MOGU Inc. Announces US$10 Million Share Repurchase Program

HANGZHOU, China–(BUSINESS WIRE)–MOGU Inc. (NYSE: MOGU) (“MOGU” or the “Company”), a KOL-driven online fashion and lifestyle destination in China, today announced that its board of directors has authorized a new share repurchase program, where the Company is authorized to repurchase up to US$10 million of its shares, effective until August 31, 2023. The Company expects to fund the repurchases under this program with its existing cash balance.

The Company’s proposed repurchases may be made from time to time on the open market at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations. The Company’s board of directors will review the share repurchase program periodically, and may authorize adjustment of its terms and size.

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 more information on MOGU, please visit: http://ir.mogu-inc.com.

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.

Contacts

For investor and media inquiries:

MOGU Inc.
Ms. Qi Feng
+86-571-8530-8201
ir@mogu.com

Christensen
In China
Mr. Eric Yuan
+86-10-5900-1548
eric.yuan@christensencomms.com

In the United States
Ms. Linda Bergkamp
+1-480-614-3004
linda.bergkamp@christensencomms.com

There’s a lot of noise in the stock market every single day. New and seasoned investors alike need help filtering the news, data points and catalysts that are relevant to them. This is where it’s helpful to implement our VipLiveAlerts-Pro notification network to help you responsibly manage your assets and stay aware of changes that might affect your portfolios.

Disclaimer: This content is only intended for informational purposes. Before making any investment, you should always do your own research and analysis.

The best stock news travels fast! However, it travels even faster when shared by dedicated viewers like you. Help power the wealth movement and share your favorite VipLiveAlerts-Pro news today!

%d bloggers like this: