MOGU (NYSE:MOGU) said it has entered into a share transfer agreement to acquire a minority equity interest in a China-based artificial intelligence infrastructure technology company, marking a strategic move into the AI sector.
The Beijing-based online fashion and lifestyle platform, which trades on the New York Stock Exchange under the ticker MOGU, said the transaction will be carried out through its indirect wholly owned subsidiary, Hangzhou Shiqu Information and Technology Co., Ltd.
Under the agreement, the subsidiary will acquire less than 1% of the target company’s registered capital for a total consideration of RMB0.1 billion, equivalent to approximately $14.2 million.
MOGU described the investment as part of its broader effort to explore opportunities at the intersection of technology and digital commerce.
The company operates a KOL-driven platform in China, leveraging influencers to connect consumers with fashion and lifestyle products, and has increasingly emphasized technology-driven enhancements to its ecosystem.