Mogu Inc. Cites Material Weaknesses in Internal Financial Controls

Reuters11-13

Mogu Inc. Cites Material Weaknesses in Internal Financial Controls

Mogu Inc., a KOL-driven online fashion and lifestyle company in China, announced a change of auditor, replacing PricewaterhouseCoopers Zhong Tian LLP with Marcum Asia CPAs LLP. The company stated there were no disagreements with the former auditor regarding accounting principles or practices. However, Mogu Inc. disclosed material weaknesses in its internal control over financial reporting, including insufficient personnel with U.S. GAAP and SEC reporting expertise, inadequate controls over reconciliation of account balances, and lack of periodic review of high-risk activities. These issues have been discussed with the company's audit committee and the former auditor.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Mogu Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 20251113514038) on November 13, 2025, and is solely responsible for the information contained therein.

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