Delisting Determination, The Nasdaq Stock Market, LLC, October 27, 2022,
Molecular Data Inc.
The Nasdaq Stock Market LLC (the Exchange) has determined to remove
from listing the American Depositary Shares of Molecular Data Inc.,
effective at the opening of the trading session on November 7, 2022.
Based on review of information provided by the Company, Exchange Staff
determined that the Company no longer qualified for listing on the
Exchange pursuant to Listing Rule 5550(a)(2).
The Company was notified of the Staff determination on May 24, 2022.
The Company appealed the determination to a Hearings Panel (Panel)
on May 31, 2022. On June 17, 2022, Exchange Staff issued a new delist
determination for the Company failure to meet the requirements in
Listing Rule 5250(c)(1). The Company appeared before the Panel on June
30, 2022.  On July 8, 2022, the Panel granted the Company request to
remain listed subject to certain conditions. On September 2, 2022, the
Panel issued a delist decision based on the Company failure to comply
with the terms of the exception granted by the Panel and notified the
Company that trading in its securities would be suspended on September
7, 2022. The Company did not appeal the Panel decision to the Nasdaq
Listing and Hearing Review Council (Council) and the Council did not
call the matter for review. The Staff determination to delist the Company
common stock became final on October 17, 2022.