Mogu Inc Stock Price, News & Analysis

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MOGU Inc. (NYSE: MOGU) announced significant management changes effective April 19, 2023. Mr. Yibo Wei and Mr. Xuqiang Yue resigned as directors due to personal reasons. No disagreements with the Board were reported. Following this, Ms. Qi Feng and Mr. Yiming Fan were appointed as directors on April 21, 2023. Ms. Feng, who has been with the company since 2013, served as the financial controller and has extensive industry experience. Mr. Fan, the current CEO since 2014, previously held positions including brand director and marketing vice president. The Compensation Committee will consist of Mr. Andrew Hong Teoh and Ms. Feng, deviating from the NYSE's requirement for all independent members. These changes aim to strengthen the leadership as MOGU continues to enhance its KOL-driven online fashion platform.

MOGU Inc. has announced the resignation of CEO Qi Chen effective March 17, 2023, citing personal reasons. Mr. Chen will remain as chairman and confirmed no disagreements with the Board. Replacing him, Yiming Fan, a long-time company executive, will take over as CEO on the same date. Fan brings extensive experience, having held various leadership positions within MOGU since 2014 and has been integral to its marketing and branding efforts. The Board believes Fan’s leadership will support MOGU's mission in the competitive online fashion space in China.

MOGU Inc. (NYSE: MOGU) reported its financial results for the six months ending September 30, 2022, showing a 32.2% decrease in total revenues to RMB114.8 million (US$16.1 million) compared to the previous year. The company faced challenges due to COVID-19 and competition, resulting in a 48.1% decline in Gross Merchandise Value to RMB2,828 million (US$397.6 million). Loss from operations was RMB48.1 million, significantly improving from the previous year's RMB430.1 million. Adjusted EBITDA also improved, recording a loss of RMB17.1 million compared to RMB72.7 million last year. Cash and equivalents stood at RMB604.8 million.

MOGU Inc. (NYSE: MOGU) has announced a new share repurchase program allowing the company to buy back up to US$10 million of its shares until August 31, 2023. This initiative aims to enhance shareholder value and reflects the company's confidence in its financial position. The repurchases will be funded using existing cash and can occur through various means depending on market conditions. The company plans to periodically review the program and may adjust its terms and size as necessary.

MOGU Inc. (NYSE: MOGU) has filed its annual report on Form 20-F for the fiscal year ending March 31, 2022, with the SEC. The report can be accessed on MOGU's investor relations website. The company offers a KOL-driven online fashion and lifestyle platform in China, enhancing the shopping experience by connecting merchants, KOLs, and consumers. MOGU also provides free hard copies of the annual report to shareholders upon request.

MOGU Inc. (NYSE: MOGU) reported its financial results for the six months ending March 31, 2022, revealing significant challenges in the Live eCommerce industry, resulting in a 31.4% decrease in Gross Merchandise Value (GMV) to RMB5,225 million (US$824.2 million), and a 29.2% drop in revenue to RMB168 million (US$26.5 million). Operational losses increased to RMB240.3 million (US$37.9 million), while net losses rose to RMB227.9 million (US$35.9 million). Despite these setbacks, MOGU aims to enhance its operational efficiency and explore new business opportunities for fiscal year 2023.

MOGU Inc. (NYSE: MOGU) will announce its unaudited financial results for the second half of fiscal year 2022, ending March 31, 2022, after U.S. markets close on June 8, 2022. MOGU is recognized as a leading KOL-driven online fashion and lifestyle platform in China, connecting merchants and KOLs with users for an enhanced shopping experience.

MOGU Inc. (NYSE: MOGU) reported financial results for the six months ending September 30, 2021, showing a 30.8% revenue decline to RMB169.5 million (US$26.3 million) and a 12.5% decrease in Gross Merchandise Value (GMV) to RMB5,454 million (US$846.4 million). Despite challenges from increased competition in the Live eCommerce industry, MOGU plans to optimize product offerings and focus on high-margin products. The company incurred a net loss of RMB411.9 million (US$63.9 million), compared to RMB182.6 million in the previous year. The acquisition of Hangzhou Ruisha is expected to enhance MOGU's capabilities.