MOGU on NYSE

MOGU Inc.

MOGU Inc. is a business services company in the Cayman Islands, listed on NYSE (MOGU).1

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Last updated Oct 20, 2026.

Overview

$18.2MRevenue, fiscal 20262
$266.0KNet income, fiscal 20262

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  • TickerMOGU on NYSE1
  • IndustryServices-Business Services, NEC1
  • HeadquartersE91
  • Incorporated inCayman Islands3
  • Business addressMingqi Center, 8/F, Building No. 1, No. 666 Zhenhua Road, Xihu District, Hangzhou3
  • Filer categoryNon-accelerated filer3

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We launched our online fashion platform under the Mogujie brand in February 2011. Our holding company, MOGU Holdings Limited, was incorporated in the Cayman Islands in June 2011. MOGU Holdings Limited was subsequently renamed Meili Inc. in June 2016. In November 2018, we renamed our company as MOGU Inc.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2026

-57.6%Operating margin2
1.5%Net margin2
-6.6%Revenue growth, 20262
0.4%Return on equity2
-$7.5MFree cash flow2

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Commissions brought in 52% of the revenue MOGU Inc. broke down this way in fiscal 2026.

  1. Commissions65.8M CNY252%down 12% from 2025
  2. Technology Services Revenues26.9M CNY221%down 47% from 2025
  3. Other Revenues25.8M CNY221%up 248% from 2025
  4. Financing Solutions6.8M CNY25%down 14% from 2025
Products and services by year
Products and services202420252026
Commissions109.7M CNY74.7M CNY65.8M CNY
Technology Services Revenues33.3M CNY51.2M CNY26.9M CNY
Other Revenues7.0M CNY7.4M CNY25.8M CNY
Financing Solutions10.3M CNY7.9M CNY6.8M CNY

Where the money goes

Where each dollar of revenue went, fiscal 2026

  • Cost of revenue71¢$13.0M
  • Research and development23¢$4.2M
  • Interest0¢$2.0K
  • Income tax5¢$889.0K
  • Profit1¢$266.0K

Out of $18.2M in revenue.2

Financial statements

Revenue5678910112$18.2M in 2026−89% since 2019
0$50.0M$100.0M$150.0M$200.0M2019: $160.1M$160.1M20192020: $118.0M$118.0M2020−26%2021: $73.6M$73.6M2021−38%2022: $53.2M$53.2M2022−28%2023: $33.8M$33.8M2023−37%2024: $22.2M$22.2M2024−34%2025: $19.5M$19.5M2025−12%2026: $18.2M$18.2M2026−7%
Operating income5678910112-$10.5M in 2026−88% since 2019
-$300.0M-$200.0M-$100.0M02019: -$85.6M-$85.6M20192020: -$292.7M-$292.7M2020+242%2021: -$65.5M-$65.5M2021−78%2022: -$105.8M-$105.8M2022+62%2023: -$27.3M-$27.3M2023−74%2024: -$11.0M-$11.0M2024−60%2025: -$13.9M-$13.9M2025+27%2026: -$10.5M-$10.5M2026−25%
Net income5678910112$266.0K in 2026
-$400.0M-$300.0M-$200.0M-$100.0M0$100.0M2019: -$72.5M-$72.5M20192020: -$314.0M-$314.0M2020+333%2021: -$50.1M-$50.1M2021−84%2022: -$100.9M-$100.9M2022+102%2023: -$25.9M-$25.9M2023−74%2024: -$8.2M-$8.2M2024−68%2025: -$8.6M-$8.6M2025+5%2026: $266.0K$266.0K2026

Every line of the income statement as filed: the last 3 fiscal years, latest first.2

Period ending2026-03-312025-03-312024-03-31
Revenues125.4M CNY141.2M CNY160.3M CNY
Cost of revenues (exclusive of amortization of intangible assets shown separately below, including transactions with related parties of RMB18,155, RMB14,373 and RMB14,917 for the years ended March 31, 2024, 2025 and 2026, respectively)-89.6M CNY-84.8M CNY-91.2M CNY
Sales and marketing expenses-37.6M CNY-58.0M CNY-67.4M CNY
Research and development expenses-28.8M CNY-30.0M CNY-26.7M CNY
General and administrative expenses-49.4M CNY-56.7M CNY-55.1M CNY
Amortization of intangible assets-176.0K CNY-156.0K CNY-1.9M CNY
Impairment of long-lived assets0 CNY-18.0M CNY-9.9M CNY
Other income, net7.8M CNY5.1M CNY12.8M CNY
Loss from operations-72.2M CNY-101.1M CNY-79.2M CNY
Interest income2.3M CNY5.9M CNY12.7M CNY
Interest expense-11.0K CNY-1.0K CNY-191.0K CNY
Gain from investments, net42.3M CNY38.0M CNY953.0K CNY
Fair value changes of crypto assets-3.8M CNY0 CNY0 CNY
Gain on deconsolidation of a subsidiary36.9M CNY0 CNY0 CNY
(Loss)/income before income tax and share of results of equity method investees5.4M CNY-57.2M CNY-65.7M CNY
Income tax benefits/(expenses)-6.1M CNY-839.0K CNY1.6M CNY
Share of results of equity method investees3.9M CNY-2.5M CNY-2.9M CNY
Net (loss)/income3.2M CNY-60.6M CNY-67.0M CNY
Net (loss)/gain attributable to non-controlling interests1.4M CNY2.0M CNY-7.7M CNY
Net (loss)/income attributable to MOGU Inc.1.8M CNY-62.6M CNY-59.3M CNY
Foreign currency translation adjustments, net of nil tax-2.7M CNY526.0K CNY3.7M CNY
Unrealized securities holding gains/(losses), net of tax0 CNY-17.4M CNY3.5M CNY
Total comprehensive (loss)/income525.0K CNY-77.5M CNY-59.8M CNY
Total comprehensive (loss)/income attributable to non-controlling interests1.4M CNY2.0M CNY-7.7M CNY
Total comprehensive loss attributable to MOGU Inc.-854.0K CNY-79.5M CNY-52.1M CNY
Basic0.00 CNY-0.02 CNY-0.02 CNY
Diluted0.00 CNY-0.02 CNY-0.02 CNY
Basic2.5B shares2.6B shares2.6B shares
Diluted2.6B shares2.6B shares2.6B shares
Cost of revenue, related party14.9M CNY14.4M CNY18.2M CNY
Foreign currency translation adjustments, tax0 CNY0 CNY0 CNY

Compare MOGU Inc. with another company

Corporate structure

MOGU Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of MOGU Inc.

  • TB Alternative Assets Ltd. Filed SCHEDULE 13G on MOGU Inc., latest Feb 10, 2025 (5 filings since Feb 11, 2022)
  • HHLR ADVISORS, LTD. Filed SC 13G/A on MOGU Inc., latest Feb 14, 2024 (2 filings since Feb 14, 2023)
  • QIMING VENTURE PARTNERS III, L.P. Filed SC 13G/A on MOGU Inc., latest Feb 8, 2024 (3 filings since Feb 14, 2022)
  • Tencent Holdings Ltd Filed SC 13G/A on MOGU Inc., latest Feb 1, 2024
  • Exceed Intelligence Ltd Filed SC 13G on MOGU Inc., latest Jan 23, 2024 (2 filings since Mar 9, 2023)
  • Qi Chen Filed SC 13D on MOGU Inc., latest Jan 23, 2024 (2 filings since Feb 14, 2023)
  • MOGU Inc. E9

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What MOGU Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation336.8M CNY2 Mar 31, 2026333.2M CNY2 Mar 31, 2025+1.1%
Accumulated depreciation44.9M CNY2 Mar 31, 202634.0M CNY2 Mar 31, 2025+32.2%
Property and equipment, net$39.7M2 Mar 31, 2026$38.8M11 Mar 31, 2025+2.5%
Operating-lease assets (leased space)$153.0K2 Mar 31, 2026$130.0K11 Mar 31, 2025+17.7%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$19.4M2 Mar 31, 2026$11.3M11 Mar 31, 2025+71.4%
Marketable securities, current$23.4M2 Mar 31, 2026$41.0M11 Mar 31, 2025−42.9%
Marketable securities, non-current5.6M CNY2 Mar 31, 20267.8M CNY2 Mar 31, 2025−28.2%
Debt securities held to maturity0 CNY2 Mar 31, 20267.3M CNY2 Mar 31, 2025−100.0%
Stakes in other companies (equity method)59.4M CNY2 Mar 31, 202642.2M CNY2 Mar 31, 2025+40.8%
Long-term investments$23.9M2 Mar 31, 2026$6.9M11 Mar 31, 2025+247.4%

Intangibles and goodwill

ItemLatestA year beforeChange
Finite-lived intangibles, gross103.5M CNY2 Mar 31, 2026153.3M CNY2 Mar 31, 2025−32.5%
Accumulated amortization53.3M CNY2 Mar 31, 202671.7M CNY2 Mar 31, 2025−25.7%
Finite-lived intangibles, net$78.0K2 Mar 31, 2026$99.0K11 Mar 31, 2025−21.2%

Inventory

ItemLatestA year beforeChange
Inventory, total$7.0K2 Mar 31, 2026$2.0K11 Mar 31, 2025+250.0%

Leadership

Who has led MOGU Inc., and when. Pick a name to see everywhere that person has worked.

Board members and other officers (4)

Former names

  • Meili Inc.Aug 1, 2018 to Oct 26, 20183

Filings

62 filings to the SEC since October 2021: 5 annual reports, 9 insider forms, 15 large holders, 33 other. The latest 20:

  1. Jul 24, 202620-F EDGAR
  2. Jul 17, 20264 EDGAR
  3. Jul 13, 20264 EDGAR
  4. Jul 6, 20264 EDGAR
  5. Jul 1, 20264 EDGAR
  6. Jun 22, 20266-K EDGAR
  7. Mar 25, 20263 EDGAR
  8. Mar 25, 20263 EDGAR
  9. Mar 24, 20263 EDGAR
  10. Mar 17, 20263 EDGAR
  11. Mar 16, 20263 EDGAR
  12. Jan 29, 20266-K EDGAR
  13. Dec 29, 20256-K EDGAR
  14. Nov 13, 20256-K EDGAR
  15. Sep 11, 20256-K EDGAR
  16. Jul 31, 202520-F EDGAR
  17. Jul 21, 20256-K EDGAR
  18. Feb 10, 2025SCHEDULE 13G EDGAR
  19. Nov 22, 20246-K EDGAR
  20. Jul 19, 202420-F EDGAR

The 62 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

4 open-market trades by officers, directors and large owners since October 2021: 4 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jul 13, 2026Chen QiDirectorBuy7,281$1.99$14.5KForm 4
Jul 9, 2026Chen QiDirectorBuy1,300$1.99$2.6KForm 4
Jul 1, 2026Chen QiDirectorBuy6,419$1.97$12.6KForm 4
Jun 30, 2026Chen QiDirectorBuy15,000$1.68$25.2KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Hhlr Advisors, Ltd.847,510$1.4M0.2%No change
TB Alternative Assets Ltd.684,136$1.1M0.2%−4,964
Renaissance Technologies LLC11,857$19.8K0.0%−1,132
UBS Group AG215$3590.0%New
SBI Securities Co., Ltd.84$1400.0%No change
Morgan Stanley1$20.0%No change

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How MOGU Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARMOGU Inc.1
  • CIK0001743971
  • Filer statusNon-accelerated filer not an emerging growth company; not a shell company4
  • Incorporated inE94
  • Fiscal year endsMarch 311
  • Industry code (SIC)7389 Services-Business Services, NEC1
  • SEC reviewing officeOffice of Trade & Services, Division of Corporation Finance1
  • Business addressMingqi Center, 8/F, Building No. 1, No. 666 Zhenhua Road, Xihu District, Hangzhou, Hangzhou, China1
  • Phone86571888675501
  • Shares outstanding2,151,753,900 Common Class A shares; 303,234,004 Common Class B shares as of Mar 31, 20264
  • AuditorMarcum Asia CPAs LLP, Beijing PCAOB ID 5395; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceAug 1, 20181
  • Filings135 in all: 6-K (40), SC 13G/A (16), SC 13G (15), CORRESP (12), UPLOAD (11), 20-F (8), 3 (5), 4 (4)1
    All 23 form types

    DRSLTR (4), DRS/A (3), F-1/A (3), S-8 (3), 20-F/A (1), 424B4 (1), 8-A12B (1), CERT (1), CT ORDER (1), DRS (1), EFFECT (1), F-1 (1), FWP (1), SC 13D (1), SCHEDULE 13G (1)

  • Latest filingsAnnual report (20-F) Jul 24, 2026

Securities registered for trading

ClassSymbolExchange
American depositary shares (one American depositary share representing 300 Class A ordinary shares, par value US$0.00001 per share)MOGUThe New York Stock Exchange
Class A ordinary shares, par value

From the cover page of the 20-F filed Jul 24, 2026 (Section 12(b) of the Exchange Act).4

Sources

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