SHANGHAI, June 24,
2022 /PRNewswire/ -- Molecular Data, Inc.
("Molecular Data" or the "Company") (NASDAQ: MKD), a
technology-driven platform in China, announced that it had received a letter
from The Nasdaq Stock Market LLC ("Nasdaq"), notifying the Company
that to date, it has not regained compliance with the Rule
5250(c)(1).
Since the Company is already before a Hearings Panel for its
failure to comply with the $1.00
minimum bid price requirement set forth in Listing Rule
5550(a)(2),pursuant to Listing Rule 5810(d)(2), rather than submit
a compliance plan for Staff's review, the Company is to address the
matter before the Hearings Panel.
About Molecular Data, Inc.
Molecular Data Inc. is a 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.
Forward-Looking Statements
This announcement contains forward-looking statements within the
meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. All statements other than statements
of historical fact in this announcement are forward-looking
statements, including the potential impact of COVID-19 on our
business within and outside of China. These forward-looking statements
involve known and unknown risks and uncertainties and are based on
current expectations and projections about future events and
financial trends that the Company believes may affect its financial
condition, results of operations, business strategy and financial
needs. Investors can identify these forward-looking statements by
words or phrases such as "may," "will," "expect," "anticipate,"
"aim," "estimate," "intend," "plan," "believe," "potential,"
"continue," "is/are likely to" or other similar expressions. The
Company undertakes no obligation to update forward-looking
statements to reflect subsequent occurring events or circumstances,
or changes in its expectations, except as may be required by law.
Although the Company believes that the expectations expressed in
these forward-looking statements are reasonable, it cannot assure
you that such expectations will turn out to be correct, and the
Company cautions investors that actual results may differ
materially from the anticipated results.
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SOURCE Molecular Data Inc.