Financial Statements — MOGU
Balance Sheet
(in billions CNY)| Metric | FY
2026 | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2021 | FY
2020 | FY
2019 |
|---|
| Cash & Equivalents | 0.13 | 0.08 | 0.36 | 0.42 | 0.07 | 0.08 | 0.12 | 0.19 |
| Short-term Investments | 0.16 | 0.30 | 0.06 | 0.02 | 0.03 | 0.26 | 0.03 | 0.21 |
| Accounts Receivable | 0.01 | 0.06 | 0.02 | -- | -- | -- | -- | -- |
| Inventory | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Current Assets | 0.34 | 0.49 | 0.51 | 0.64 | 0.11 | 0.15 | 1.31 | 1.78 |
| Property, Plant & Equipment | 0.27 | 0.28 | 0.30 | 0.03 | 0.01 | 0.01 | 0.01 | 0.01 |
| Goodwill | -- | 0.00 | 0.00 | 0.00 | 0.01 | 0.19 | 0.19 | 1.57 |
| Intangible Assets | 0.00 | 0.00 | 0.00 | 0.00 | 0.09 | 0.43 | 0.81 | 1.00 |
| Total Non-current Assets | 0.07 | 0.37 | 0.43 | 0.35 | 0.45 | 0.85 | 0.16 | 2.83 |
| Total Assets | 0.83 | 0.86 | 0.13 | 0.99 | 0.18 | 0.28 | 2.44 | 4.60 |
| Accounts Payable | 0.00 | 0.00 | 0.01 | 0.01 | 0.02 | 0.02 | 0.00 | 0.00 |
| Short-term Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -- | -- | -- |
| Total Current Liabilities | 0.05 | 0.04 | 0.32 | 0.31 | 0.32 | 0.37 | 0.44 | 0.55 |
| Total Non-current Liabilities | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.02 | 0.00 | 0.01 |
| Total Liabilities | 0.05 | 0.32 | 0.32 | 0.31 | 0.33 | 0.38 | 0.46 | 0.56 |
| Retained Earnings | (8.92) | (8.92) | (8.86) | (8.80) | (1.36) | (1.22) | (7.65) | (5.43) |
| Total Stockholder Equity* | 0.07 | 0.51 | 0.08 | 0.64 | 0.79 | (0.10) | 0.28 | 0.60 |
* Derived from reported values
Income Statement
(in billions CNY) (except per-share rows)| Metric | FY
2026 | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2021 | FY
2020 | FY
2019 |
|---|
| Total Revenue | 0.13 | 0.14 | 0.02 | 0.23 | 0.34 | 0.48 | 0.84 | 1.07 |
| Cost of Revenue | 0.01 | 0.01 | 0.09 | 0.11 | 0.03 | 0.03 | 0.29 | 0.31 |
| Gross Profit | 0.04 | 0.06 | 0.07 | 0.12 | 0.03 | 0.05 | 0.08 | 0.11 |
| Research & Development | 0.00 | 0.00 | 0.03 | 0.04 | 0.08 | 0.02 | 0.02 | 0.04 |
| Selling, General & Admin | 0.05 | 0.06 | 0.06 | 0.06 | 0.01 | 0.02 | 0.02 | 0.17 |
| Total Operating Expenses | 0.11 | 0.16 | 0.15 | 0.04 | 0.85 | 0.11 | 0.37 | 0.20 |
| Operating Income | (0.07) | (0.10) | (0.08) | (0.19) | (0.11) | (0.07) | (0.29) | (0.09) |
| Interest Expense | 0.00 | 0.00 | 0.00 | 0.00 | -- | -- | -- | -- |
| Pretax Income | 0.01 | (0.06) | (0.07) | (0.19) | (0.66) | (0.32) | (2.22) | (0.50) |
| Tax Provision | 0.01 | 0.00 | -0.00 | -0.00 | -0.00 | 0.01 | -0.00 | -0.00 |
| Net Income | 0.00 | (0.06) | (0.06) | (0.03) | (0.10) | (0.05) | (0.31) | (0.49) |
| Basic EPS | 0.00 | (0.02) | 0.00 | (0.01) | (0.25) | (0.12) | (0.12) | (0.13) |
| Diluted EPS | 0.00 | (0.02) | 0.00 | (0.07) | (0.25) | (0.12) | (0.12) | (0.13) |
Cash Flow Statement
(in millions CNY)| Metric | FY
2026 | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2021 | FY
2020 | FY
2019 |
|---|
| Operating Cash Flow | (47.42) | (67.92) | (5.60) | (10.09) | (18.05) | (11.89) | (311.79) | (325.81) |
| Capital Expenditures | 4.10 | 10.08 | 94.16 | 18.96 | 55.14 | 23.30 | 1.47 | 1.29 |
| Free Cash Flow* | (51.51) | (78.00) | (99.76) | (29.05) | (73.19) | (35.19) | (313.26) | (327.10) |
| Investing Cash Flow | 99.33 | (207.93) | (19.77) | 0.09 | 2.20 | (14.75) | (113.15) | (82.84) |
| Financing Cash Flow | 0.01 | (0.82) | 0.00 | (1.76) | 0.45 | (119.25) | (4.14) | 61.82 |
* Derived from reported values
