Molecular Data Inc. Enters Supply Framework Agreement with Anhui Gujing Distillery Co., Ltd.
Molecular Data Inc. (Nasdaq: MKD) has announced a supply framework agreement with Anhui Gujing Distillery Co., Ltd., enhancing its position in China's food and beverage sector. This partnership will supply nearly 2 million stock-keeping units (SKUs) of chemical and biological reagents, laboratory consumables, and related equipment, sourced from 21 top domestic and international suppliers. The collaboration aims to support Gujing's renowned liquor brands and advance digitalization within traditional industries, optimizing supply chain services to reduce costs and boost efficiency.
- Entering a significant supply framework agreement with Anhui Gujing Distillery, a leader in China's liquor market.
- Will supply nearly 2 million SKUs from 21 reputable suppliers, expanding product offerings.
- Positioning to enhance digitalization and efficiency in traditional industries.
- None.
SHANGHAI, March 9, 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 entered into a supply framework agreement with Anhui Gujing Distillery Co., Ltd. ("Gujing"), one of the most important core enterprises in China's liquor market, as part of its efforts to expand presence in the food and beverage industry.
Under the agreement, Molecular Data will become a key supplier for Gujing and its affiliated companies, including Anhui Runan Xinke Testing Technology Co., Ltd. ("Runan Xinke") and Anhui Ruisi Weier Technology Co., Ltd. ("Ruisi Weier"), in the fields of chemical reagents, biological reagents, laboratory consumables, as well as related instruments and equipment. Molecular Data will source nearly 2 million stock-keeping units (SKUs) that Gujing requires from its 21 well-known domestic and foreign laboratory brands and suppliers.
Molecular Data's MKD Lab Supplies Mall is a data-driven one-stop laboratory supplies e-commerce service platform, which covers all categories of chemical reagents, biological reagents, laboratory consumables, and equipment. The mall 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.
With a history of more than 1,800 years, Gujing Gongjiu is one of the eight most prestigious liquor brands in China, and has won the gold medal in the national spirits appraisal four times consecutively. Gujing's research capabilities in liquor are also industry leading. In accordance with the national standards of top laboratories, Gujing has established research and development centers, national post-doctoral research workstations, academic workstations, national food enterprise quality and safety testing technology demonstration centers and other scientific research platforms.
Both affiliates of Gujing, Runan Xinke is a state-owned third-party testing institution that provides one-stop testing services from inspection to testing and technical services with various national certification; while Ruisi Weier has been striving for technology development related to biological fermentation engineering.
The collaboration with Gujing is another milestone for Molecular Data to propel digitalization of the traditional industries and empower intelligent manufacturing in China. Molecular Data will continue to optimize supply chain services and upgrade the digital products, helping enterprises both from China and abroad to reduce costs and increase efficiency to spur the development of the 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.
For investor and media inquiries, please contact:
In China:
Molecular Data Inc.
Eva Ma
Tel: +86-21-5419-9057
E-mail: investor@molbase.com
The Piacente Group, Inc.
Emilie Wu
Tel: +86-21-6039-8363
E-mail: molbase@tpg-ir.com
In the United States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: molbase@tpg-ir.com
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SOURCE Molecular Data Inc.
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