1. MOGU's subsidiary acquired a 1% stake in an AI tech firm. 2. The investment totaling RMB 0.1 billion equates to approximately $14.2 million. 3. MOGU operates as a KOL-driven platform for online fashion in China. 4. This acquisition may enhance MOGU's technological capabilities and market presence. 5. Investments in AI align with trends in digital commerce.
FAQ
Why Bullish?
Acquisitions in AI can bolster MOGU's competitive stance. Historical tech investments often lead to share price boosts.
How important is it?
The acquisition suggests strategic expansion. However, the relatively small stake limits immediate impact.
Why Long Term?
The positive effects of enhanced technology may take time to manifest, impacting future growth.
MOGU Inc. (NYSE:MOGU) ("MOGU" or the "Company"), a KOL-driven online fashion and lifestyle destination in China, today announced that its indirect wholly owned subsidiary, Hangzhou Shiqu Information and Technology Co., Ltd., entered into a share transfer agreement to acquire 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 (equivalent to approximately US$14.2 million).
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. MOGU may also make written or oral forward-looking statements in its filings with the U.S. Securities and Exchange Commission (the "SEC"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about MOGU's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in our annual report on Form 20-F, the 6-K and other documents filed with the SEC. All information provided in this press release is as of the date of this press release, and MOGU does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
About MOGU Inc.
MOGU Inc. (NYSE:MOGU) is a KOL-driven online fashion and lifestyle destination in China. MOGU provides people with a more accessible and enjoyable shopping experience for everyday fashion, particularly as they increasingly live their lives online. By connecting merchants, KOLs and users together, MOGU's platform serves as a valuable marketing channel for merchants, a powerful incubator for KOLs, and a vibrant and dynamic community for people to discover and share the latest fashion trends with others, where users can enjoy a truly comprehensive online shopping experience.
View source version on businesswire.com: https://www.businesswire.com/news/home/20251229130418/en/
For investor and media inquiries, please contact:
MOGU Inc.
Ms. Qi Feng
Phone: +86-571-8530-8201
E-mail: ir@mogu.com
Christensen
In China
Mr. Christian Arnell
Phone: +852-2117-0861
E-mail: christian.arnell@christensencomms.com
In the United States
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: linda.bergkamp@christensencomms.com