Parent Company Only Condensed Financial Information

12 Months Ended

Mar. 31, 2023

Condensed Financial Information Disclosure [Abstract]

Parent Company Only Condensed Financial Information

23 PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION

The Company performed a test on the restricted net assets of consolidated subsidiaries, VIEs and VIEs’ subsidiaries in accordance with SEC Regulation S-X Rule 4-08 (e) (3), “General Notes to Financial Statements” and concluded that it was applicable for the Company to disclose the financial information for the parent company only as the restricted net assets of consolidated subsidiaries exceed 25 percent of consolidated net assets as of the end of the most recently completed fiscal year. The subsidiaries did not pay any dividend to the Company for the years presented. Certain information and footnote disclosures generally included in financial statements prepared in accordance with U.S. GAAP have been condensed and omitted. The footnote disclosures contain supplemental information relating to the operations of the Company, as such, these statements should be read in conjunction with the notes to the consolidated financial statements of the Company.

The Company did not have significant capital and other commitments, or guarantees as of March 31, 2023.

CONDENSED BALANCE SHEETS

	As of March 31,
	2022		2023
	RMB		RMB		US$ Note 2(f)
Cash and cash equivalents		4,349		14,668		2,136
Prepayments, receivables and other current assets		795		47		7
Amounts due from related parties		571		618		90
Total current assets		5,715		15,333		2,233
Non-current assets:
Intangible assets, net		46,000		—		—
Amounts due from subsidiaries		1,066,882		1,050,048		152,899
Investments in other investees		37,789		30,849		4,492
Total non-current assets		1,150,671		1,080,897		157,391
Total assets		1,156,386		1,096,230		159,624
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Amounts due to subsidiaries		104,015		104,015		15,146
Taxes payable		526		526		76
Accruals and other current liabilities		1,439		2,429		355
Total current liabilities		105,980		106,970		15,577
Non-current liabilities:
Investment deficit of subsidiaries		258,372		350,284		51,005
Deferred tax liabilities		1,408		1,614		235
Other non-current liabilities		890		—		—
Total non-current liabilities		260,670		351,898		51,240
Total liabilities		366,650		458,868		66,817

	As of March 31,
	2022			2023
	RMB			RMB			US$ Note 2(f)
SHAREHOLDERS’ EQUITY
Class A ordinary shares (US$0.00001 par value; 49,000,000,000 shares authorized as of March 31, 2022 and 2023; 2,433,353,800 and 2,433,709,000 shares issued as of March 31, 2022 and 2023,respectively; 2,190,737,700 and 2,161,314,900 shares outstanding as of March 31, 2022 and 2023, respectively)		165			165			24
Class B ordinary shares (US$0.00001 par value; 500,000,000 shares authorized as of March 31, 2022 and 2023; 303,234,004 shares issued and outstanding as of March 31, 2022 and 2023, respectively)		16			16			2
Treasury stock (US$0.00001 par value; 242,616,100 and 272,394,100 shares as of March 31, 2022 and 2023)		(136,113	)		(137,446	)		(20,014	)
Additional paid-in capital		9,471,101			9,484,664			1,381,074
Statutory reserves		3,331			3,331			485
Accumulated other comprehensive income		69,016			82,396			11,999
Accumulated deficit		(8,617,780	)		(8,795,764	)		(1,280,763	)
Total MOGU Inc. shareholders’ equity		789,736			637,362			92,807
Total liabilities and shareholders’ equity		1,156,386			1,096,230			159,624

CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

	For the year ended March 31,
	2021			2022			2023
	RMB			RMB			RMB			US$ Note 2(f)
General and administrative expenses		(9,155	)		(5,151	)		(3,249	)		(473	)
Amortization of intangible assets		(322,230	)		(301,866	)		(49,957	)		(7,274	)
Other income, net		6,138			1,008			(78,030	)		(11,362	)
Loss from operations		(325,247	)		(306,009	)		(131,236	)		(19,109	)
Interest income		78			1			—			—
Loss from subsidiaries, VIEs and VIEs’ subsidiaries		(82,563	)		(334,730	)		(38,453	)		(5,600	)
(Loss)/gain from investments, net		89,518			(1,636	)		(16,816	)		(2,449	)
Loss before income tax and share of results of equity investee		(318,214	)		(642,374	)		(186,505	)		(27,158	)
Income tax expenses		(9,757	)		—			—			—
Share of results of equity investee		—			—			99			14
Net loss		(327,971	)		(642,374	)		(186,406	)		(27,144	)
Net loss attributable to MOGU Inc.,		(327,971	)		(642,374	)		(186,406	)		(27,144	)
Net Loss		(327,971	)		(642,374	)		(186,406	)		(27,144	)
Other comprehensive income/(loss):
Foreign currency translation adjustments, net of nil tax		(72,993	)		(17,400	)		14,264			2,077
Share of other comprehensive (loss)/income of subsidiaries, VIEs and VIEs’ subsidiaries, net of tax		9,726			(10,729	)		(1,761	)		(256	)
Unrealized securities holding gains/(losses), net of tax		(41,384	)		—			877			127
Total other comprehensive income/(loss)		(104,651	)		(28,129	)		13,380			1,948
Total comprehensive loss		(432,622	)		(670,503	)		(173,026	)		(25,196	)

CONDENSED STATEMENTS OF CASH FLOWS

	For the year ended March 31,
	2021			2022			2023
	RMB			RMB			RMB			US$ Note 2(f)
Net cash provided by/(used in) operating activities		3,322			(1,642	)		(1,712	)		(249	)
Net cash provided by investing activities		37,446			13,608			13,364			1,946
Net cash used in financing activities		(119,249	)		(9,689	)		(1,333	)		(194	)
Net (decrease)/increase in cash and cash equivalents		(78,481	)		2,277			10,319			1,503
Cash and cash equivalents at beginning of year		80,553			2,072			4,349			633
Cash and cash equivalents at end of year		2,072			4,349			14,668			2,136

Basis of presentation

The Company’s accounting policies are the same as the Group’s accounting policies with the exception of the accounting for the investments in subsidiaries, VIEs and VIEs’ subsidiaries.

For the Company only condensed financial information, the Company records its investments in subsidiaries, VIEs and VIEs’ subsidiaries under the equity method of accounting as prescribed in ASC 323, Investments—Equity Method and Joint Ventures.

Such investments are presented on the Condensed Balance Sheets as “Investments in subsidiaries, VIEs and VIEs’ subsidiaries” and shares in the subsidiaries, VIEs and VIEs’ subsidiaries’ loss are presented as “Equity in loss of subsidiaries, VIEs and VIEs’ subsidiaries” on the Condensed Statements of Operations and Comprehensive Loss. The parent company only condensed financial information should be read in conjunction with the Group’ consolidated financial statements.