MOGU Announces Unaudited Financial Results for the Six Months Ended September 30, 2024 [Yahoo! Finance]
MOGU Inc. American Depositary Shares (each representing 25 Class A Ordinary Shares) (MOGU)
Last mogu inc. american depositary shares (each representing 25 class a ordinary shares) earnings: 11/29 04:00 am
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Source: Yahoo! Finance
destination in China, today announced its unaudited financial results for the six months ended September 30, 2024. Mr. Fan Yiming, Chief Executive Officer of MOGU, commented, "In the first half of fiscal year 2025, China's online retail industry entered a phase of intense competition for existing markets, marked by a further decline in consumer purchasing appetite. All major platforms responded by implementing highly competitive product pricing and user benefits to attract customers, resulting in a sharper-than-expected decline in MOGU's user traffic during this period. Meanwhile, the platform faced challenges with the lifecycle of key opinion leaders (KOLs), which led to a decline in live streaming hours and sales. Consequently, MOGU's gross merchandise value (GMV ) declined year-on-year in the first half of fiscal year 2025. To address these challenges, we have been launching targeted marketing initiatives focusing on high-value members during this fiscal year, with an aim to in
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