The chaincode container fails to connect to the peer container

Question

I spin up a single-orderer-single-peer fabric instance in docker mode. The docker-compose file is like:

version: '2.1'

networks:
  fabricsharp:
    name: fabricsharp

services:
  orderer.example.com:
    container_name: orderer.example.com
    image: hyperledger/fabric-orderer:2.2.0
    environment:
      - ORDERER_GENERAL_LISTENADDRESS=0.0.0.0
      - ORDERER_GENERAL_GENESISMETHOD=file
      - ORDERER_GENERAL_GENESISFILE=/etc/hyperledger/configtx/genesis.block
      - ORDERER_GENERAL_LOCALMSPID=OrdererMSP
      - ORDERER_GENERAL_LOCALMSPDIR=/etc/hyperledger/msp/orderer/msp
      - ORDERER_GENERAL_TLS_ENABLED=true
      - ORDERER_GENERAL_TLS_CLIENTAUTHREQUIRED=false
      - ORDERER_GENERAL_TLS_PRIVATEKEY=/etc/hyperledger/msp/orderer/tls/server.key
      - ORDERER_GENERAL_TLS_CERTIFICATE=/etc/hyperledger/msp/orderer/tls/server.crt
      - ORDERER_GENERAL_TLS_ROOTCAS=[/etc/hyperledger/msp/orderer/tls/ca.crt, /etc/hyperledger/msp/peerOrg1/tls/ca.crt]
      - ORDERER_GENERAL_CLUSTER_CLIENTPRIVATEKEY=/etc/hyperledger/msp/orderer/tls/server.key
      - ORDERER_GENERAL_CLUSTER_CLIENTCERTIFICATE=/etc/hyperledger/msp/orderer/tls/server.crt 
      - ORDERER_GENERAL_CLUSTER_ROOTCAS=[/etc/hyperledger/msp/orderer/tls/ca.crt]
      - MV_STORE_PATH=/var/hyperledger/mv_store
      - TXN_SPAN_LIMIT=${TXN_SPAN_LIMIT:-10}
      - BLOCK_SIZE=${BLOCK_SIZE?err}  
      - CC_TYPE=${CC_TYPE?err} 

    working_dir: /opt/gopath/src/github.com/hyperledger/fabric
    command: orderer
    ports:
      - 7050:7050
    volumes:
        - ./channel_artifacts/:/etc/hyperledger/configtx
        - ./crypto_config/ordererOrganizations/example.com/orderers/orderer.example.com/:/etc/hyperledger/msp/orderer
        - ./crypto_config/peerOrganizations/org1.example.com/peers/peer0.org1.example.com/:/etc/hyperledger/msp/peerOrg1
        # - ./${LOG_DIR?err}:/etc/log
    networks:
      - fabricsharp
        

  peer0.org1.example.com:
    container_name: peer0.org1.example.com
    image: hyperledger/fabric-peer:2.2.0
    environment:
      - FABRIC_LOGGING_SPEC=debug
      # - FABRIC_LOGGING_SPEC=info
      - CORE_CHAINCODE_LOGGING_LEVEL=debug
      - CORE_PEER_ENDORSER_ENABLED=true
      - CORE_CHAINCODE_BUILDER=hyperledger/fabric-ccenv:1.4.2
      - CORE_PEER_GOSSIP_USELEADERELECTION=true
      - CORE_VM_ENDPOINT=unix:///host/var/run/docker.sock
      - CORE_VM_DOCKER_HOSTCONFIG_NETWORKMODE=fabricsharp
      - CORE_PEER_GOSSIP_ORGLEADER=false 
      - CORE_PEER_ID=peer0.org1.example.com
      - CORE_PEER_ADDRESS=peer0.org1.example.com:7051
      - CORE_PEER_GOSSIP_EXTERNALENDPOINT=peer0.org1.example.com:7051
      - CORE_PEER_LOCALMSPID=Org1MSP
      - CORE_PEER_MSPCONFIGPATH=/etc/hyperledger/msp/peer/msp/
      - CORE_PEER_TLS_ENABLED=true
      - CORE_PEER_TLS_CLIENTAUTHREQUIRED=false
      - CORE_PEER_TLS_KEY_FILE=/etc/hyperledger/msp/peer/tls/server.key
      - CORE_PEER_TLS_CERT_FILE=/etc/hyperledger/msp/peer/tls/server.crt
      - CORE_PEER_TLS_ROOTCERT_FILE=/etc/hyperledger/msp/peer/tls/ca.crt
      - MV_STORE_PATH=/var/hyperledger/mv_store
      - TXN_SPAN_LIMIT=${TXN_SPAN_LIMIT:-10}
      - BLOCK_SIZE=${BLOCK_SIZE?err}  
      - CC_TYPES=${CC_TYPE?err} 
      - CORE_LEDGER_STATE_STATEDATABASE=${DB_TYPE:-goleveldb}

    working_dir: /opt/gopath/src/github.com/hyperledger/fabric
    command: peer node start
    ports:
      - 7051:7051
      - 7052:7052
      - 7053:7053
    volumes:
        - /var/run/:/host/var/run/
        - ./crypto_config/peerOrganizations/org1.example.com/peers/peer0.org1.example.com/:/etc/hyperledger/msp/peer
        # - ./${LOG_DIR?err}:/etc/log
        # - channel_artifacts/channel.tx:/etc/hyperledger/configtx/mychannel.tx
        # - crypto_config/ordererOrganizations/example.com/orderers/orderer.example.com/:/etc/hyperledger/msp/orderer
        # - crypto_config/peerOrganizations/org1.example.com/users/:/etc/hyperledger/msp/users
    depends_on:
      - orderer.example.com
    networks:
      - fabricsharp

However, the contract instantiation fails. The peer logs

[31m2022-02-28 05:26:36.491 UTC [endorser] SimulateProposal -> ERRO 281[0m failed to invoke chaincode lscc, error: container exited with 0

The chaincode container logs

Error starting chaincode: connection error: desc = "transport: error while dialing: dial tcp: lookup peer0.org1.example.com: no such host" 

My system and dependency's versions:

$ lsb_release -a
No LSB modules are available.
Distributor ID: Ubuntu
Description:    Ubuntu 20.04.3 LTS
Release:    20.04
Codename:   focal

$ docker --version
Docker version 20.10.12, build e91ed57

$ docker-compose --version
docker-compose version 1.27.3, build 4092ae5d

BUT STRANGE ENOUGH, our docker-mode Fabric works on less up-to-date system dependencies, which is

$ lsb_release -a
No LSB modules are available.
Distributor ID: Ubuntu
Description:    Ubuntu 18.04.5 LTS
Release:    18.04
Codename:   bionic

$ docker --version
Docker version 18.06.3-ce, build d7080c1

$ docker-compose --version
docker-compose version 1.24.1, build 4667896b

I guess there are some issues on the chaincode container domain name resolution. By right, from the doc, the docker-compose sets up a network with bridge driver. And Each container for a service joins the default network and is both reachable by other containers on that network, and discoverable by them at a hostname identical to the container name.

However, the above does not hold with the new docker version, but works with the more outdated version. Any ideas from friends?