(Yicai Global) May 31 -- Shares in Mogu slumped overnight in the US after the Tencent-backed e-commerce platform reported stagnant active user growth since going public in December.

Stocks [NYSE:MOGU] in the Mogujie operator closed 5.43 percent lower overnight at USD4.70, while the Dow Jones Industrial and Nasdaq markets fell 0.17 percent and 0.27 percent, respectively. 

The shopping platform aimed at women narrowed its net loss by 12 percent annually to CNY486.3 million (USD70.5 million) in the fiscal year, according to the Hangzhou-based firm's annual report released yesterday. Revenue rose 10.4 percent to CNY1.1 billion (USD159.4 million).

Increased stock incentives were a major cause of the loss, while general and administrative expenses rose by over two-thirds to CNY168 million.

Monthly active users of the firm's mobile streaming jumped by 42.1 percent in the year but yearly active users fell nearly 5 percent to 32.8 million. 

The platform's gross merchandise volume increased 18.7 percent to CNY17.4 billion as of the end of March, while the GMV from streaming more than doubled. 

Mogu went public in New York last year with Hillhouse Capital, Gaorong Capital, Bertelsmann Asia Investments and other well-known investors supporting the fundraising. Tencent holds 18 percent of the company's shares.