MOGU Inc 6-K, filed Jan 29, 2026

MOGU Inc. (MOGU)

6-K 2026-01-29 For: 2025-09-30

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Added on April 09, 2026

About this 6-K

MOGU Inc filed this 6-K on January 29, 2026.

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MOGU Inc.

By:	/s/ Qi Chen
Name:	Qi Chen
Title:	Chairman


	As of March 31,			September 30,
	2025			2025
	RMB			RMB			US$
ASSETS
Current assets:
Cash and cash equivalents		82,021			133,702			18,781
Restricted cash		511			511			72
Short-term investments		297,571			291,280			40,916
Inventories		11			59			8
Loan receivables, net		31,108			27,939			3,925
Prepayments, receivables and other current assets		59,208			13,221			1,857
Amounts due from related parties		15,131			14,625			2,054
Total current assets		485,561			481,337			67,613
Non-current assets:
Property and equipment, net		281,277			276,976			38,907
Intangible assets, net		718			628			88
Digital assets		—			6,949			976
Right-of-use assets		941			770			108
Investments		49,971			64,234			9,023
Other non-current assets		39,759			39,758			5,585
Total non-current assets		372,666			389,315			54,687
Total assets		858,227			870,652			122,300
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable		4,500			3,517			494
Salaries and welfare payable		7,873			3,316			468
Advances from customers		57			57			8
Taxes payable		3,144			8,392			1,179
Amounts due to related parties		3,477			3,383			475
Current portion of lease liabilities		620			344			48
Accruals and other current liabilities		301,204			292,627			41,105
Total current liabilities		320,875			311,636			43,777
Non-current liabilities:
Non-current lease liabilities		352			358			50
Total non-current liabilities		352			358			50
Total liabilities		321,227			311,994			43,827
Shareholders’ equity
Ordinary shares		181			181			25
Treasury stock		(138,269	)		(138,262	)		(19,422	)
Statutory reserves		6,705			6,705			942
Additional paid-in capital		9,490,093			9,490,103			1,333,067
Accumulated other comprehensive income		72,670			71,905			10,100
Accumulated deficit		(8,922,425	)		(8,871,974	)		(1,246,239	)
Total MOGU Inc. shareholders’ equity		508,955			558,658			78,473
Non-controlling interests		28,045			—			—
Total shareholders’ equity		537,000			558,658			78,473
Total liabilities and shareholders’ equity		858,227			870,652			122,300


	For the six months ended
	September 30,
	2024			2025
	RMB			RMB			US$
Net revenues
Commission revenues		35,275			33,669			4,729
Financing solutions revenues		3,827			3,520			494
Technology service revenues		20,734			23,444			3,293
Other revenues		2,017			8,052			1,131
Total revenues		61,853			68,685			9,647
Cost of revenues (exclusive of amortization of intangible assets shown separately below)		(39,560	)		(43,397	)		(6,096	)
Sales and marketing expenses		(26,362	)		(20,114	)		(2,825	)
Research and development expenses		(12,332	)		(17,226	)		(2,420	)
General and administrative expenses		(27,143	)		(24,294	)		(3,413	)
Amortization of intangible assets		(75	)		(88	)		(12	)
Other income, net		2,172			4,446			625
Loss from operations		(41,447	)		(31,988	)		(4,494	)
Interest income		3,120			1,691			238
Interest expense		—			(11	)		(2	)
Gain from investments, net		16,468			48,002			6,743
Gain on deconsolidation of a subsidiary		—			36,909			5,185
(Loss)/income before income tax and share of results of equity investees		(21,859	)		54,603			7,670
Income tax expenses		(7	)		(4,129	)		(580	)
Share of results of equity method investees		(700	)		1,356			190
Net (loss)/income		(22,566	)		51,830			7,280
Net income attributable to non-controlling interests		1,563			1,379			194
Net (loss)/income attributable to MOGU Inc.		(24,129	)		50,451			7,086
Net (loss)/income		(22,566	)		51,830			7,280
Other comprehensive loss:
Foreign currency translation adjustments, net of nil tax		(1,231	)		(765	)		(107	)
Unrealized securities holding losses, net of tax		(16,252	)		—			—
Total comprehensive (loss)/income		(40,049	)		51,065			7,173
Total comprehensive income attributable to non-controlling interests		1,563			1,379			194
Total comprehensive (loss)/income attributable to MOGU Inc.		(41,612	)		49,686			6,979
Net (loss)/income per share attributable to ordinary shareholders
Basic		(0.01	)		0.02			0.00
Diluted		(0.01	)		0.02			0.00
Net (loss)/income per ADS
Basic		(2.76	)		6.17			0.87
Diluted		(2.76	)		5.46			0.77
Weighted average number of shares used in computing net loss per share
Basic		2,620,311,457			2,452,248,054			2,452,248,054
Diluted		2,620,311,457			2,769,549,791			2,769,549,791
Share-based compensation expenses included in:
Cost of revenues		34			1			0
General and administrative expenses		604			3			0
Sales and marketing expenses		14			1			0
Research and development expenses		88			5			1


	For the six months ended
	September 30,
	2024			2025
	RMB			RMB			US$
Net cash used in operating activities		(28,953	)		(38,769	)		(5,446	)
Net cash (used in)/provided by investing activities		(244,012	)		90,525			12,716
Net cash (used in)/provided by financing activities		(822	)		7			1
Effect of foreign exchange rate changes on cash and cash equivalents and restricted cash		(644	)		(82	)		(11	)
Net (decrease)/increase in cash and cash equivalents and restricted cash		(274,431	)		51,681			7,260
Cash and cash equivalents and restricted cash at beginning of period		359,298			82,532			11,593
Cash and cash equivalents and restricted cash at end of period		84,867			134,213			18,853


		For the six months ended
		September 30,
		2024			2025
		RMB			RMB			US$
	Net (loss)/income		(22,566	)		51,830			7,280
Add:	Interest expense		—			11			2
Add:	Income tax expenses		7			4,129			580
Less:	Interest income		(3,120	)		(1,691	)		(238	)
Add:	Amortization of intangible assets		75			88			12
Add:	Depreciation of property and equipment		5,636			5,259			739
	EBITDA		(19,968	)		59,626			8,375
Add:	Share-based compensation expenses		740			10			1
Add:	Share of results of equity method investees		700			(1,356	)		(190	)
Less:	Gain from investments, net		(16,468	)		(48,002	)		(6,743	)
Less:	Gain on deconsolidation of a subsidiary		—			(36,909	)		(5,185	)
	Adjusted EBITDA		(34,996	)		(26,631	)		(3,742	)
	Net (loss)/income		(22,566	)		51,830			7,280
Less:	Gain from investments, net		(16,468	)		(48,002	)		(6,743	)
Less:	Gain on deconsolidation of a subsidiary		—			(36,909	)		(5,185	)
Add:	Share-based compensation expenses		740			10			1
	Adjusted net loss		(38,294	)		(33,071	)		(4,647	)