-      // TODO: this magic string is heavy
-
-      if (chunk.name === 'hmr-update') {
-        const output = new MagicString(code)
-        output.append(`
-self.__rolldown_runtime.patch(__rolldown_modules);
-`)
-        return {
-          code: output.toString(),
-          map: output.generateMap({ hires: 'boundary' }),
-        }
+    renderChunk(code) {
+      // TODO: source map is broken otherwise
+      const output = new MagicString(code)
+      return {
+        code: output.toString(),
+        map: output.generateMap({ hires: 'boundary' }),
       }
-
-      if (chunk.isEntry) {
-        const output = new MagicString(code)
-        assert(chunk.facadeModuleId)
-        const stableId = path.relative(
-          environment.config.root,
-          chunk.facadeModuleId,
-        )
-        output.append(`
+    },
+    generateBundle(_options, bundle) {
+      // inject chunk manifest
+      const manifest = getChunkManifest(Object.values(bundle))
+      for (const chunk of Object.values(bundle)) {
+        if (chunk.type === 'chunk') {
+          if (chunk.isEntry) {
+            chunk.code +=
+              '\n;' +
+              fs.readFileSync(
+                path.join(VITE_PACKAGE_DIR, 'misc', 'rolldown-runtime.js'),
+                'utf-8',
+              )
+            if (environment.name === 'client') {
+              chunk.code += getRolldownClientCode()
+            }
+            if (environment.rolldownDevOptions.reactRefresh) {
+              chunk.code += getReactRefreshRuntimeCode()
+            }
+            chunk.code += `
+self.__rolldown_runtime.manifest = ${JSON.stringify(manifest, null, 2)};
+`
+          }
+          if (chunk.name === 'hmr-update') {
+            chunk.code += `
+self.__rolldown_runtime.patch(__rolldown_modules);
+`
+          } else {
+            // TODO: avoid top-level-await?
+            chunk.code += `
 Object.assign(self.__rolldown_runtime.moduleFactoryMap, __rolldown_modules);
+await self.__rolldown_runtime.ensureChunkDeps(${JSON.stringify(chunk.name)});
+`
+          }
+          if (chunk.isEntry) {
+            assert(chunk.facadeModuleId)
+            const stableId = path.relative(
+              environment.config.root,
+              chunk.facadeModuleId,
+            )
+            chunk.code += `
 self.__rolldown_runtime.require(${JSON.stringify(stableId)});
-`)
-
-        // inject runtime
-        const runtimeCode = fs.readFileSync(
-          path.join(VITE_PACKAGE_DIR, 'misc', 'rolldown-runtime.js'),
-          'utf-8',
-        )
-        output.prepend(runtimeCode)
-        if (environment.name === 'client') {
-          output.prepend(getRolldownClientCode())
-        }
-        if (environment.rolldownDevOptions.reactRefresh) {
-          output.prepend(getReactRefreshRuntimeCode())
-        }
-        return {
-          code: output.toString(),
-          map: output.generateMap({ hires: 'boundary' }),
+`
+          }
+          chunk.code = moveInlineSourcemapToEnd(chunk.code)
         }
       }
     },
   }
 }
 
+export type ChunkManifest = {
+  chunks: Record<string, { fileName: string; imports: string[] }>
+}
+
+function getChunkManifest(
+  outputs: (rolldown.RolldownOutputChunk | rolldown.RolldownOutputAsset)[],
+): ChunkManifest {
+  const manifest: ChunkManifest = {
+    chunks: {},
+  }
+  for (const chunk of outputs) {
+    if (chunk.type === 'chunk') {
+      const { fileName, imports } = chunk
+      manifest.chunks[chunk.name] = { fileName, imports }
+    }
+  }
+  return manifest
+}
+
+function moveInlineSourcemapToEnd(code: string) {
+  const sourcemap = code.match(/^\/\/# sourceMappingURL=.*/m)?.[0]
+  if (sourcemap) {
+    code = code.replace(sourcemap, '') + '\n' + sourcemap
+  }
+  return code
+}
+
 // patch vite:css transform for hmr
 function patchCssPlugin(): rolldown.Plugin {
   return {
@@ -518,12 +573,15 @@ function getRolldownClientCode() {
   code += `
 const hot = createHotContext("/__rolldown");
 hot.on("rolldown:hmr", (data) => {
-  import("/" + data + "?t=" + Date.now());
+  self.__rolldown_runtime.manifest = data.manifest;
+  if (data.fileName) {
+    import("/" + data.fileName + "?t=" + Date.now());
+  }
 });
 self.__rolldown_hot = hot;
 self.__rolldown_updateStyle = updateStyle;
 `
-  return `;(() => {/*** @vite/client ***/\n${code}}\n)();`
+  return `\n;(() => {/*** @vite/client ***/\n${code}}\n)();\n`
 }
 
 function reactRefreshPlugin(): rolldown.Plugin {
@@ -561,7 +619,7 @@ function getReactRefreshRuntimeCode() {
     'utf-8',
   )
   const output = new MagicString(code)
-  output.prepend('self.__react_refresh_runtime = {};\n')
+  output.prepend('\n;self.__react_refresh_runtime = {};\n')
   output.replaceAll('process.env.NODE_ENV !== "production"', 'true')
   output.replaceAll(/\bexports\./g, '__react_refresh_runtime.')
   output.append(`
diff --git a/playground/rolldown-dev-mpa/__tests__/basic.spec.ts b/playground/rolldown-dev-mpa/__tests__/basic.spec.ts
index 36184a5432a684..1ff5c869cdb17a 100644
--- a/playground/rolldown-dev-mpa/__tests__/basic.spec.ts
+++ b/playground/rolldown-dev-mpa/__tests__/basic.spec.ts
@@ -2,10 +2,13 @@ import { test } from 'vitest'
 import { page } from '../../test-utils'
 
 test('basic', async () => {
+  page.setDefaultTimeout(1000)
   await page.getByRole('heading', { name: 'Home' }).click()
   await page.getByText('Rendered by /index.js').click()
+  await page.getByText('shared: [ok]').click()
   await page.getByRole('link', { name: 'About' }).click()
   await page.waitForURL(/\/about/)
   await page.getByRole('heading', { name: 'About' }).click()
   await page.getByText('Rendered by /about/index.js').click()
+  await page.getByText('shared: [ok]').click()
 })
diff --git a/playground/rolldown-dev-mpa/about/index.html b/playground/rolldown-dev-mpa/about/index.html
index 6c295a1671186f..378dd87df6754d 100644
--- a/playground/rolldown-dev-mpa/about/index.html
+++ b/playground/rolldown-dev-mpa/about/index.html
@@ -6,7 +6,7 @@
       <h1>About</h1>
       <ul>
         <li><a href="/">Home</a></li>
-        <li><a href="/about">About</a></li>
+        <li><a href="/about/">About</a></li>
       </ul>
     </div>
     <div id="root"></div>
diff --git a/playground/rolldown-dev-mpa/about/index.js b/playground/rolldown-dev-mpa/about/index.js
index 2ed4b10fa69e81..84863e60802935 100644
--- a/playground/rolldown-dev-mpa/about/index.js
+++ b/playground/rolldown-dev-mpa/about/index.js
@@ -1,3 +1,6 @@
+import shared from '../shared'
+
 document.getElementById('root').innerHTML = `
   <p>Rendered by /about/index.js: ${Math.random().toString(36).slice(2)}</p>
+  <pre>shared: ${shared}</pre>
 `
diff --git a/playground/rolldown-dev-mpa/index.html b/playground/rolldown-dev-mpa/index.html
index 0564e5db9b089f..c4bed2f788fb57 100644
--- a/playground/rolldown-dev-mpa/index.html
+++ b/playground/rolldown-dev-mpa/index.html
@@ -6,7 +6,7 @@
       <h1>Home</h1>
       <ul>
         <li><a href="/">Home</a></li>
-        <li><a href="/about">About</a></li>
+        <li><a href="/about/">About</a></li>
       </ul>
       <div id="root"></div>
       <script type="module" src="./index.js"></script>
diff --git a/playground/rolldown-dev-mpa/index.js b/playground/rolldown-dev-mpa/index.js
index a80b0213257e3a..250f54a1f9c8d7 100644
--- a/playground/rolldown-dev-mpa/index.js
+++ b/playground/rolldown-dev-mpa/index.js
@@ -1,3 +1,6 @@
+import shared from './shared'
+
 document.getElementById('root').innerHTML = `
   <p>Rendered by /index.js: ${Math.random().toString(36).slice(2)}</p>
+  <pre>shared: ${shared}</pre>
 `
diff --git a/playground/rolldown-dev-mpa/shared.js b/playground/rolldown-dev-mpa/shared.js
new file mode 100644
index 00000000000000..ca3fb00232166e
--- /dev/null
+++ b/playground/rolldown-dev-mpa/shared.js
@@ -0,0 +1 @@
+export default '[ok]'
diff --git a/playground/rolldown-dev-react/__tests__/basic.spec.ts b/playground/rolldown-dev-react/__tests__/basic.spec.ts
index 193301c1de2385..342bf8c7677c88 100644
--- a/playground/rolldown-dev-react/__tests__/basic.spec.ts
+++ b/playground/rolldown-dev-react/__tests__/basic.spec.ts
@@ -1,4 +1,4 @@
-import { expect, test } from 'vitest'
+import { expect, test, vi } from 'vitest'
 import { addFile, editFile, isBuild, page, viteTestUrl } from '../../test-utils'
 
 test('basic', async () => {
@@ -92,3 +92,28 @@ test.runIf(!isBuild)('hmr new file', async () => {
 
   await page.getByRole('button', { name: 'Count-[new-file:ok]: 1' }).click()
 })
+
+test('dynamic import chunk', async () => {
+  await page.goto(viteTestUrl)
+  await page.locator('.test-dynamic-import button').click()
+  await expect
+    .poll(() => page.textContent('.test-dynamic-import'))
+    .toContain('[ok]')
+})
+
+test.runIf(!isBuild)('dynamic import chunk update', async () => {
+  await page.goto(viteTestUrl)
+  editFile('./src/dynamic-import-dep.ts', (s) => s.replace('[ok]', '[ok-edit]'))
+  await vi.waitFor(
+    async () => {
+      await page.locator('.test-dynamic-import button').click()
+      await expect
+        .poll(() => page.textContent('.test-dynamic-import'))
+        .toContain('[ok-edit]')
+    },
+    {
+      timeout: 2000,
+      interval: 500,
+    },
+  )
+})
diff --git a/playground/rolldown-dev-react/src/app.tsx b/playground/rolldown-dev-react/src/app.tsx
index 4138c54e249a0f..4ef63cbcc10ff9 100644
--- a/playground/rolldown-dev-react/src/app.tsx
+++ b/playground/rolldown-dev-react/src/app.tsx
@@ -7,6 +7,7 @@ import { throwError } from './error'
 import './test-style.css'
 import testStyleInline from './test-style-inline.css?inline'
 import testStyleUrl from './test-style-url.css?url'
+import { DynamicImport } from './dynamic-import'
 
 // TODO: isolating finalizer doesn't rewrite yet
 // const testAssetTxt = new URL('./test-asset.txt', import.meta.url).href;
@@ -36,6 +37,7 @@ export function App() {
         <pre>
           [css?inline] <span className="test-style-inline">orange</span>
         </pre>
+        <DynamicImport />
       </div>
     </div>
   )
diff --git a/playground/rolldown-dev-react/src/dynamic-import-dep.ts b/playground/rolldown-dev-react/src/dynamic-import-dep.ts
new file mode 100644
index 00000000000000..ca3fb00232166e
--- /dev/null
+++ b/playground/rolldown-dev-react/src/dynamic-import-dep.ts
@@ -0,0 +1 @@
+export default '[ok]'
diff --git a/playground/rolldown-dev-react/src/dynamic-import.tsx b/playground/rolldown-dev-react/src/dynamic-import.tsx
new file mode 100644
index 00000000000000..ac046da3dd4321
--- /dev/null
+++ b/playground/rolldown-dev-react/src/dynamic-import.tsx
@@ -0,0 +1,19 @@
+import React from 'react'
+
+export function DynamicImport() {
+  const [value, setValue] = React.useState('???')
+
+  return (
+    <div className="test-dynamic-import">
+      <button
+        onClick={async () => {
+          const dep = await import('./dynamic-import-dep')
+          setValue(dep.default)
+        }}
+      >
+        dynamic-import
+      </button>{' '}
+      <span>{value}</span>
+    </div>
+  )
+}