Financial Data and Key Metrics Changes - MOGU's GMV for Q3 FY2021 was RMB5.046 billion, a decrease of 19.9% year-over-year [8] - Total revenue decreased by 45.6% to RMB146.5 million from RMB269.5 million in the same quarter of FY2020 [9] - Net loss attributable to ordinary shareholders was RMB36.7 million compared to a net loss of RMB1.634 billion in the same period of FY2020 [12] - Adjusted EBITDA turned positive at RMB1.2 million compared to a negative RMB86.7 million in the same period of FY2020 [12] Business Line Data and Key Metrics Changes - MOGU Live GMV increased by 20.9% year-over-year to RMB4.1 billion, contributing 80.3% to overall GMV [6][8] - Active buyers of the live video broadcasting business grew by 9.4% year-over-year to 3.5 million [8] Market Data and Key Metrics Changes - The overall GMV for the 12-month period ended December 31, 2020, was RMB13.698 billion, a decrease of 25.1% year-over-year [8] - Marketing services revenue decreased by 75.9% to RMB17.4 million from RMB72.5 million in the same period of FY2020 [9] Company Strategy and Development Direction - The company aims to explore new business opportunities, including cross-border e-commerce and offline business [7] - MOGU plans to expand into higher-margin categories such as cosmetics, skincare, and nutrition [21] - The focus will remain on live e-commerce, with continued investment to enhance competitive advantage [15][16] Management's Comments on Operating Environment and Future Outlook - Management believes the live e-commerce sector has high growth potential but is reaching a mature stage [15] - The company is confident that product innovation and a KOL-centric system will deliver a differentiated shopping experience [13] - Customer acquisition costs are rising, leading to a focus on customer retention and efficient spending [18] Other Important Information - Cash and cash equivalents were RMB820.1 million as of December 31, 2020, down from RMB1,095.4 million as of March 31, 2020 [13] - The company successfully repurchased 8 million shares for approximately US$17 million, representing 7% of outstanding shares [13] Q&A Session Summary Question: What is the company's strategy going forward regarding EBITDA and user acquisition? - Management indicated a focus on both revenue growth and margin expansion, with a strategy to retain existing users while acquiring new ones efficiently [14] Question: What is the strategy for category expansion? - The company plans to expand into higher-margin categories while continuing to support top KOLs to enhance competitiveness [20][21] Question: What is the competitive landscape of live e-commerce in China? - Management highlighted MOGU's pioneering role in live e-commerce and its commitment to product innovation as key differentiators [25][26] Question: Can you elaborate on cross-border e-commerce opportunities? - The company aims to leverage its experience and KOL capabilities to explore cross-border e-commerce, utilizing its established knowledge and human capital [28]
MOGU(MOGU) - 2021 Q3 - Earnings Call Transcript