Welcome to our dedicated page for Scienjoy Holding news (Ticker: SJ), a resource for investors and traders seeking the latest updates and insights on Scienjoy Holding stock.
Scienjoy Holding Corporation (NASDAQ: SJ) is frequently in the news for developments across interactive entertainment, mobile live streaming, and AI-powered digital human technology. The company describes itself as an interactive entertainment leader in the Chinese market and a Nasdaq-listed issuer, and its press releases highlight both operational performance and product innovation.
News about Scienjoy often covers its financial results, where the company reports metrics such as total revenues, gross profit, gross margin, income from operations, and net income. Management commentary in these releases focuses on the impact of its “live streaming + gaming” ecosystem strategy, the role of high-quality paying users, and the use of artificial intelligence to enhance user experience and operational efficiency.
Another key news theme is Scienjoy’s AI and digital human initiatives. The company has announced AI Vista, an AIGC-driven creative platform, and AI Vista Live!, a next-generation AI performer platform. Coverage includes details on multimodal AI, multi-agent architecture, holographic 3D display systems, and deployments in both consumer and enterprise settings. News items also describe B2B applications of AI Vista Live! in sectors such as healthcare, entertainment, tourism, and public services, along with partnerships like the AI Digital Human Butler project for elderly care facilities.
Scienjoy’s global expansion and capital markets activities also generate headlines. Releases describe the commercial launch of AI Vista Live! in Dubai through Scienjoy Meta Technology L.L.C, client relationships in the United Arab Emirates, and a strategic hub approach to the Middle East and North Africa. In addition, investors follow announcements about Nasdaq minimum bid price notifications, extensions to regain compliance, and the engagement of ICON Capital Group, LLC to explore strategic alternatives. For readers tracking SJ news, this page aggregates these updates in one place.
On June 1, 2022, Scienjoy Holding Corporation (Nasdaq: SJ) announced definitive agreements to enhance its operations in Hangzhou, China, through its subsidiary. This strategic move aims to integrate supply chains and leverage local resources, facilitating growth in live streaming E-Commerce, Multi-Channel Network development, and a Metaverse Ecosystem. The company gains control over several local culture technology firms, tapping into a booming e-commerce live streaming market in Zhejiang province, which achieved RMB609.2 billion in sales in 2021, marking a 124.6% increase year-over-year.
Scienjoy Holding Corporation (Nasdaq: SJ) announced a strategic partnership with MetaU to launch a new NFT exchange platform. This initiative aims to assist artists in transforming traditional artworks into NFTs, providing tools for listing and selling these digital assets. The NFT Experience X program is expected to create numerous opportunities for artists while recovering from the pandemic's impact on the art sector. The exchange platform is scheduled to launch in Q3 or Q4 of 2022, aiming to facilitate transactions using major cryptocurrencies.
Scienjoy Holding Corporation (NASDAQ: SJ) reported significant financial results for the fiscal year 2021, with total net revenues rising by 36.6% to RMB1,669.4 million (US$262.0 million). Gross profit increased by 16.1% to RMB304.5 million (US$47.8 million), but net income fell to RMB170.0 million (US$27.6 million) from RMB176.1 million in 2020. Adjusted net income rose by 17.6% to RMB219.0 million (US$34.4 million). The company reported a decline in paying users, down to 840,640. Looking forward, Scienjoy anticipates revenues between RMB440 million and RMB460 million for Q1 2022.
Scienjoy (Nasdaq: SJ), a prominent Chinese mobile streaming platform, has announced a new initiative called NFT Experience X aimed at funding artists transforming traditional art into NFTs. The program will provide technical support to over 300 artists, creating numerous opportunities for their work in the digital space. This effort comes in response to the pandemic's impact on the art community, with Scienjoy previously launching a gamified NFT auction in New York City and engaging European artists. CEO Victor He emphasized the importance of including independent artists in the emerging NFT market.
Scienjoy Holding Corporation (Nasdaq: SJ) has signed an equity acquisition framework agreement to acquire 100% of Beijing Weiliantong Tech Co., Ltd., owner of Hongle.tv, and Golden Shield Enterprises Limited, holding an NFT business, for a total of RMB280 million (approx. US$43.8 million). The acquisition aims to bolster Scienjoy's live streaming and NFT business. Hongle.tv, targeting ages 18-25, boasts over 42 million users and ranks second in talent shows. The payment includes RMB180 million in shares and RMB100 million in cash, subject to performance conditions.
Scienjoy Holding Corporation (Nasdaq: SJ) announced plans to develop an NFT Blind Box Project in collaboration with Herr Gallery, based on artist Julie Harvey's painting 'Liberty'. Scheduled for launch in Q1 2022, the project will produce 486 NFTs, with auction profits donated to support restoration of Harvey's original mural. This initiative aligns with the booming NFT market, which generated over $23 billion in trading volume in 2021, and aims to strengthen Scienjoy's presence in the NFT space while aiding New York's post-pandemic recovery.
Scienjoy Holding Corporation (NASDAQ: SJ) reported significant growth in its financial results for the nine months ending September 30, 2021. Total net revenues surged by 52.5% to RMB1,171.2 million (US$181.8 million), while net income increased by 7.7% to RMB237.5 million (US$36.9 million). Despite these positive metrics, paying users declined by 10.8% to 648,465. The company anticipates fourth-quarter revenues between RMB393 million and RMB455 million, influenced by current market conditions and potential COVID-19 impacts.
Scienjoy Holding Corporation (Nasdaq: SJ) announced CEO Victor He's interview with Phoenix Television, discussing the company's expansion into the Metaverse and NFTs. Collaborating with Global Friendship Exchange Foundation and Herr Gallery, Scienjoy has received over 100 artist requests for NFT art creation since September. The NFT market reached $10.7 billion in sales volumes in Q3 2021, with Scienjoy's platform boasting 250 million registered users and 300,000 broadcasters. The company aims to enhance user experience through virtual characters and immersive interactions within the livestreaming space.
Scienjoy Holding Corporation (Nasdaq: SJ) participated in NFT.NYC from November 1-4, 2021, a major event for the NFT industry. The event featured key players like Opensea and Christie's, providing Scienjoy valuable networking opportunities. The company's partner, Herr Gallery, successfully launched NFTs on Rarible, marking its entry into the NFT space. Scienjoy continues to enhance its technology offerings to support future NFT drops and aims to develop a Metaverse through AI, AR, and VR technologies, thereby enhancing user experiences.
Scienjoy Holding Corporation (Nasdaq: SJ) announced the successful passage of all shareholder resolutions at its 2021 annual general meeting held on November 8, 2021. Key resolutions included the election of seven board members and the adoption of a dual-class share structure. This structure allows Class A shares to have one vote and Class B shares to have ten votes. Furthermore, the Company authorized the issuance of 50 million Class A Preferred Shares and re-designated existing ordinary shares to Class A, except for a specific number to be converted to Class B shares.
FAQ
What is the current stock price of Scienjoy Holding (SJ)?
What is the market cap of Scienjoy Holding (SJ)?
