Table of Contents Title of each classTrading Symbol(s) Name of each exchange on which registered MOGU The New York Stock Exchange (The New York Stock Exchange) UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Form 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 2024. OR ☐ TRANSITION REPORT PURSU ...

Financial Performance - Total revenues for the six months ended September 30, 2023 decreased by 27.5% to RMB83.3 million (US$11.4 million) from RMB114.8 million during the same period of the fiscal year 2023[3] - Gross merchandise value (GMV) for the six months ended September 30, 2023 was RMB2,196 million (US$301.0 million), a decrease of 22.3% year-on-year[3] - Live video broadcast (LVB) associated GMV for the six months ended September 30, 2023 decreased by 20.9% to RMB2,137 million (US$292.9 million)[3] - Loss from operations for the six months ended September 30, 2023 was RMB52.1 million (US$7.1 million), compared to a loss of RMB48.1 million in the same period of the fiscal year 2023[10] - Net loss attributable to MOGU Inc. for the six months ended September 30, 2023 was RMB35.4 million (US$4.9 million), compared to a net loss of RMB57.4 million in the same period of the fiscal year 2023[11] - Commission revenues for the six months ended September 30, 2023 decreased by 22.4% to RMB55.6 million (US$7.6 million) from RMB71.7 million in the same period of the fiscal year 2023[6] - Marketing services revenues for the six months ended September 30, 2023 decreased by 75.0% to RMB0.7 million (US$0.1 million) from RMB3.0 million in the same period of the fiscal year 2023[6] - Total revenues for the three months ended September 30, 2023, were RMB 83,302 thousand, down 27.5% from RMB 114,846 thousand in the same period of 2022[24] - The net loss for the three months ended September 30, 2023, was RMB 42,512 thousand, a reduction of 27.7% compared to a net loss of RMB 58,845 thousand in the same period of 2022[24] - MOGU's commission revenues for the three months ended September 30, 2023, were RMB 55,619 thousand, a decrease of 22.4% from RMB 71,700 thousand in the same period of 2022[24] - Net loss for the six months ended September 30, 2023, was RMB 42,512, compared to RMB 58,845 for the same period in 2022, representing a reduction of approximately 27.8%[28] Cash and Assets - Cash and cash equivalents, restricted cash, and short-term investments were RMB470.3 million (US$64.5 million) as of September 30, 2023, compared with RMB562.8 million as of March 31, 2023[12] - Cash and cash equivalents decreased to RMB 366,151 thousand as of September 30, 2023, from RMB 416,201 thousand as of March 31, 2023, reflecting a decline of 12.0%[22] - As of September 30, 2023, MOGU Inc. reported total assets of RMB 928,247 thousand, a decrease of 5.9% from RMB 986,148 thousand as of March 31, 2023[22] - The company’s total liabilities decreased to RMB 291,646 thousand as of September 30, 2023, from RMB 314,789 thousand as of March 31, 2023, a decline of 7.3%[22] - MOGU's total shareholders' equity as of September 30, 2023, was RMB 636,601 thousand, down from RMB 671,359 thousand as of March 31, 2023, representing a decrease of 5.2%[22] Operational Changes and Future Plans - The company plans to strengthen its e-commerce live streaming service capabilities and channels to generate new business growth points[2] - The company has restructured its platform to focus on professional services in various categories, including beauty and personal care, health, and food[2] Expenses and Impairments - Research and development expenses for the three months ended September 30, 2023, were RMB 13,879 thousand, down 33.6% from RMB 20,922 thousand in the same period of 2022[24] - The company reported an impairment of intangible assets of RMB 9,945 for the six months ended September 30, 2023, which was not present in the same period of 2022[28] - Share-based compensation expenses decreased to RMB 2,789 for the six months ended September 30, 2023, from RMB 8,836 in the same period of 2022, a reduction of approximately 68.4%[28] - Interest income decreased to RMB 7,142 for the six months ended September 30, 2023, down from RMB 9,013 in the same period of 2022, a decline of approximately 20.8%[28] - The company experienced a loss from investments, netting RMB (1,267) for the six months ended September 30, 2023, compared to a gain of RMB 19,431 in the same period of 2022[28] Adjusted Metrics - Adjusted EBITDA for the six months ended September 30, 2023, was RMB (33,990), compared to RMB (17,135) for the same period in 2022, indicating a decline in performance[28] - Adjusted net loss for the six months ended September 30, 2023, was RMB 32,800, slightly higher than RMB 31,813 for the same period in 2022[28] - EBITDA for the six months ended September 30, 2023, was RMB (45,961), compared to RMB (46,527) for the same period in 2022, showing a marginal improvement[28] - The company recorded depreciation of property and equipment of RMB 3,529 for the six months ended September 30, 2023, an increase from RMB 2,067 in the same period of 2022[28] - Income tax benefits for the six months ended September 30, 2023, were RMB (1,662), compared to RMB (1,086) for the same period in 2022, indicating an increase in tax benefits[28]

Table of Contents Title of each classTrading Symbol(s) Name of each exchange on which registered MOGU The New York Stock Exchange (The New York Stock Exchange) UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Form 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 2023. OR ☐ TRANSITION REPORT PURSU ...

Exhibit 99.1 MOGU Announces Unaudited Financial Results for the Six Months Ended September 30, 2022 HANGZHOU, China, March 3, 2023 /BUSINESS WIRE/ — MOGU Inc. (NYSE: MOGU) ("MOGU" or the "Company"), a KOL-driven online fashion and lifestyle destination in China, today announced its unaudited financial results for the six months ended September 30, 2022. Mr. Chen Qi, Chairman and Chief Executive Officer of MOGU, commented, "In 2022, the Live eCommerce industry faced many challenges, including ongoing macro e ...

MOGU Inc. (NYSE:MOGU) Q1 2022 Results Conference Call August 27, 2021 7:30 AM ET Company Participants Vivian Wang - IR Shark Qi Chen - Chairman and CEO Feng Qi - Financial Controller Conference Call Participants Charlie Chen - China Renaissance Operator Ladies and gentlemen, thank you for standing by, and welcome to the MOGU First Quarter of Fiscal Year 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker’s presentation, there will be a question-and-answ ...

MOGU Inc. (NYSE:MOGU) Q4 2021 Earnings Conference Call May 28, 2021 7:00 AM ET Company Participants Shark Chen Qi - Chairman and CEO Raymond Huang - Chief Strategy Officer Conference Call Participants Sabrina Hu - Jefferies Charlie Chen - China Renaissance Locky Lau - AJ Asset Management Operator Ladies and gentlemen, thank you for standing by and welcome to the MOGU Fourth Quarter and Fiscal Year 2021 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker’s pr ...

MOGU Inc. (NYSE:MOGU) Q3 2021 Results Conference Call February 25, 2021 6:30 AM ET Company Participants Qi Chen - Chairman and CEO Raymond Huang - Chief Strategy Officer Le Li - IR Director Huiqing Wang - Financial Controller Conference Call Participants Charlie Chen - China Renaissance Locky Lau - AJ Asset Management Sabrina Hu - Jefferies Operator Ladies and gentlemen, thank you for standing by, and welcome to MOGU's Third Quarter Fiscal Year 2021 Financial Results. [Operator Instructions] I would now lik ...