Mogu Inc., a KOL-driven online fashion and lifestyle destination in China, reported its financial results for the fiscal year ending March 31, 2025. The company experienced a decline in commission revenues, which fell to RMB 74.7 million (approximately USD 10.3 million), representing a decrease from RMB 109.7 million in 2024 and RMB 147.5 million in 2023. This represents a reduction in commission revenue share from 63.6% in 2023 to 52.9% in 2025. Financing solutions revenues also decreased to RMB 7.9 million (around USD 1.1 million) from RMB 10.3 million in 2024 and RMB 12.9 million in 2023, maintaining its contribution to total revenues at 5.6%. The company's Gross Merchandise Volume $(GMV.AU)$ associated with Live Video Broadcasts (LVB) also saw a significant decrease, dropping from RMB 5.9 billion in 2023 to RMB 3.5 billion in 2025. The number of active buyers through LVB fell from 1.6 million to 0.9 million over the same period. The company did not provide specific future guidance or outlook in the report. Mogu Inc. continues to monitor its operational metrics, including GMV and active buyers through LVB, as indicators of business performance.