Parent Company Only Condensed Financial Information

12 Months Ended

Mar. 31, 2024

Condensed Financial Information Disclosure [Abstract]

Parent Company Only Condensed Financial Information

24 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, 2024.

CONDENSED BALANCE SHEETS

	As of March 31,
	2023		2024
	RMB		RMB		US$ Note 2(f)
Cash and cash equivalents		14,668		1,875		260
Prepayments, receivables and other current assets		47		50		7
Amounts due from related parties		618		—		—
Total current assets		15,333		1,925		267
Non-current assets:
Amounts due from subsidiaries		1,050,048		1,091,375		151,154
Investments in other investees		30,849		35,086		4,859
Total non-current assets		1,080,897		1,126,461		156,013
Total assets		1,096,230		1,128,386		156,280
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Amounts due to subsidiaries		104,015		104,015		14,406
Taxes payable		526		—		—
Accruals and other current liabilities		2,429		879		122
Total current liabilities		106,970		104,894		14,528
Non-current liabilities:
Investment deficit of subsidiaries		350,284		433,800		60,081
Deferred tax liabilities		1,614		1,299		180
Total non-current liabilities		351,898		435,099		60,261
Total liabilities		458,868		539,993		74,789

	As of March 31,
	2023			2024
	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, 2023 and 2024; 2,433,709,000 and 2,433,963,400 shares issued as of March 31, 2023 and 2024, respectively; 2,161,314,900 and 2,161,569,300 shares outstanding as of March 31, 2023 and 2024, respectively)		165			165			23
Class B ordinary shares (US$0.00001 par value; 500,000,000 shares authorized as of March 31, 2023 and 2024; 303,234,004 shares issued and outstanding as of March 31, 2023 and 2024)		16			16			2
Treasury stock (US$0.00001 par value; 272,394,100 shares as of March 31, 2023 and 2024)		(137,446	)		(137,446	)		(19,036	)
Additional paid-in capital		9,484,664			9,489,254			1,314,246
Statutory reserves		3,331			3,331			461
Accumulated other comprehensive income		82,396			89,567			12,405
Accumulated deficit		(8,795,764	)		(8,856,494	)		(1,226,610	)
Total MOGU Inc. shareholders’ equity		637,362			588,393			81,491
Total liabilities and shareholders’ equity		1,096,230			1,128,386			156,280

CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

	For the year ended March 31,
	2022			2023			2024
	RMB			RMB			RMB			US$ Note 2(f)
General and administrative expenses		(5,151	)		(3,249	)		(2,362	)		(327	)
Amortization of intangible assets		(301,866	)		(49,957	)		—			—
Other income/(expense), net		1,008			(78,030	)		3,892			539
(Loss)/gain from operations		(306,009	)		(131,236	)		1,530			212
Interest income		1			—			—			—
Loss from subsidiaries, VIEs and VIEs’subsidiaries		(334,730	)		(38,453	)		(60,288	)		(8,348	)
Loss from investments, net		(1,636	)		(16,816	)		—			—
Loss before income tax and share of results of equity investee		(642,374	)		(186,505	)		(58,758	)		(8,136	)
Share of results of equity investee		—			99			(527	)		(73	)
Net loss		(642,374	)		(186,406	)		(59,285	)		(8,209	)
Other comprehensive (loss)/income:
Foreign currency translation adjustments, net of nil tax		(17,400	)		14,264			3,675			509
Share of other comprehensive (loss)/income of subsidiaries, VIEs and VIEs’ subsidiaries, net of tax		(10,729	)		(1,761	)		2,276			315
Unrealized securities holding gains, net of tax		—			877			1,220			169
Total other comprehensive (loss)/income		(28,129	)		13,380			7,171			993
Total comprehensive loss		(670,503	)		(173,026	)		(52,114	)		(7,216	)

CONDENSED STATEMENTS OF CASH FLOWS

	For the year ended March 31,
	2022			2023			2024
	RMB			RMB			RMB			US$ Note 2(f)
Net cash used in operating activities		(1,642	)		(1,712	)		(10,577	)		(1,465	)
Net cash provided by/(used in) investing activities		13,608			13,364			(2,216	)		(307	)
Net cash used in financing activities		(9,689	)		(1,333	)		—			—
Net increase/(decrease) in cash and cash    equivalents		2,277			10,319			(12,793	)		(1,772	)
Cash and cash equivalents at beginning of year		2,072			4,349			14,668			2,032
Cash and cash equivalents at end of year		4,349			14,668			1,875			260

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.