Molecular Data Inc. and China's listed UCloud in collaboration to further drive digital transformation
Molecular Data has entered a cooperation agreement with UCloud Technology to enhance digital transformation in China's chemical industry. The partnership aims to integrate resources and develop industry-specific solutions, addressing current inadequacies through digitalization and blockchain technology. Senior executives from both companies participated in the signing ceremony, emphasizing the need for improved IT technology in traditional sectors. The collaboration focuses on upgrading operations across chemical, medical, and new materials industries by creating tailored services and value chains.
- Collaboration with UCloud aims to improve digital transformation in the chemical industry.
- Joint solutions will address inadequacies in industry IT capabilities.
- Focus on integrating blockchain technology for enhanced operations.
- Dependence on UCloud's technology could expose Molecular Data to risks if UCloud fails to deliver on promises.
SHANGHAI, March 26, 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 UCloud Technology Co., Ltd. ("UCloud", stock code: 688158), the first China listed company in cloud computing.
The two parties will integrate their respective high-quality resources and jointly launch industry solutions and service systems to help Digital and intelligent transformation; including upgrading of chemical, medical, new materials and other industries.
This move to address the inadequacies faced in the various industries will also include deploying Blockchain solutions accordingly.
Hua Kun, the co-founder and COO of UCloud, Jiang Jianbiao, the head of expansions cooperation of UCloud, and senior management from Molecular Data attended the signing ceremony.
UCloud is a neutral and secured cloud computing service platform. The company has an in-depth understanding of the business needs of traditional industries in different scenarios, and provides comprehensive industry solutions including public cloud, hybrid cloud, private cloud, and proprietary cloud.
Molecular Data's senior management introduced that driven by the new energy industry, new materials industry and the new economy, the chemical industry has entered a new stage of refinement, digitalization and diversification. However, the overall IT technology and digitization capabilities of the chemical industry remains weak.
Molecular Data hopes to work with UCloud; using leading companies in the chemical industry as a benchmark, where both parties will jointly create a full value chain and bring comprehensive solutions for the vertical segmentation of the chemical industry.
Hua Kun, co-founder and COO of UCloud, said: There is a lot of room for digitalization in the chemical industry. The chemical industry has high requirements including the security of IT architecture, and at the same time it must meet the requirements of simplicity, ease of use, and convenience in both operations and maintenance.
UCloud has the ability to provide chemical companies with cloud services and integrated software and hardware delivery solutions. UCloud will utilize Molecular Data's application services and data systems in the chemical industry to jointly provide products and solutions to help the digital transformation and upgrading of the chemical industry.
At present, the joint product team established by Molecular Data and UCloud has focused on the two key directions. Firstly in the digitalization of leading enterprises in the industry and secondly, the upgrading of the industry's cross-border transaction system.
SOURCE Molecular Data Inc.
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