MOGU operates a Chinese social commerce platform under the Mogujie brand, focusing on fashion and lifestyle products for young women. The company connects merchants with consumers through a network of Key Opinion Leaders (KOLs) who host live video broadcasts (LVBs). These broadcasts serve as the core shopping experience, allowing viewers to purchase items directly within the interface in real time. Beyond fashion apparel, MOGU offers beauty, personal care, and household goods. The company generates revenue as an intermediary through transaction commissions, marketing services, and talent management for LVB hosts. MOGU also provides technology services for digital marketing and financial services such as consumer financing and merchant loans. The business relies on the volume of LVB content and the engagement of its user base. To support its operations, MOGU recruits and trains hosts through internal incubation programs to ensure a steady supply of content creators. The company’s strategy includes diversifying into AI infrastructure and digital assets, including Bitcoin and Ethereum, to enable future AI-driven products. MOGU also maintains corporate real estate in Hangzhou to support its physical operations.