MOGU Inc. Announces Entry into Definitive Agreements to Increase Ownership of Hangzhou Ruisha
26 Julho 2021 - 7:00PM
Business Wire
MOGU Inc. (NYSE: MOGU) (“MOGU” or the “Company”), a leading
KOL-driven online fashion and lifestyle destination in China, today
announced that Hangzhou Juangua Network Co., Ltd. (“Hangzhou
Juangua”), a consolidated affiliated entity of the Company, has
entered into definitive agreements with Hangzhou Ruisha Technology
Co., Ltd. (“Hangzhou Ruisha”), Hangzhou Ruisha’s existing
shareholder and Hangzhou Ruisha’s founder, to increase and obtain
controlling equity interests in Hangzhou Ruisha.
Under the definitive agreements, Hangzhou Juangua will purchase
equity interests from the existing shareholder of Hangzhou Ruisha
and subscribe for additional equity interests in Hangzhou Ruisha,
at an aggregate consideration of RMB50 million in cash. MOGU will
beneficially own 59.62% equity interests in Hangzhou Ruisha at the
closing of the transactions. The transactions are subject to
customary closing conditions.
Hangzhou Ruisha is committed to providing brands with one-stop
and customized services for full-domain operations, including a
wide variety of operational services, data platforms and other
software services, as well as value-added services such as traffic
placement.
Mr. Qi Chen, MOGU’s chairman and chief executive officer,
commented, “The investment in Hangzhou Ruisha represents
continuingly expanded and utilized capabilities of MOGU to provide
services for business customers. Hangzhou Ruisha’s solutions are
increasingly sought after by brands which would like to embrace
online growth in spite of limited technical and operational
experiences. This investment is an important step in MOGU’s
development towards a more extensive ecosystem for live video
broadcast e-commerce.”
About MOGU Inc.
MOGU Inc. (NYSE: MOGU) is a leading 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.
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20210726005543/en/
For investor and media inquiries, please contact:
MOGU Inc.
Ms. Jiemo Feng Phone: +86-571-8530-8201 E-mail: ir@mogu.com
Christensen
In China Mr. Eric Yuan Phone: +86-10-5900-1548 E-mail:
eyuan@christensenir.com
In the United States Ms. Linda Bergkamp Phone: +1-480-614-3004
E-mail: lbergkamp@christensenir.com
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