MOGU: Fashion, Figures, and Future

Key Highlights

• 24% Increase in GMV
• 11% Revenue Boost
• Operating Loss Narrows

Detailed Performance

Revenue and Growth

• Total Revenue: RMB 68.7 million
• Gross Merchandise Value (GMV): 24% increase
• Operating Loss: RMB 32.0 million (improved from previous year)

Operational Improvements

• Live-streaming Hours and Product Conversion Rates: Significant improvements
• MCN Operations: Stabilized with over 60 fashion KOLs signed
• Core Platform and MCN Operations: Enhanced synergy

Revenue Breakdown

• Commission Revenues: Decreased by 4.6%
• Technology Service Revenues: Increased by 13.1%
• Other Revenues: Massive increase of 299.2% (driven by KOL advertising and promotion services)

Financial Health

• Adjusted EBITDA: Negative RMB 26.6 million
• Adjusted Net Loss: RMB 33.1 million
• Cash Position: RMB 425.5 million in cash and cash equivalents as of September 30, 2025

Future Plans

• Enhance Live-streaming Programs
• Refine Product Planning
• Implement Tailored Sales Incentive Strategies
• Expand KOL Network
• Improve Supply Chain Synergies

Risks and Uncertainties

• Forward-looking Statements: Actual results may differ from expectations