{"id":517826,"date":"2021-07-26T18:03:07","date_gmt":"2021-07-26T22:03:07","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/mogu-inc-announces-entry-into-definitive-agreements-to-increase-ownership-of-hangzhou-ruisha\/"},"modified":"2021-07-26T18:03:07","modified_gmt":"2021-07-26T22:03:07","slug":"mogu-inc-announces-entry-into-definitive-agreements-to-increase-ownership-of-hangzhou-ruisha","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/mogu-inc-announces-entry-into-definitive-agreements-to-increase-ownership-of-hangzhou-ruisha\/","title":{"rendered":"MOGU Inc. Announces Entry into Definitive Agreements to Increase Ownership of Hangzhou Ruisha"},"content":{"rendered":"

<\/p>\n

MOGU Inc. Announces Entry into Definitive Agreements to Increase Ownership of Hangzhou Ruisha<\/b><\/p>\n

HANGZHOU, China–(BUSINESS WIRE<\/a>)–
\nMOGU Inc. (NYSE: MOGU) (\u201cMOGU\u201d or the \u201cCompany\u201d), a leading KOL-driven online fashion and lifestyle destination in China, today announced that Hangzhou Juangua Network Co., Ltd. (\u201cHangzhou Juangua<\/b>\u201d), a consolidated affiliated entity of the Company, has entered into definitive agreements with Hangzhou Ruisha Technology Co., Ltd. (\u201cHangzhou Ruisha<\/b>\u201d), Hangzhou Ruisha\u2019s existing shareholder and Hangzhou Ruisha\u2019s founder, to increase and obtain controlling equity interests in Hangzhou Ruisha.\n<\/p>\n

\nUnder 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.\n<\/p>\n

\nHangzhou 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.\n<\/p>\n

\nMr. Qi Chen, MOGU\u2019s chairman and chief executive officer, commented, \u201cThe investment in Hangzhou Ruisha represents continuingly expanded and utilized capabilities of MOGU to provide services for business customers. Hangzhou Ruisha\u2019s 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\u2019s development towards a more extensive ecosystem for live video broadcast e-commerce.\u201d\n<\/p>\n

About MOGU Inc.<\/b><\/p>\n

\nMOGU 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\u2019s 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.\n<\/p>\n

Safe Harbor Statement<\/b><\/p>\n

\nThis announcement contains forward-looking statements. These statements are made under the \u201csafe harbor\u201d provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as \u201cwill,\u201d \u201cexpects,\u201d \u201canticipates,\u201d \u201cfuture,\u201d \u201cintends,\u201d \u201cplans,\u201d \u201cbelieves,\u201d \u201cestimates\u201d 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 \u201cSEC\u201d), 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\u2019s 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.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210726005543\/en\/<\/a><\/span><\/p>\n

For investor and media inquiries, please contact:<\/b><\/p>\n

\nMOGU Inc.\n<\/p>\n

\nMs. Jiemo Feng
\n
Phone: +86-571-8530-8201
\n
E-mail: ir@mogu.com<\/a><\/p>\n

\nChristensen\n<\/p>\n

\nIn China
\n
Mr. Eric Yuan
\n
Phone: +86-10-5900-1548
\n
E-mail: eyuan@christensenir.com<\/a><\/p>\n

\nIn the United States
\n
Ms. Linda Bergkamp
\n
Phone: +1-480-614-3004
\n
E-mail: lbergkamp@christensenir.com<\/a><\/p>\n

KEYWORDS:<\/b> China Asia Pacific<\/p>\n

INDUSTRY KEYWORDS:<\/b> Fashion Online Retail Retail Other Retail Technology Other Technology Internet<\/p>\n

MEDIA:<\/b><\/p>\n\n","protected":false},"excerpt":{"rendered":"

MOGU Inc. Announces Entry into Definitive Agreements to Increase Ownership of Hangzhou Ruisha HANGZHOU, China–(BUSINESS WIRE)– MOGU Inc. (NYSE: MOGU) (\u201cMOGU\u201d or the \u201cCompany\u201d), a leading KOL-driven online fashion and lifestyle destination in China, today announced that Hangzhou Juangua Network Co., Ltd. (\u201cHangzhou Juangua\u201d), a consolidated affiliated entity of the Company, has entered into definitive agreements with Hangzhou Ruisha Technology Co., Ltd. (\u201cHangzhou Ruisha\u201d), Hangzhou Ruisha\u2019s existing shareholder and Hangzhou Ruisha\u2019s 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 … <\/p>\n

Continue reading “MOGU Inc. Announces Entry into Definitive Agreements to Increase Ownership of Hangzhou Ruisha”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-517826","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nMOGU Inc. Announces Entry into Definitive Agreements to Increase Ownership of Hangzhou Ruisha - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/mogu-inc-announces-entry-into-definitive-agreements-to-increase-ownership-of-hangzhou-ruisha\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MOGU Inc. Announces Entry into Definitive Agreements to Increase Ownership of Hangzhou Ruisha - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"MOGU Inc. Announces Entry into Definitive Agreements to Increase Ownership of Hangzhou Ruisha HANGZHOU, China–(BUSINESS WIRE)– MOGU Inc. (NYSE: MOGU) (\u201cMOGU\u201d or the \u201cCompany\u201d), a leading KOL-driven online fashion and lifestyle destination in China, today announced that Hangzhou Juangua Network Co., Ltd. (\u201cHangzhou Juangua\u201d), a consolidated affiliated entity of the Company, has entered into definitive agreements with Hangzhou Ruisha Technology Co., Ltd. (\u201cHangzhou Ruisha\u201d), Hangzhou Ruisha\u2019s existing shareholder and Hangzhou Ruisha\u2019s 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 … Continue reading "MOGU Inc. 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