SHANGHAI, March 5, 2021 /PRNewswire/ -- Molecular Data Inc. ("Molecular Data" or the "Company") (Nasdaq: MKD), a leading technology-driven platform in China's chemical industry, today announced that it has signed a cooperation agreement with Yili Industrial Group Co., Ltd. ("Yili Group"), China and the world's largest dairy company, making MKD Laboratory Supplies Mall the designated centralized procurement platform for Yili Group, its branches and subsidiaries.
MKD Lab Supplies Mall is a data-driven one-stop laboratory supplies e-commerce service platform operating under Molecular Data. Spot commodities in the mall cover all categories of chemical reagents, biological reagents, laboratory consumables, and equipment. It serves scientific research institutions, hospitals, university laboratories, third-party testing units and production plants, providing procurement services that include all categories of reagents and intermediates.
As China's largest dairy company, Yili Group's catalogue has the most comprehensive and wide-ranging product categories, alongside advanced and strong technological innovation and research and development capabilities.
The cooperation content covers 6 categories spanning 2,000 products, which include various types of chemical reagents, biochemical reagents, glassware, and consumables.
This collaboration will enable Yili Group to take advantage of Molecular Data's comprehensive resources to optimize its laboratory supplies, simplify internal processes and improve procurement efficiency. The Company will also provide Yili Group with the highest quality products and services with strict supplier access standards, efficient response speeds, and advanced digital systems, empowering Yili Group to better integrate resources, enhance product research and development, and in turn, propel innovation across the China's dairy industry.
About Molecular Data Inc.
Molecular Data Inc. is a leading technology-driven platform in China's chemical industry, connecting participants along the chemical value chain through integrated solutions. The Company delivers e-commerce solutions, financial solutions, warehousing and logistics solutions, and SaaS suite that are intended to solve pain points for participants in the traditional chemical industry. Built upon a comprehensive knowledge engine and artificial intelligence (AI) capabilities, the Company's e-commerce solutions are mainly offered through its online platform, consisting of molbase.com, molbase.cn, Moku Data WeChat account, Chemical Community APP and other ancillary platforms.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "confident," "potential," "continue" or other similar expressions. Among other things, the quotations from management in this announcement, as well as the Company's strategic and operational plans, contain forward-looking statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a variety of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company's goals and strategies; the Company's future business development, results of operations and financial condition; the expected growth of the chemical market; the Company's ability to monetize the user base; fluctuations in general economic and business conditions in China; the potential impact of the COVID-19 to the Company's business operations and the economy in China and elsewhere generally; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company's filings with the Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of the press release, and the Company undertakes no duty to update such information, except as required under applicable law.
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SOURCE Molecular Data Inc.