MKD - MKD STOCK NEWS

Molecular Data Inc. (Nasdaq: MKD) announced a cooperation agreement with Anhui Shilian Special Solvent Co., Ltd., China's largest manufacturer of high-purity specialty solvents. This partnership aims to enhance product offerings and services by leveraging Anhui Shilian's advanced production technology. Molecular Data will establish an Internet sales channel and digital management system, optimizing the supply chain and increasing market competitiveness for Anhui Shilian. The collaboration seeks to diversify services in the high-purity solvent industry and facilitate digital upgrades.

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.

Molecular Data Inc. (Nasdaq: MKD) announced a memorandum of understanding (MOU) for a potential investment in a well-established U.S. brand with over 20 years of expertise. This partnership aims to leverage synergies and enhance Molecular Data's presence in the American market. The company specializes in e-commerce and integrated solutions in China's chemical sector, utilizing advanced AI capabilities to connect stakeholders. This collaboration reflects a strategic step towards expanding its influence internationally.

Molecular Data Inc. (Nasdaq: MKD) has signed a cooperation agreement with Yili Industrial Group, the world's largest dairy company. This partnership designates the MKD Laboratory Supplies Mall as Yili Group's centralized procurement platform for laboratory supplies, covering 2,000 products across six categories. The collaboration aims to enhance procurement efficiency, optimize laboratory supplies, and drive innovation in China’s dairy sector, leveraging Molecular Data's digital systems and high-quality products.

Molecular Data Inc. (Nasdaq: MKD) has appointed Steven Foo as the new chief financial officer, effective December 1, 2020. He replaces Zhaohong Li, who resigned for personal reasons. The company appreciates Li's contributions, notably in its IPO and developing a finance team. Foo brings over 24 years of experience in investment, financing, and financial management, along with expertise in strategy and capital markets. Molecular Data operates in China's chemical industry, offering e-commerce, financial, and logistics solutions through its integrated platforms.

Molecular Data Inc. (Nasdaq: MKD) has appointed Marcum Bernstein & Pinchuk LLP as its new independent registered public accounting firm, effective October 23, 2020. This decision follows Ernst & Young Hua Ming LLP's non-re-election, which was approved by the audit committee and board of directors, and occurred without any disagreements on accounting matters. Notably, E&Y’s reports from 2016 to 2019 contained no adverse opinions. The Company specializes in technology-driven solutions within China’s chemical industry, offering e-commerce and SaaS solutions through multiple platforms.

Molecular Data Inc. (NASDAQ: MKD), a leading technology platform in China's chemical industry, has announced a definitive agreement to issue up to $5.0 million in convertible debentures to YA II PN, Ltd. The issuance will occur in three installments, with the first $3.0 million upon signing the agreement. The debentures feature a 5% annual interest rate and will mature in one year unless converted earlier. The initial conversion price for the debentures is set at $1.30 per American depositary share (ADS) or 88% of the market price, allowing the Purchaser to convert at their discretion.

Molecular Data Inc. (Nasdaq: MKD) recently celebrated the 100th day of its subsidiary, ZEMolbase, in Zhengzhou, China. Founded in partnership with ZTE Corporation, ZEMolbase aims to enhance digitalization in the chemical industry. At the ceremony, they launched Lingshi 1.0, a management tool for the chemical product lifecycle, including features for industrial IoT and compliance. The company's mission aligns with the ongoing modernization and support for the chemical sector under favorable government initiatives as stated by Chairman Dr. Dongliang Chang.

Molecular Data has completed the distribution of ordinary shares held by MOLBASE to its shareholders, effective June 30, 2020. This Share Distribution follows the plan disclosed in its Form F-1 registration statement on December 27, 2019. Before the distribution, MOLBASE owned approximately 89.9% of Molecular Data's total shares. Post-distribution, Dr. Dongliang Chang holds 15.9% of the total shares and controls 65.3% of the voting power. The ownership structure has significantly changed, affecting voting dynamics and shareholder composition.