GlobeNewswire Inc | Oct 12, 2020 06:30AM EDT

October 12, 2020

SHANGHAI, China, Oct. 12, 2020 (GLOBE NEWSWIRE) -- Molecular Data Inc. (Molecular Data or the Company) (Nasdaq: MKD), a leading technology-driven platform in Chinas chemical industry, hosted a celebration ceremony in Zhengzhou, Henan province on October 10, 2020, to mark the 100th day since the inception of the Companys subsidiary, Henan ZEMolbase Data Service Co., Ltd. (ZEMolbase).

Leveraging ZTE Corporations 5G telecommunication technology and Molecular Datas extensive industry expertise in the chemical industry, ZEMolbase was founded jointly by the two companies with a goal to provide comprehensive services and one-stop solutions to customers and stakeholders along the entire chemical value chain and support the digitalization of traditional chemical industry.

The Industrial Internet is an important cornerstone of the 4th Industrial Revolution and 5G is the key driver for the digitalization of industrial society. ZEMolbase was formed to ride on the trends of rapid development of Internet of Things and imminence of the 5G era, said Dr. Dongliang Chang, Founder of the Company and Chairman of the Board. In addition, benefitted by a series of recent encouraging government policies, we are looking forward to supporting the revolution of the chemical industry.

During the ceremony, ZEMolbase unveiled its new product, Lingshi 1.0, a comprehensive solution designed to satisfy customers diverse needs in chemical products management, operations and monitoring. This product was developed following in-depth study and close cooperation with several leading scientific institutions and telecommunication companies including Chinese Academy of Sciences, Henan Institute of Emergency Management Science and Technology, and China Mobile Limited, etc.

As a management tool targeting the full lifecycle of chemical products, Lingshi1.0 provides technological support to customers including suppliers and purchasers, industrial park managers, as well as industrial supervisors, covering operational areas of production, sales, logistics and warehousing, in full concert with relevant regulatory requirements of the chemical industry. In addition, Lingshi 1.0 includes broad-based functionalities, features and modules designed to help with industry-specific operations. These include platforms for the following: industrial IoT, industrial park management, chemicals trading and hazardous chemicals logistics supervision. Additional service features include supply chain services, chemical standardization traceability, storage and transmission supervision and industrial internet construction.

About Molecular Data Inc.

Molecular Data Inc. is a leading technology-driven platform in Chinas 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 Companys 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 Companys 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 Companys 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 Companys goals and strategies; the Companys future business development, results of operations and financial condition; the expected growth of the education market; the Companys ability to monetize the user base; fluctuations in general economic and business conditions in China; the potential impact of the COVID-19 to the Companys 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 Companys 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 MaTel: +86-21-5419-9075E-mail: Investor@molbase.com

The Piacente Group, Inc.Emilie WuTel: +86-21-6039-8363E-mail: molbase@tpg-ir.com

In the United States:

The Piacente Group, Inc. Brandi PiacenteTel: +1-212-481-2050E-mail: molbase@tpg-ir.com

Source: Molecular Data Inc.