Molecular Data Inc. ADR (MKDTY)

[Eurotradr]

MKD sets its eyes on supercomputing in North America
8:29 AM ET 12/14/21 | Dow Jones

SHANGHAI, Dec. 14, 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 the Company has entered an agreement to form a Joint Venture to build supercomputing clusters in North America. The new Joint Venture plans to construct two plants in the USA and start operating on one plant in the next two months in the initial phase. The Company expects to add 13MW in the initial phase. The new business line is expected to generate approximately US$5 million in revenue and US$4 million in gross profit.

The Company has made a strategic decision to develop blockchain technologies to add on to its chemical platform infrastructure given the rising needs for Digital factories and Smart manufacturing. This is a critical migration into Industrial Metaverse from Industrial Internet. Industrial Metaverse can solve the pain points of enterprises and aid in their digital transformation."

Dr. Dongliang Chang, Chairman of Board of Directors of Molecular Data said,"Based on its technical characteristics, blockchain elements are building blocks for application scenarios of the Industrial Metaverse. Therefore, we will continue to develop our blockchain capabilities to further enhance our competitiveness in the chemical platform and related businesses."