MOGU Inc. (NYSE:MOGU) ("MOGU" or the "Company"), a KOL-driven online fashion and lifestyle destination in China, today announced that its indirect wholly owned subsidiary, Hangzhou Shiqu Information and Technology Co., Ltd., entered into a share transfer agreement to acquire less than 1% of the registered capital in a China-based artificial intelligence infrastructure technology company for a total consideration of RMB 0.1 billion (equivalent to approximately US$14.2 million).

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About MOGU Inc.

MOGU Inc. (NYSE:MOGU) is a 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.

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For investor and media inquiries, please contact:

MOGU Inc.

Ms. Qi Feng

Phone: +86-571-8530-8201

E-mail: ir@mogu.com

Christensen

In China

Mr. Christian Arnell

Phone: +852-2117-0861

E-mail: christian.arnell@christensencomms.com

In the United States

Ms. Linda Bergkamp

Phone: +1-480-614-3004

Email: linda.bergkamp@christensencomms.com