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Scienjoy Holding Corporation Reports Second Quarter and First Half 2025 Unaudited Financial Results

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Scienjoy (NASDAQ: SJ), a Chinese interactive entertainment company, reported mixed Q2 and H1 2025 financial results. For Q2 2025, total revenues decreased to RMB349.0 million (US$48.7M) from RMB374.8M in Q2 2024, while net income fell to RMB22.7 million (US$3.2M) from RMB33.4M year-over-year.

The company's H1 2025 performance showed total revenues of RMB656.4 million (US$91.6M), down from RMB691.1M in H1 2024. Despite revenue decline, gross margin improved to 18.8% from 17.0%. The company maintained strong liquidity with RMB298.5 million (US$41.7M) in cash, an increase of RMB46.0M from December 2024.

Scienjoy continues advancing its 'live streaming + gaming' strategy, focusing on AI technology development through AI Vista and expanding globally with AI Performer technology for digital humans.

Scienjoy (NASDAQ: SJ), società cinese di intrattenimento interattivo, ha comunicato risultati finanziari contrastanti per il 2° trimestre e il primo semestre 2025. Nel Q2 2025 i ricavi totali sono scesi a RMB349,0 milioni (US$48,7M) rispetto a RMB374,8M nel Q2 2024, mentre l'utile netto è diminuito a RMB22,7 milioni (US$3,2M) da RMB33,4M su base annua.

Nel primo semestre 2025 i ricavi totali si sono attestati a RMB656,4 milioni (US$91,6M), in calo rispetto a RMB691,1M nel H1 2024. Nonostante la flessione dei ricavi, il margine lordo è migliorato al 18,8% da 17,0%. La società mantiene una solida liquidità con RMB298,5 milioni (US$41,7M) di cassa, in aumento di RMB46,0M rispetto a dicembre 2024.

Scienjoy prosegue con la strategia «live streaming + gaming», puntando allo sviluppo di tecnologie AI tramite AI Vista e all'espansione internazionale con AI Performer per esseri digitali.

Scienjoy (NASDAQ: SJ), una empresa china de entretenimiento interactivo, presentó resultados financieros mixtos en el 2T y el 1S de 2025. En el 2T 2025 los ingresos totales cayeron a RMB349,0 millones (US$48,7M) desde RMB374,8M en el 2T 2024, y el beneficio neto se redujo a RMB22,7 millones (US$3,2M) desde RMB33,4M interanual.

En el 1S 2025 los ingresos totales fueron de RMB656,4 millones (US$91,6M), frente a RMB691,1M en el 1S 2024. A pesar de la caída de ingresos, el margen bruto mejoró al 18,8% desde 17,0%. La compañía mantiene una sólida liquidez con RMB298,5 millones (US$41,7M) en efectivo, un aumento de RMB46,0M respecto a diciembre de 2024.

Scienjoy sigue avanzando en su estrategia de «streaming en vivo + gaming», enfocándose en el desarrollo de tecnología IA a través de AI Vista y en la expansión global con AI Performer para humanos digitales.

Scienjoy (NASDAQ: SJ), 중국의 인터랙티브 엔터테인먼트 기업이 2025년 2분기 및 상반기 실적을 발표했습니다. 2025년 2분기 총매출은 RMB349.0백만(US$48.7M)으로 2024년 2분기의 RMB374.8M에서 감소했고, 순이익은 연간 기준으로 RMB22.7백만(US$3.2M)으로 RMB33.4M에서 떨어졌습니다.

2025년 상반기 실적은 총매출 RMB656.4백만(US$91.6M)으로 2024년 상반기 RMB691.1M보다 감소했습니다. 매출은 줄었지만 총이익률은 18.8%로 17.0%에서 개선되었습니다. 회사는 현금성 자산 RMB298.5백만(US$41.7M)을 보유해 2024년 12월 대비 RMB46.0M 증가하며 양호한 유동성을 유지하고 있습니다.

Scienjoy는 '라이브 스트리밍 + 게임' 전략을 지속 추진하며 AI Vista를 통한 AI 기술 개발과 디지털 휴먼용 AI Performer 기술을 통한 글로벌 확장에 주력하고 있습니다.

Scienjoy (NASDAQ: SJ), société chinoise de divertissement interactif, a publié des résultats financiers mitigés pour le T2 et le 1er semestre 2025. Au T2 2025, le chiffre d'affaires total a diminué à RMB349,0 millions (US$48,7M) contre RMB374,8M au T2 2024, et le résultat net est tombé à RMB22,7 millions (US$3,2M) contre RMB33,4M en glissement annuel.

Pour le 1er semestre 2025, le chiffre d'affaires total s'élève à RMB656,4 millions (US$91,6M), en baisse par rapport à RMB691,1M au S1 2024. Malgré la baisse du chiffre d'affaires, la marge brute s'est améliorée à 18,8% contre 17,0%. La société conserve une solide liquidité avec RMB298,5 millions (US$41,7M) de trésorerie, soit une augmentation de RMB46,0M depuis décembre 2024.

Scienjoy poursuit sa stratégie « live streaming + gaming », en misant sur le développement de l'IA via AI Vista et l'expansion internationale avec la technologie AI Performer pour humains numériques.

Scienjoy (NASDAQ: SJ), ein chinesisches Unternehmen für interaktive Unterhaltung, hat gemischte Finanzergebnisse für Q2 und H1 2025 gemeldet. Im 2. Quartal 2025 sanken die Gesamterlöse auf RMB349,0 Millionen (US$48,7M) gegenüber RMB374,8M im 2Q 2024, und der Jahresüberschuss fiel auf RMB22,7 Millionen (US$3,2M) von RMB33,4M.

Für das erste Halbjahr 2025 beliefen sich die Gesamterlöse auf RMB656,4 Millionen (US$91,6M), nach RMB691,1M im H1 2024. Trotz rückläufiger Umsätze verbesserte sich die Bruttomarge auf 18,8% gegenüber 17,0%. Das Unternehmen verfügt über eine starke Liquidität mit RMB298,5 Millionen (US$41,7M) an Barmitteln, ein Anstieg um RMB46,0M seit Dezember 2024.

Scienjoy treibt seine Strategie „Live-Streaming + Gaming“ weiter voran, konzentriert sich auf die KI-Entwicklung durch AI Vista und auf die weltweite Expansion mit der AI Performer-Technologie für digitale Personen.

Positive
  • Gross margin increased to 18.8% in H1 2025 from 17.0% in H1 2024
  • Cash reserves increased by RMB46.0M to RMB298.5M
  • Higher ARPPU (Average Revenue Per Paying User) showing improved user monetization
  • Government subsidies increased, boosting other income by 1,218.6% to RMB9.1M
Negative
  • Total revenues declined 6.9% YoY to RMB349.0M in Q2 2025
  • Net income decreased 32% YoY to RMB22.7M in Q2 2025
  • Total paying users dropped to 165,239 from 189,860 YoY in Q2
  • RMB31.1M loss from investment in marketable securities in H1 2025

Insights

Scienjoy reports declining revenues and profits despite improved margins; significant drop in net income primarily due to investment losses.

Scienjoy's Q2 2025 results reveal a mixed performance with several concerning trends. Total revenues declined to RMB349.0 million (US$48.7 million), a 6.9% decrease year-over-year. This decline stems from a 13.0% reduction in paying users (down to 165,239 from 189,860), highlighting intensifying competition in China's mobile live streaming market.

Despite revenue contraction, gross margin improved to 18.2% from 17.3% year-over-year, indicating more efficient monetization of remaining users and better cost management of revenue sharing fees. However, operating expenses increased by 11.8%, primarily driven by higher professional consulting fees and increased sales and marketing activities.

The most concerning aspect is the substantial decline in net income, which fell to RMB22.7 million (US$3.2 million) from RMB33.4 million in Q2 2024, a 32.0% decrease. This decline was primarily caused by a RMB13.7 million negative swing in investment valuation – from a RMB7.0 million gain last year to a RMB6.8 million loss this quarter.

First half results show a similar pattern with a 4.6% increase in gross profit despite revenue decline, but a dramatic 73.2% drop in net income (from RMB36.2 million to RMB9.7 million). This precipitous decline stems mainly from a RMB34.9 million negative swing in investment fair value.

Cash position improved to RMB298.5 million (US$41.7 million), up RMB46.0 million from December 2024, providing liquidity for the company's strategic initiatives including AI Vista, its AIGC-driven creative community, and international expansion.

The company's strategic pivot toward a "live streaming + gaming" ecosystem with AI technology integration shows management's recognition of the need to differentiate in a competitive market. However, the significant impact of investment losses on bottom-line results raises questions about the company's investment strategy and potential volatility in future earnings.

BEIJING, Aug. 27, 2025 /PRNewswire/ -- Scienjoy Holding Corporation ("Scienjoy", the "Company", or "we") (NASDAQ: SJ), an interactive entertainment leader in the Chinese market, today announced its financial results for the second quarter and first half of fiscal year 2025 ended June 30, 2025. 

Second Quarter 2025 Operating and Financial Summaries 

  • Total revenues decreased to RMB349.0 million (US$48.7 million) for the three months ended June 30, 2025 from RMB374.8 million in the same period of 2024.
  • Gross profit decreased to RMB63.7 million (US$8.9 million) for the three months ended June 30, 2025 from RMB64.7 million in the same period of 2024. Gross margin increased to 18.2% for the three months ended June 30, 2025 from 17.3% in the same period of 2024.
  • Income from operations decreased to RMB23.3 million (US$3.2 million) for the three months ended June 30, 2025 from RMB28.6 million in the same period of 2024.
  • Net income decreased to RMB22.7 million (US$3.2 million) for the three months ended June 30, 2025 from RMB33.4 million in the same period of 2024. This is mainly due to RMB 13.7 million decrease in change in fair value of investment in a publicly traded company.
  • Net income attributable to the Company's shareholders decreased to RMB22.6 million (US$3.2 million) for the three months ended June 30, 2025 from RMB35.3 million in the same period of 2024.
  • Adjusted net income attributable to the Company's shareholders decreased to RMB24.9 million (US$3.5 million) for the three months ended June 30, 2025 from RMB38.5 million in the same period of 2024.

First Half 2025 Operating and Financial Summaries

  • Total revenues decreased to RMB656.4 million (US$91.6 million) for the six months ended June 30, 2025 from RMB691.1 million in the same period of 2024.
  • Gross profit increased by 4.6% to RMB123.2 million (US$17.2 million) for the six months ended June 30, 2025 from RMB117.8 million in the same period of 2024. Gross margin increased to 18.8% for the six months ended June 30, 2025 from 17.0% in the same period of 2024.
  • Income from operations decreased to RMB37.0 million (US$5.2 million) for the six months ended June 30, 2025 from RMB38.9 million in the same period of 2024.
  • Net income decreased to RMB9.7 million (US$1.4 million) for the six months ended June 30, 2025 from RMB36.2 million in the same period of 2024. This is mainly due to RMB 34.9 million decrease in change in fair value of investment in a publicly traded company.
  • Net income attributable to the Company's shareholders decreased to RMB13.5 million (US$1.9 million) for the six months ended June 30, 2025 from RMB41.9 million in the same period of 2024.
  • Adjusted net income attributable to the Company's shareholders decreased to RMB19.4 million (US$2.7 million) for the six months ended June 30, 2025 from RMB47.5 million in the same period of 2024.
  • As of June 30, 2025, the Company had RMB298.5 million (US$41.7 million) in cash and cash equivalents, which represented an increase of RMB46.0 million from RMB252.5 million as of December 31, 2024.

Mr. Victor He, Chairman and Chief Executive Officer of Scienjoy, commented, "In the first half of 2025, we have been advancing our 'live streaming + gaming' ecosystem strategy in line with our roadmap, reinforcing steady growth and achieving new breakthroughs in our core business. To further consolidate our live broadcast operations, we focused on retaining high-quality broadcasters, attracting new talents, enhancing content and improving user experience through innovative technologies such as AI and big data tools. Leveraging our expertise and competitive advantages, we are confident in establishing a sustainable and clearly differentiated model that delivers an unparalleled gaming experience while broadening the industry landscape.

We are particularly encouraged by the progress of AI Vista, our AIGC-driven creative community. By the end of Q2, the app had accumulated a vast number of AI-generated images and videos created through our growing library of styles and templates. This performance reflects the strength of our product roadmap and our ability to deliver differentiated user experiences.

Additionally, we remain firmly committed to our global expansion strategy, focusing resources on new markets to broaden our user base and diversify revenue streams. We will further enhance our business with our AI Performer technology — enabling real-time, interactive digital humans designed for both consumer and enterprise applications.

Looking ahead, we will continue to steadily and methodically scale our live streaming business, AI Vista, Beelive, and global content businesses around a unifying theme: 'AI for Everyday Life.' We are confident these initiatives will deliver durable returns and further strengthen the foundation for sustainable, profitable growth."

Mr. Denny Tang, Chief Financial Officer of Scienjoy, added, "Our first-half 2025 results underscore both strategic resilience and financial discipline. Higher gross margin confirm that tighter cost controls and a refined, high-value user mix continue to drive operating efficiency. The decline in net income is purely the result of the accounting impact of the investment revaluation and does not affect cash generation or day-to-day operations.

With cash reserves increasing, we retain ample liquidity to fund innovation and expansion. Going forward, we strive to stay focused on executing our strategic priorities and investing in content, technology, and global reach to deliver high-quality growth and long-term shareholder value."

Second Quarter 2025 Financial Results

Total revenues decreased to RMB349.0 million (US$48.7 million) for the three months ended June 30, 2025 from RMB374.8 million in the same period of 2024, primarily caused by a decrease in paying users due to competitive landscape of China's mobile live streaming market. Total paying users were 165,239 for the three months ended June 30, 2025, as compared to 189,860 in the same period of 2024.

Cost of revenues decreased to RMB285.4 million (US$39.8 million) for the three months ended June 30, 2025 from RMB310.1 million in the same period of 2024. The decrease was primarily attributable to a decrease of RMB33.1 million in the Company's revenue sharing fees, partially offset by an increase of RMB7.6 million in the Company's user acquisition costs.

Gross profit decreased to RMB63.7 million (US$8.9 million) for the three months ended June 30, 2025 from RMB64.7 million in the same period of 2024. Gross margin increased to 18.2% for the three months ended June 30, 2025 from 17.3% in the same period of 2024 due to higher average live streaming revenue per paying user ("ARPPU") and lower revenue sharing fees during the three months ended June 30, 2025, showing the Company's effectiveness in converting high-quality paying user to its gross margin growth.

Total operating expenses increased by 11.8% to RMB40.4 million (US$5.6 million) for the three months ended June 30, 2025 from RMB36.1 million in the same period of 2024.

  • Sales and marketing expenses increased by 587.3% to RMB1.3 million (US$0.2 million) for the three months ended June 30, 2025 from RMB0.2 million in the same period of 2024, primarily attributable to more sales and marketing activities.
  • General and administrative expenses increased by 26.3% to RMB21.0 million (US$2.9 million) for the three months ended June 30, 2025 from RMB16.7 million in the same period of 2024, primarily caused by an increase of RMB4.1 million in professional consulting fee.
  • Research and development expenses decreased to RMB17.4 million (US$2.4 million) from RMB17.5 million for the three months ended June 30, 2025 and 2024.
  • Provision for credit losses decreased to RMB0.6 million (US$0.1 million) for the three months ended June 30, 2025 from RMB1.8 million in the same period of 2024 due to improvement of collection in the second quarter of 2025.

Income from operations decreased to RMB23.3 million (US$3.2 million) for the three months ended June 30, 2025 from RMB28.6 million in the same period of 2024.

Change in fair value of investment in marketable security was a loss of RMB6.8 million (US$0.9 million) for the three months ended June 30, 2025, as compared with a gain of RMB7.0 million in the same period of 2024. The change was primarily attributable to the fair value changes in investments in a publicly traded company. 

Investment loss decreased to RMB0.6 million (US$0.1 million) for the three months ended June 30, 2025 from RMB1.1 million in the same period of 2024. The investment loss was primarily attributable to one-time share of unrealized loss in the long-term investments. 

Interest income, net increased by 1.8% to RMB0.5 million for the three months ended June 30, 2025 from RMB0.4 million in the same period of 2024. The increase was primarily due to increased cash balance.

Other income, net increased by 1,228.5% to RMB7.6 million for the three months ended June 30, 2025 from RMB0.6 million in the same period of 2024. The increase was primarily due to increased government subsidies. There is no assurance that the Company will continue to receive these subsidies in the future.

Foreign exchange loss, net was RMB1.6 million (US$0.2 million) for the three months ended June 30, 2025, as compared to a foreign exchange gain of RMB1.0 million in the same period of 2024.

Income tax benefit was RMB0.3 million (US$0.04 million) for the three months ended June 30, 2025, as compared to an income tax expense of RMB3.0 million in the same period of 2024.

Net income decreased to RMB22.7 million (US$3.2 million) for the three months ended June 30, 2025 from RMB33.4 million in the same period of 2024 as a result of the foregoing.

Net income attributable to the Company's shareholders decreased to RMB22.6 million (US$3.2 million) for the three months ended June 30, 2025 from RMB35.3 million in the same period of 2024.

Adjusted net income attributable to the Company's shareholders decreased to RMB24.9 million (US$3.5 million) for the three months ended June 30, 2025 from RMB38.5 million in the same period of 2024. 

Basic and diluted net income per ordinary share was RMB0.54 (US$0.08) and RMB0.54 (US$0.08) for the three months ended June 30, 2025, respectively. In comparison, basic and diluted net income per ordinary share was RMB0.86 and RMB0.85 in the same period of 2024, respectively.

Adjusted basic and diluted net income per ordinary share was RMB0.60 (US$0.08) and RMB0.60 (US$0.08) for the three months ended June 30, 2025, respectively. In comparison, adjusted basic and diluted net income per ordinary share was RMB0.94 and RMB0.93 in the same period of 2024, respectively.

First Half 2025 Financial Results

Total net revenues decreased to RMB656.4 million (US$91.6 million) for the six months ended June 30, 2025 from RMB691.1 million in the same period of 2024, primarily caused by decrease of paying users due to competitive landscape of China's mobile live streaming market. Total paying users were 253,888 for the six months ended June 30, 2025, compared to 284,076 in the same period of 2024. 

Cost of revenues decreased to RMB533.2 million (US$74.4 million) for the six months ended June 30, 2025 from RMB573.3 million in the same period of 2024. The decrease was primarily attributable to a decrease of RMB56.0 million in the Company's revenue sharing fees, partially offset by an increase of RMB14.6 million in the Company's user acquisition costs. 

Gross profit increased by 4.6% to RMB123.2 million (US$17.2 million) for the six months ended June 30, 2025 from RMB117.8 million in the same period of 2024. The gross margin increased to 18.8% for the six months ended June 30, 2025 from 17.0% in the same period of 2024 due to higher ARPPU and lower revenue sharing fees during the six months ended June 30, 2025, showing the Company's effectiveness in converting high-quality paying user to its profit growth.

Total operating expenses increased by 9.2% to RMB86.2 million (US$12.0 million) for the six months ended June 30, 2025 from RMB78.9 million in the same period of 2024.

  • Sales and marketing expenses increased by 56.7% to RMB3.4 million (US$0.5 million) for the six months ended June 30, 2025 from RMB2.2 million in the same period of 2024, primarily attributable to more sales and marketing activities.
  • General and administrative expenses increased by 21.3% to RMB44.4 million (US$6.2 million) for the six months ended June 30, 2025 from RMB36.6 million in the same period of 2024. The increase was primarily due to an increase of RMB6.9 million in professional consulting fee and RMB2.7 million in employee salary and welfare, partially offset by a decrease of RMB0.6 million in entertainment expenses and a decrease of RMB0.5 million in share-based compensation.
  • Research and development expenses decreased to RMB37.0 million (US$5.2 million) from RMB39.1 million for the six months ended June 30, 2025 and 2024, due to a decrease of RMB4.8 million in employee salary and welfare, offset by an increase of RMB2.4 million in technical service fee.
  • Provision for credit losses increased by 24.3% to RMB1.4 million (US$0.2 million) for the six months ended June 30, 2025 from RMB1.1 million in the same period of 2024, due to overall slow collection for the six months ended June 30, 2025.

Income from operations decreased to RMB37.0 million (US$5.2 million) for the six months ended June 30, 2025 from RMB38.9 million in the same period of 2024.

Change in fair value of investment in marketable security was a loss of RMB31.1 million (US$4.3 million) for the six months ended June 30, 2025, as compared with a gain of RMB3.8 million in the same period of 2024. The change was primarily attributable to the fair value changes in investments in publicly traded company. 

Investment loss decreased to RMB1.0 million (US$0.1 million) for the six months ended June 30, 2025 from RMB3.4 million in the same period of 2024. The investment loss was primarily attributable to one-time share of unrealized loss in the long-term investments. 

Interest income, net decreased to RMB1.0 million (US$0.1million) for the six months ended June 30, 2025 from RMB2.4 million in the same period of 2024. The decrease was primarily due to lower interest rate.

Other income, net increased by 1,218.6% to RMB9.1 million (US$1.3 million) for the six months ended June 30, 2025 from RMB0.7 million in the same period of 2024. The increase was primarily due to increased government subsidies and one-time compensation income. There is no assurance that the Company will continue to receive these subsidies in the future.

Foreign exchange loss, net was RMB2.6 million (US$0.4 million) for the six months ended June 30, 2025, as compared to foreign exchange gain of RMB1.5 million in the same period of 2024.

Income tax expense decreased to RMB2.6 million for the six months ended June 30, 2025 from RMB7.7 million in the same period of 2024 due to decreased taxable income. 

Net income decreased to RMB9.7 million (US$1.4 million) for the six months ended June 30, 2025 from of RMB36.2 million in the same period of 2024 as a result of the foregoing. 

Net income attributable to the Company's shareholders decreased to RMB13.5 million (US$1.9 million) for the six months ended June 30, 2025 from RMB41.9 million in the same period of 2024.

Adjusted net income attributable to the Company's shareholders decreased to RMB19.4 million (US$2.7 million) for the six months ended June 30, 2025 from RMB47.5 million in the same period of 2024. 

Basic and diluted net income per ordinary share was RMB0.32 (US$0.05) and RMB0.32 (US$0.05) for the six months ended June 30, 2025, respectively. In comparison, basic and diluted net income per ordinary share was RMB1.02 and RMB1.01 in the same period of 2024, respectively.

Adjusted basic and diluted net income per ordinary share was RMB0.47 (US$0.07) and RMB0.47 (US$0.07) for the six months ended June 30, 2025, respectively. In comparison, adjusted basic and diluted net income per ordinary share was RMB1.16 and RMB1.15 in the same period of 2024, respectively.

As of June 30, 2025, the Company had cash and cash equivalent balance of RMB298.5 million (US$41.7 million), which represented an increase of RMB46.0 million from RMB252.5 million as of December 31, 2024. 

About Scienjoy Holding Corporation

Scienjoy is a pioneering Nasdaq-listed interactive entertainment leader. Driven by the vision of shaping a metaverse lifestyle, Scienjoy leverages AI-powered technology to create immersive experiences that resonate with global audiences, fostering meaningful connections and redefining entertainment. For more information, please visit http://ir.scienjoy.com/.

Use of Non-GAAP Financial Measures

Adjusted net income is calculated as net income adjusted for change in fair value of contingent consideration, change in fair value of warrant liability and share based compensation. Adjusted basic and diluted net income per ordinary share is non-GAAP net income (loss) attributable to ordinary shareholders divided by weighted average number of ordinary shares used in the calculation of non-GAAP basic and diluted net income per ordinary share. The non-GAAP financial measures are presented to enhance investors' overall understanding of the Company's financial performance and should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with U.S. GAAP. Investors are encouraged to review the reconciliation of the historical non-GAAP financial measures to its most directly comparable GAAP financial measures. As non-GAAP financial measures have material limitations as analytical metrics and may not be calculated in the same manner by all companies, they may not be comparable to other similarly titled measures used by other companies. In light of the foregoing limitations, you should not consider non-GAAP financial measures as a substitute for, or superior to, such metrics in accordance with US GAAP.

For more information on these non-GAAP financial measures, please see the table captioned "Reconciliations of Non-GAAP Results" near the end of this release.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB7.1636 to US$1.00, the noon buying rate in effect on June 30, 2025, in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB amounts could have been, or could be, converted, realized or settled in U.S. dollars at that rate on June 30, 2025, or at any other rate.

Safe Harbor Statement

Certain statements made in this release are "forward looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: the ability to manage growth; ability to identify and integrate other future acquisitions; ability to obtain additional financing in the future to fund capital expenditures; fluctuations in general economic and business conditions; costs or other factors adversely affecting our profitability; litigation involving patents, intellectual property, and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in the Company's filings with the Securities and Exchange Commission ("SEC") from time to time. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Such information speaks only as of the date of this release.

For investor and media inquiries, please contact:

Investor Relations Contacts

Denny Tang
Chief Financial Officer
Scienjoy Holding Corporation
+86-10-64428188
ir@scienjoy.com

Ascent Investor Relations LLC

Tina Xiao
+1-646-932-7242
investors@ascent-ir.com

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS


(All amounts in thousands, except share and per share data or otherwise stated)






As of
December 31,



As of
June 30,




2024



2025



2025




RMB



RMB



US$


ASSETS










Current assets










Cash and cash equivalents



252,540




298,490




41,668


Accounts receivable, net



226,060




222,704




31,088


Prepaid expenses and other current assets



28,415




29,080




4,059


Amounts due from related parties



-




100




14


Investment in marketable security



37,629




6,537




913


Total current assets



544,644




556,911




77,742















Non-current assets













Property and equipment, net



1,981




1,507




210


Intangible assets, net



405,256




401,786




56,087


Goodwill



182,661




183,138




25,565


Long term investments



257,387




262,214




36,604


Long term deposits and other assets



906




839




117


Right-of-use assets-operating lease



4,845




17,795




2,484


Deferred tax assets



7,505




7,613




1,063


Total non-current assets



860,541




874,892




122,130


TOTAL ASSETS



1,405,185




1,431,803




199,872















LIABILITIES AND SHAREHOLDERS' EQUITY













Current liabilities













Accounts payable



36,015




39,041




5,450


Accrued salary and employee benefits



22,346




10,382




1,449


Accrued expenses and other current liabilities



6,840




4,602




642


Income tax payable



11,284




12,364




1,726


Lease liabilities-operating lease -current



4,098




4,612




644


Deferred revenue



80,186




89,198




12,452


Total current liabilities



160,769




160,199




22,363















Non-current liabilities













Deferred tax liabilities



58,400




57,691




8,053


Lease liabilities-operating lease -non-current



700




11,956




1,669


Total non-current liabilities



59,100




69,647




9,722


TOTAL LIABILITIES



219,869




229,846




32,085















Commitments and contingencies


























EQUITY













Ordinary share, no par value, unlimited Class A ordinary shares
     and Class B ordinary shares authorized, 38,922,726 Class A
     ordinary shares and 2,925,058 Class B ordinary shares issued
     and outstanding as of December 31, 2024, respectively;
     39,412,710 Class A ordinary shares and 2,925,058 Class B
     ordinary shares issued and outstanding as of June 30, 2025,
     respectively.













Class A ordinary shares



444,162




450,059




62,826


Class B ordinary shares



23,896




23,896




3,336


Shares to be issued



20,817




20,817




2,906


Treasury stocks



(19,952)




(19,952)




(2,785)


Statutory reserves



50,705




51,195




7,147


Retained earnings



662,499




675,502




94,296


Accumulated other comprehensive income



16,967




17,792




2,483


Total shareholders' equity



1,199,094




1,219,309




170,209


Non-controlling interests



(13,778)




(17,352)




(2,422)


Total equity



1,185,316




1,201,957




167,787


TOTAL LIABILITIES AND EQUITY



1,405,185




1,431,803




199,872


 

 

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND
COMPREHENSIVE INCOME


(All amounts in thousands, except share and per share data or otherwise stated)






For the three months ended



For the six months ended




June 30,



June 30,



June 30,



June 30,



June 30,



June 30,




2024



2025



2025



2024



2025



2025




RMB



RMB



US$



RMB



RMB



US$


Livestreaming -
     consumable virtual
     items revenue



362,293




335,610




46,849




671,308




630,084




87,956


Livestreaming - time
     based virtual items
     revenue



6,542




4,400




614




12,516




9,258




1,292


Technical services and
     others



6,005




9,022




1,259




7,315




17,025




2,377


Total revenues



374,840




349,032




48,722




691,139




656,367




91,625


Cost of revenues



(310,117)




(285,353)




(39,834)




(573,329)




(533,195)




(74,431)


Gross profit



64,723




63,679




8,888




117,810




123,172




17,194


Operating expenses

























Sales and marketing
     expenses



(189)




(1,299)




(181)




(2,177)




(3,412)




(476)


General and
     administrative
     expenses



(16,650)




(21,027)




(2,935)




(36,580)




(44,379)




(6,195)


Research and
     development
     expenses



(17,534)




(17,437)




(2,434)




(39,061)




(36,999)




(5,165)


Provision for credit
     losses



(1,769)




(646)




(90)




(1,126)




(1,400)




(195)


Total operating
     expenses



(36,142)




(40,409)




(5,640)




(78,944)




(86,190)




(12,031)


Income from
     operations



28,581




23,270




3,248




38,866




36,982




5,163


Change in fair value of
     investment in
     marketable security



6,991




(6,758)




(943)




3,764




(31,092)




(4,340)


Investment loss



(1,114)




(559)




(78)




(3,354)




(971)




(136)


Interest income, net



449




457




64




2,428




996




139


Other income, net



575




7,639




1,066




688




9,072




1,266


Foreign exchange gain
     (loss), net



974




(1,614)




(225)




1,508




(2,630)




(367)


Income before income
     taxes



36,456




22,435




3,132




43,900




12,357




1,725


Income tax (expenses)
     benefits



(3,035)




272




38




(7,673)




(2,608)




(364)


Net income



33,421




22,707




3,170




36,227




9,749




1,361


Less: net (loss) income
     attributable to
     noncontrolling
     interest



(1,919)




124




17




(5,693)




(3,744)




(523)


Net income
     attributable to the
     Company's
     shareholders



35,340




22,583




3,153




41,920




13,493




1,884



























Other comprehensive
     (loss) income:

























Other comprehensive
     (loss) income -
     foreign currency
     translation
     adjustment



(172)




672




94




(608)




995




139


Comprehensive
     income



33,249




23,379




3,264




35,619




10,744




1,500


Less: comprehensive
     (loss) income
     attributable to non-
     controlling interests



(1,919)




343




48




(5,693)




(3,574)




(499)


Comprehensive
     income attributable
     to the Company's
     shareholders



35,168




23,036




3,216




41,312




14,318




1,999



























Weighted average
     number of shares

























Basic



41,164,872




41,591,911




41,591,911




41,164,872




41,578,079




41,578,079


Diluted



41,334,310




41,669,236




41,669,236




41,461,415




41,655,404




41,655,404


Earnings per share

























Basic



0.86




0.54




0.08




1.02




0.32




0.05


Diluted



0.85




0.54




0.08




1.01




0.32




0.05


 

 

Reconciliations of Non-GAAP Results


(All amounts in thousands, except share and per share data or otherwise stated)






For the three months ended



For the six months ended




June
30,



June
30,



June
30,



June
30,



June
30,



June
30,




2024



2025



2025



2024



2025



2025




RMB



RMB



US$



RMB



RMB



US$


Net income attributable to the
     Company's shareholders



35,340




22,583




3,153




41,920




13,493




1,884


Less:

























Share based compensation



(3,194)




(2,322)




(324)




(5,629)




(5,897)




(823)


Adjusted net income attributable to
     the Company's shareholders*



38,534




24,905




3,477




47,549




19,390




2,707


Adjusted net income attributable to
     the Company's shareholders per
     ordinary share*

























Basic



0.94




0.60




0.08




1.16




0.47




0.07


Diluted



0.93




0.60




0.08




1.15




0.47




0.07




"Adjusted net income attributable to the Company's shareholders" is defined as net income attributable
to the Company's shareholders excluding share-based compensation. For more information, refer to "Use
of Non-GAAP Financial Measures" and "Reconciliations of Non-GAAP Results" at the end of this press
release.


 

 

Cision View original content:https://www.prnewswire.com/news-releases/scienjoy-holding-corporation-reports-second-quarter-and-first-half-2025-unaudited-financial-results-302539714.html

SOURCE Scienjoy Holding Corporation

FAQ

What were Scienjoy's (SJ) key financial results for Q2 2025?

In Q2 2025, Scienjoy reported revenues of RMB349.0M (US$48.7M), net income of RMB22.7M (US$3.2M), and gross margin improved to 18.2% from 17.3% year-over-year.

How much cash does Scienjoy (SJ) have as of June 30, 2025?

Scienjoy had RMB298.5M (US$41.7M) in cash and cash equivalents, an increase of RMB46.0M from December 31, 2024.

What caused Scienjoy's (SJ) decline in revenue for H1 2025?

The revenue decline was primarily caused by a decrease in paying users due to competitive landscape in China's mobile live streaming market, with total paying users dropping to 253,888 from 284,076.

What is Scienjoy's (SJ) strategy for future growth?

Scienjoy is focusing on its 'live streaming + gaming' ecosystem strategy, developing AI Vista for AIGC content creation, and expanding globally with AI Performer technology for digital humans.

How did Scienjoy's (SJ) gross margin perform in H1 2025?

Gross margin increased to 18.8% from 17.0% year-over-year, driven by higher average revenue per paying user and lower revenue sharing fees.
Scienjoy Holding Corp

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