MOGU Inc. Buys Hangzhou Commercial Property for RMB77.7M

TL;DR

**MOGU just dropped RMB77.7M on a new commercial property in Hangzhou.**

AI Summary

On January 29, 2024, MOGU Inc. entered into a property purchase agreement to acquire a commercial property in Hangzhou, China, from Hangzhou Great Channel Information Technology Co., Ltd. The property, with a total floor area of 7,067.17 square meters, was purchased for RMB77,738,870.00 for business purposes. This acquisition matters to investors as it represents a significant capital expenditure and a potential expansion or consolidation of MOGU's physical operational footprint, which could impact future operational costs and efficiency.

Why It Matters

This acquisition signifies a substantial investment in physical assets, potentially indicating MOGU's long-term commitment to its operations in Hangzhou and could affect its balance sheet and future operational expenses.

Risk Assessment

Risk Level: low — The filing reports a standard property acquisition for business purposes, which is a routine corporate activity and does not inherently introduce high risk.

Analyst Insight

An investor should monitor MOGU Inc.'s upcoming financial reports to see how this RMB77.7 million property acquisition impacts their balance sheet, cash flow, and future operational expenses, and if it aligns with their strategic business goals.

Key Numbers

• RMB77,738,870.00 — Property Purchase Consideration (The total cost MOGU Inc. is paying for the commercial property.)
• 7,067.17 square meters — Property Floor Area (The size of the commercial property MOGU Inc. is acquiring.)

Key Players & Entities

• MOGU Inc. (company) — registrant and buyer of the property
• Hangzhou Great Channel Information Technology Co., Ltd. (company) — seller of the property
• RMB77,738,870.00 (dollar_amount) — total consideration for the property purchase
• January 29, 2024 (date) — date the property purchase agreement was entered into
• 7,067.17 square meters (dollar_amount) — total floor area of the acquired commercial property

Forward-Looking Statements

• MOGU Inc.'s operational efficiency will improve due to the consolidation or expansion provided by the new property. (MOGU Inc.) — medium confidence, target: Within 12-24 months
• The acquisition will lead to an increase in MOGU Inc.'s fixed assets on its balance sheet. (MOGU Inc.) — high confidence, target: Next quarterly report

FAQ

Filing Documents

• property_purchase_agreem.htm (6-K) — 27KB
• 0000950170-24-009623.txt ( ) — 28KB

From the Filing

6-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of February 2024 Commission File Number: 001-38748 MOGU Inc. Mingqi Center, 8/F, Building No. 1 No. 666 Zhenhua Road Xihu District, Hangzhou, 310012 People’s Republic of China (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F Form 40-F CONTENTS Entry into a Property Purchase Agreement On January 29, 2024, MOGU Inc. entered into a property purchase agreement with Hangzhou Great Channel Information Technology Co., Ltd. for a commercial property located in Hangzhou, China with a total floor area of 7,067.17 square meters for a total consideration of RMB77,738,870.00, for business purposes. The transaction is subject to customary closing conditions. 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 announcement is as of the date of this announcement, 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. 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 Ms. Crystal Lai Phone: +852 2232 3907 E-mail:crystal.lai@christensencomms.com In the United States Ms. Linda Bergkamp Phone: +1-480-614-3004 Email: linda.bergkamp@christensencomms.com SIGNATURE Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: February 1, 2024 MOGU Inc. By: /s/ Qi Chen Name: Qi Chen Title: Chairman

View Full Filing

View this 6-K filing on SEC EDGAR