HANGZHOU, China--(BUSINESS WIRE)--MOGU Inc. (NYSE: MOGU) ("MOGU†or the "Company†), a KOL-driven online fashion and lifestyle destination in China, today announced its unaudited financial results for the six months ended September 30, 2025. Mr. Fan Yiming, Chief Executive Officer of MOGU, commented, "In the first half of the fiscal year 2026, we enhanced our live-streaming programs, refined product planning, and implemented tailored sales incentive strategies for the promotion by our key opinion leaders (K ...

Group 1 - MOGU Inc. announced the acquisition of less than 1% of the registered capital in a China-based artificial intelligence infrastructure technology company for a total consideration of RMB 0.1 billion (approximately US$14.2 million) [1] - The acquisition is made through MOGU's indirect wholly owned subsidiary, Hangzhou Shiqu Information and Technology Co., Ltd. [1] - MOGU is positioned as a KOL-driven online fashion and lifestyle destination in China, enhancing its market presence through strategic investments [1][3] Group 2 - MOGU provides a platform that connects merchants, KOLs, and users, facilitating a comprehensive online shopping experience [3] - The company aims to create a vibrant community for users to discover and share the latest fashion trends [3] - MOGU's platform serves as a valuable marketing channel for merchants and a powerful incubator for KOLs [3]

Core Viewpoint - MOGU Inc. has announced the dismissal of its former auditor, PricewaterhouseCoopers Zhong Tian LLP, and appointed Marcum Asia CPAs LLP as its successor auditor, effective November 13, 2025, with the approval of the Company's Audit Committee [1]. Auditor Transition - The dismissal of the former auditor and the appointment of the successor auditor were approved by the Company's Audit Committee [1]. - The former auditor's reports for the fiscal years ended March 31, 2025, and March 31, 2024, contained no adverse opinions or disclaimers [2]. - There were no disagreements with the former auditor regarding accounting principles or practices during the fiscal years ended March 31, 2025, and March 31, 2024, and the interim period through November 13, 2025 [3]. - Material weaknesses related to the Company's internal control over financial reporting were identified, including insufficient financial reporting personnel knowledgeable in U.S. GAAP and SEC requirements, lack of control on reconciliations, and lack of periodic reviews of high-risk activities [3]. - The Company is working closely with both the former and successor auditors to ensure a seamless transition [6]. Communication with Auditors - The Company provided the former auditor with a copy of the current report on Form 6-K and requested a letter to the SEC confirming agreement with the statements made [4]. - During the relevant fiscal years and interim period, the Company did not consult with the successor auditor on accounting principles or any matters that would constitute disagreements or reportable events [5].

Group 1 - The top five Chinese concept stocks that experienced the largest declines in closing prices are ChowChow Cloud Inte, Youjia Insurance, Huize, Yiying Securities, and Mogu [1] - ChowChow Cloud Inte saw a significant drop of 32.59%, closing at 8.500 with a decrease of 4.110 and a trading volume of 2.1174 million [1] - Youjia Insurance declined by 20.65%, closing at 1.960 with a decrease of 0.510 and a trading volume of 0.5839 million [1] - Huize experienced a drop of 20.52%, closing at 3.060 with a decrease of 0.790 and a trading volume of 3.7048 million [1] - Yiying Securities fell by 17.24%, closing at 0.1407 with a decrease of 0.0293 and a trading volume of 0.14904 million [1] - Mogu saw a decline of 16.00%, closing at 4.200 with a decrease of 0.800 and a trading volume of 0.7557 million [1]

Core Insights - Cryptocurrency-linked penny stocks are experiencing significant trading activity, with small-cap firms adopting treasury strategies involving Bitcoin and Ethereum to attract investors [1] - Mogu, a Chinese online fashion company, has announced a plan to invest $20 million into Bitcoin, Ethereum, and Solana, positioning itself as a digital asset treasury stock [2][3] - Mogu's stock surged over 75% following the announcement of its crypto treasury strategy, transforming it into a "digital asset treasury" play [4] Company Overview - Mogu's recent pivot to cryptocurrencies comes amid challenges in its core business, reporting approximately RMB141.2 million ($19.5 million) in revenue for the fiscal year ending March 31, 2025, a decline of nearly 12% year-over-year [6] - The company reported a net loss of RMB62.6 million ($8.6 million) for FY2025, an increase from RMB59.3 million the previous year, with an operating loss widening to RMB101.1 million ($13.9 million) [7] - Mogu's gross merchandise volume (GMV) fell nearly 29% in the second half of FY2025 compared to the same period last year, attributed to increased competition and weaker user engagement [7]

Group 1 - The core point of the article is that MOGU Inc. (MOGU.US) has seen a significant stock price increase, rising over 84% on Thursday and continuing to rise by more than 4.3% in pre-market trading, reaching $4.81 [1] - The company's board has approved a strategic asset allocation plan to invest up to $20 million in digital currencies, focusing on Bitcoin, Ethereum, and Solana, as well as related securities and investment products [1] - The board believes that integrating digital assets into the company's core assets will diversify its capital reserves and enhance its operational capabilities to support next-generation artificial intelligence products and services [1]

Group 1 - The top five gainers among Chinese concept stocks include MOGU with an increase of 84.4%, MSC with 37.39%, GSIW with 36.27%, MGIH with 25.14%, and SXTC with 22.86% [1] - MOGU's latest price is 4.610, with a trading volume of 445 million [1] - MSC's latest price is 4.740, with a trading volume of 3.9594 million [1] - GSIW's latest price is 0.1390, with a trading volume of 4.0412 million [1] - MGIH's latest price is 2.190, with a trading volume of 27.6205 million [1] - SXTC's latest price is 1.720, with a trading volume of 659,900 [1]

Shares of Nasdaq-listed fashion company Mogu soared on Thursday after the company announced it was buying digital coins Bitcoin, Ethereum, and Solana with its spare cash. https://t.co/pinwqx3dmJ ...

Group 1 - The Nasdaq Golden Dragon China Index saw an intraday increase of 2% [1] - Notable gains among popular Chinese concept stocks include Century Internet rising by 16.4%, Zai Lab rebounding by 11.6%, and Global Data increasing by 7.8% [1] - Alibaba and NIO also experienced positive movements, with increases of 4.7% and 4.2% respectively [1] Group 2 - Significant stock price surges were observed in other companies, with Mogu Street soaring by 124%, EDHL rising by 28%, and Global Mofei increasing by 25% [1] - Additional notable increases include Tiancheng Technology at 20%, Newegg at 12.5%, and Wunong Network at 9.7% [1]

Core Viewpoint - Mogu Inc. (MOGU.US) announced a strategic allocation of up to $20 million in corporate assets to the cryptocurrency sector, primarily focusing on Bitcoin, Ethereum, and Solana, leading to a significant pre-market stock price surge of over 80% [1] Group 1 - Mogu's stock price increased by over 80% in pre-market trading following the announcement [1] - The company's stock price rose over 24% to $3.11 during pre-market trading [1] - The board authorized Chairman Chen Qi to determine the timing and amount of cryptocurrency purchases [1] Group 2 - The board believes that incorporating digital assets into its core holdings can diversify the company's treasury and enhance operational capabilities necessary for next-generation AI products and services [1]