MOGU Inc 6-K, filed Dec 18, 2023

MOGU Inc. (MOGU)

6-K 2023-12-18 For: 2023-09-30

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Added on April 09, 2026

About this 6-K

MOGU Inc filed this 6-K on December 18, 2023.

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	As of March 31,			As of September 30,
	2023			2023
	RMB			RMB			US$
ASSETS
Current assets:
Cash and cash equivalents		416,201			366,151			50,185
Restricted cash		810			510			70
Short-term investments		145,836			103,679			14,210
Inventories, net		144			113			15
Loan receivables, net*		7,229			3,278			449
Prepayments, receivables and other current assets*		69,126			99,135			13,588
Amounts due from related parties		1,260			1,311			180
Total current assets		640,606			574,177			78,697
Non-current assets:
Property and equipment, net		194,589			222,228			30,459
Intangible assets, net		12,554			1,026			141
Right-of-use assets		5,441			2,155			295
Investments		69,318			82,231			11,271
Other non-current assets*		63,640			46,430			6,364
Total non-current assets		345,542			354,070			48,530
Total assets		986,148			928,247			127,227
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable		8,179			6,480			888
Salaries and welfare payable		13,550			8,293			1,137
Advances from customers		245			55			8
Taxes payable		11,126			3,809			522
Amounts due to related parties		4,196			4,692			643
Current portion of lease liabilities		2,654			1,485			204
Accruals and other current liabilities		270,717			265,218			36,351
Total current liabilities		310,667			290,032			39,753
Non-current liabilities:
Non-current lease liabilities		753			—			—
Deferred tax liabilities		3,369			1,614			221
Total non-current liabilities		4,122			1,614			221
Total liabilities		314,789			291,646			39,974
Shareholders’ equity
Ordinary shares		181			181			25
Treasury stock		(137,446	)		(137,446	)		(18,839	)
Statutory reserves		3,331			3,331			457
Additional paid-in capital		9,484,664			9,487,453			1,300,364
Accumulated other comprehensive income		82,396			89,068			12,207
Accumulated deficit*		(8,795,764	)		(8,832,878	)		(1,210,647	)
Total MOGU Inc. shareholders’ equity		637,362			609,709			83,567
Non-controlling interests		33,997			26,892			3,686
Total shareholders’ equity		671,359			636,601			87,253
Total liabilities and shareholders’ equity		986,148			928,247			127,227


	For the six months ended
	September 30,
	2022			2023
	RMB			RMB			US$
Net revenues
Commission revenues		71,700			55,619			7,623
Marketing services revenues		2,982			746			102
Financing service revenues		6,930			5,403			741
Technology service revenues		28,077			18,388			2,520
Other revenues		5,157			3,146			431
Total revenues		114,846			83,302			11,417
Cost of revenues (exclusive of amortization of intangible assets shown separately below)		(59,641	)		(49,602	)		(6,799	)
Sales and marketing expenses		(32,646	)		(37,274	)		(5,109	)
Research and development expenses		(20,922	)		(13,879	)		(1,902	)
General and administrative expenses		(32,741	)		(27,914	)		(3,826	)
Amortization of intangible assets		(20,022	)		(1,826	)		(250	)
Impairment of intangible assets		—			(9,945	)		(1,363	)
Other income, net		3,066			5,059			693
Loss from operations		(48,060	)		(52,079	)		(7,139	)
Interest income		9,013			7,142			979
Interest expense		(328	)		—			—
(Loss)/gain from investments, net		(19,431	)		1,267			174
Loss before income tax and share of results of equity investees		(58,806	)		(43,670	)		(5,986	)
Income tax benefits		1,086			1,662			228
Share of results of equity investee		(1,125	)		(504	)		(69	)
Net loss		(58,845	)		(42,512	)		(5,827	)
Net loss attributable to non-controlling interests		(1,407	)		(7,105	)		(974	)
Net loss attributable to MOGU Inc.		(57,438	)		(35,407	)		(4,853	)
Net loss		(58,845	)		(42,512	)		(5,827	)
Other comprehensive income/(loss):
Foreign currency translation adjustments, net of nil tax		18,495			4,970			681
Unrealized securities holding (losses)/gains, net of tax		(1,186	)		1,702			233
Total comprehensive loss		(41,536	)		(35,840	)		(4,913	)
Total comprehensive loss attributable to non-controlling interests		(1,407	)		(7,105	)		(974	)
Total comprehensive loss attributable to MOGU Inc.		(40,129	)		(28,735	)		(3,939	)
Net loss per share attributable to ordinary shareholders
Basic		(0.02	)		(0.01	)		(0.00	)
Diluted		(0.02	)		(0.01	)		(0.00	)
Net loss per ADS
Basic		(6.79	)		(4.11	)		(0.56	)
Diluted		(6.79	)		(4.11	)		(0.56	)
Weighted average number of shares used in computing net loss per share
Basic		2,537,852,017			2,581,758,960			2,581,758,960
Diluted		2,537,852,017			2,581,758,960			2,581,758,960
Share-based compensation expenses included in:
Cost of revenues		808			415			57
General and administrative expenses		5,069			1,763			242
Sales and marketing expenses		2,448			419			57
Research and development expenses		511			192			26


	For the six months ended
	September 30,
	2022			2023
	RMB			RMB			US$
Net cash used in operating activities		(16,020	)		(32,907	)		(4,510	)
Net cash used in investing activities		(28,155	)		(20,779	)		(2,848	)
Net cash used in financing activities		(2,972	)		—			—
Effect of foreign exchange rate changes on cash and cash equivalents and restricted cash		1,509			3,336			457
Net decrease in cash and cash equivalents and restricted cash		(45,638	)		(50,350	)		(6,901	)
Cash and cash equivalents and restricted cash at beginning of period		439,417			417,011			57,156
Cash and cash equivalents and restricted cash at end of period		393,779			366,661			50,255


		For the six months ended
		September 30,
		2022			2023
		RMB			RMB			US$
	Net loss		(58,845	)		(42,512	)		(5,827	)
Add:	Interest expense		328			—			—
Less:	Income tax benefits		(1,086	)		(1,662	)		(228	)
Less:	Interest income		(9,013	)		(7,142	)		(979	)
Add:	Amortization of intangible assets		20,022			1,826			250
Add:	Depreciation of property and equipment		2,067			3,529			484
	EBITDA		(46,527	)		(45,961	)		(6,300	)
Add:	Impairment of intangible assets		—			9,945			1,363
Add:	Share-based compensation expenses		8,836			2,789			382
Add:	Share of result of equity investees		1,125			504			69
Less:	Loss/(gain) from investments, net		19,431			(1,267	)		(174	)
	Adjusted EBITDA		(17,135	)		(33,990	)		(4,660	)
	Net loss		(58,845	)		(42,512	)		(5,827	)
Add:	Loss/(gain) from investments, net		19,431			(1,267	)		(174	)
Add:	Share-based compensation expenses		8,836			2,789			382
Add:	Impairment of intangible assets		—			9,945			1,363
Less:	Adjusted for tax effects		(1,235	)		(1,755	)		(241	)
	Adjusted net loss		(31,813	)		(32,800	)		(4,497	)