Mogu is one of my favorite risky Chinese gambles right now.  Essentially they're a fashion company that's recently shifted its lifestyle/fashion business to a live streaming format where customers can view fashion items in real time, comment and even purchase. This company is backed by Tencent which speaks to its potential but again, it's pretty risky. See the video below for an example of their streaming service:

youtu.be/s3USHPlbPMg