Core Viewpoint - Scienjoy Holding Corporation reported significant financial improvements for the nine months ended September 30, 2024, including a substantial increase in income from operations and net income, despite a slight decline in total revenues compared to the previous year [1][3][20]. Financial Performance - Total revenues decreased to RMB1,012.5 million (US$144.3 million) for the nine months ended September 30, 2024, down from RMB1,036.6 million in the same period of 2023 [2][7]. - Gross profit increased by 29.6% to RMB179.6 million (US$25.6 million) for the nine months ended September 30, 2024, compared to RMB138.6 million in the same period of 2023 [2][9]. - Income from operations surged by 313.7% to RMB35.3 million (US$5.0 million) for the nine months ended September 30, 2024, up from RMB8.5 million in the same period of 2023 [3][14]. - Net income was RMB34.2 million (US$4.9 million) for the nine months ended September 30, 2024, a significant turnaround from a net loss of RMB37.3 million in the same period of 2023 [20][21]. Shareholder Returns - Net income attributable to the Company's shareholders was RMB42.7 million (US$6.1 million) for the nine months ended September 30, 2024, compared to a net loss of RMB34.7 million in the same period of 2023 [4][21]. - Adjusted net income attributable to the Company's shareholders was RMB50.8 million (US$7.2 million) for the nine months ended September 30, 2024, a significant increase from an adjusted net loss of RMB22.0 million in the same period of 2023 [5][22]. Operational Insights - The increase in average revenue per paying user (ARPPU) contributed to the gross profit growth, indicating effective conversion of high-quality paying users into profit [6][9]. - The Company is focusing on global expansion, particularly in the Dubai market, and investing in AI-Generated Content technologies to enhance user experiences [6][11]. Cost Management - Cost of revenues decreased to RMB832.9 million (US$118.7 million) for the nine months ended September 30, 2024, down from RMB898.0 million in the same period of 2023 [8]. - Total operating expenses increased by 11.0% to RMB144.3 million (US$20.6 million) for the nine months ended September 30, 2024, compared to RMB130.0 million in the same period of 2023 [10]. Future Outlook - The Company expects total net revenues to be in the range of RMB300 million to RMB330 million in the fourth quarter of 2024, reflecting current market and operational conditions [24].

Group 1 - Scienjoy Holding Corporation, a leader in interactive entertainment in China, will participate in the LD Micro Main Event XVII from October 28-30, 2024, in Los Angeles [1][2] - The company's presentation is scheduled for October 29, 2024, at 3:00 p.m. PST and will be available via a live webcast [2] - Scienjoy aims to shape a metaverse lifestyle using AI-powered technology to create immersive experiences for global audiences [3] Group 2 - The company will conduct one-on-one meetings with investors on October 29 and 30, 2024 [2] - Interested parties can register to watch the presentation through the provided webcast link [2] - Scienjoy is listed on Nasdaq and focuses on redefining entertainment through meaningful connections [3]

Core Viewpoint - Scienjoy Holding Corporation reported solid growth in revenue and gross profit for the first half of fiscal year 2024, driven by strategic initiatives focused on global expansion and metaverse innovation, despite a decrease in net income primarily due to changes in the fair value of investments in marketable securities [4][5]. Financial Performance Summary Second Quarter 2024 - Total revenues increased by 3.2% to RMB374.8 million (US$51.6 million) compared to RMB363.2 million in the same period of 2023 [2][6]. - Gross profit rose by 28.3% to RMB64.7 million (US$8.9 million) from RMB50.4 million in the same period of 2023 [2][7]. - Income from operations surged by 148.0% to RMB28.6 million (US$3.9 million) from RMB11.5 million in the same period of 2023 [2][10]. - Net income decreased by 60.6% to RMB33.4 million (US$4.6 million) from RMB84.9 million in the same period of 2023, attributed to changes in fair value of investments [2][13]. First Half 2024 - Total revenues increased by 3.6% to RMB691.1 million (US$95.1 million) from RMB667.4 million in the same period of 2023 [3][15]. - Gross profit increased by 30.1% to RMB117.8 million (US$16.2 million) from RMB90.5 million in the same period of 2023 [3][16]. - Income from operations rose by 136.5% to RMB38.9 million (US$5.3 million) from RMB16.4 million in the same period of 2023 [3][18]. - Net income decreased by 54.3% to RMB36.2 million (US$5.0 million) from RMB79.3 million in the same period of 2023, primarily due to changes in fair value of investments [3][21]. Cost and Expense Management - Cost of revenues decreased by 0.6% to RMB573.3 million (US$78.9 million) for the first half of 2024, primarily due to a significant reduction in user acquisition costs [15]. - Total operating expenses increased by 6.5% to RMB78.9 million (US$10.9 million) for the first half of 2024, with notable increases in research and development expenses [16][17]. Strategic Initiatives - The company is focusing on the metaverse industry and integrating AI technologies into its platform, SJ-Verse, to enhance user engagement and content personalization [4][5]. - Partnerships with local creators and service providers in Dubai are aimed at building a culturally resonant metaverse ecosystem [4][5]. Outlook - The company expects total net revenues for the third quarter of 2024 to be in the range of RMB303 million to RMB323 million, reflecting current market conditions [24].

Core Viewpoint - Scienjoy Holding Corporation has regained compliance with Nasdaq's minimum bid price requirement, with its Class A ordinary shares closing at $1.00 or greater for ten consecutive business days from August 5 to August 16, 2024 [1]. Group 1 - Scienjoy is a leader in the interactive entertainment sector in China, focusing on creating immersive experiences through AI-powered technology [2]. - The company aims to shape a metaverse lifestyle, fostering meaningful connections and redefining entertainment for global audiences [2].

BEIJING, Aug. 6, 2024 /PRNewswire/ -- Scienjoy Holding Corporation ("Scienjoy", the "Company", or "we") (NASDAQ: SJ), an interactive entertainment leader in the Chinese market, today announced that the Company had received a notification letter (the "Notification Letter") dated August 1, 2024 from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq"), notifying the Company that it is currently not in compliance with the minimum bid price requirement set forth under Nasdaq Listing R ...

BEIJING, June 6, 2024 /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 first quarter ended March 31, 2024.First Quarter 2024 Operating and Financial HighlightsTotal revenues increased by 3.9% to RMB316.3 million (US$43.8 million) in the first quarter of 2024, from RMB304.3 million in the same period of 2023.Gross profit increased by 32.4% to RMB53.1 million ...

Revenue Generation and User Engagement - The company relies heavily on a single monetization model, primarily generating revenue from virtual gifts purchased by users, which poses a risk if this model declines [27]. - Revenue growth is dependent on maintaining and increasing the paying user base and revenue per paying user; any decline in these metrics could adversely affect financial results [26]. - The company faces significant risks in retaining existing users and keeping them engaged, which is critical for sustaining revenue from live streaming services [26]. - High-quality content is essential for attracting and retaining users; failure to diversify and maintain content quality may lead to decreased viewership and engagement [28]. - The company must effectively manage relationships with talent agencies and broadcasters to ensure a steady supply of attractive content, as failure in this area could negatively impact user engagement [29]. - The company relies heavily on revenue from virtual gift sales, which is affected by user engagement and the retention of quality broadcasters [32]. - The company must adapt to a rapidly evolving market, particularly in converting non-paying users to paying users and maintaining a stable paying user base [33]. - The company’s growth strategy includes exploring new monetization avenues and developing appealing virtual gifts for users [33]. Regulatory and Compliance Risks - The company is subject to various risks related to compliance with PRC laws and regulations, which could materially affect operations and financial condition [22]. - There are uncertainties regarding the effectiveness of the company's contractual arrangements with VIEs, which could impact operational control and financial stability [21]. - The complexity and evolving nature of PRC regulations on the Internet industry create significant uncertainties for the company's operations and compliance [46]. - The company has obtained various licenses to operate in China, including an ICP License and an Internet Culture Operation License, but faces uncertainties regarding the sufficiency and renewal of these licenses [39]. - The PRC Foreign Investment Law defines foreign investment but leaves uncertainty regarding the recognition of VIE structures, which could impact the company's corporate structure [73]. - The latest negative list prohibits foreign investment in internet content services, which the company conducts through its VIEs, posing regulatory risks [73]. - The company may face civil lawsuits or regulatory actions due to user-generated content that violates PRC laws, which could lead to fines or operational restrictions [43]. - The PRC government may impose severe penalties if it deems the agreements establishing the VIE structure non-compliant with regulations, potentially leading to loss of operational rights [76]. Financial Performance and Market Conditions - In the fiscal year ended December 31, 2023, total revenues decreased by 25% compared to the fiscal year ended December 31, 2022, primarily due to a decrease in paying users and average ARPPU [33]. - The company anticipates continued increases in costs and expenses due to the need for operational improvements and workforce management [30]. - The company faces risks associated with international operations, including compliance with foreign laws and managing diverse cultures [36]. - Fluctuations in exchange rates could materially affect the company's results of operations and the value of investments [24]. - The company experiences seasonality in its business, with active users peaking in the last quarter of the year and correlating with marketing campaigns [65]. Legal and Litigation Risks - The company is exposed to risks related to litigation and potential claims, which could have adverse effects on its financial condition [19]. - The company faces potential litigation related to the use of open source software, which could impose unexpected conditions on its products and services [41]. - The company faces significant legal obstacles for overseas regulators to conduct investigations within China, which may hinder shareholder claims and regulatory actions [97]. - The company is currently not a party to any other material legal or administrative proceedings, but may face various legal disputes in the ordinary course of business [194]. Competition and Market Position - The company competes with established entertainment live streaming platforms, facing high entry barriers and intense competition for user traffic and quality broadcasters [33]. - The company faces significant competition in the mobile live streaming market from providers like Hello Group and JOYY [191]. - The company has grown its user base significantly since launching the Showself Live Streaming platform in 2014, becoming one of the leading providers in China [143]. Technology and Innovation - The company intends to continue investing in technologies such as AI, AR/VR, and big data to enhance user experience and operational efficiency [157]. - The platforms utilize AI and big data analysis to enhance user experience and improve paying ratios [189]. - The company has established strong data analytics capabilities to understand user behavior and industry trends, which is essential for driving user engagement and monetization [147]. Management and Corporate Governance - The company has a strong management team with over 20 years of experience in technology and Internet industries, which is crucial for identifying trends and seizing growth opportunities [148]. - Heshine holds 50.59% of the aggregate voting power, controlling significant shareholder actions including board elections and mergers [120]. - The dual-class share structure limits the influence of Class A shareholders and may discourage change of control transactions [122]. User Privacy and Security - The company may face challenges in addressing user privacy and security concerns, which could deter users and harm its reputation [22]. - Concerns regarding cybersecurity and data privacy could deter users and adversely affect the company's reputation and business [51]. - The company has implemented internal control measures to prevent intellectual property infringement but remains at risk of claims due to the nature of user-generated content [41]. Strategic Initiatives and Acquisitions - The company has formed a subsidiary in Dubai to expand its international operations, with a focus on Southeast Asia, the Middle East, and South America [36]. - The company has strategic plans to invest US$3 million for a 30% equity interest in DVCC TECHNOLOGY L.L.C, a metaverse company, indicating a shift towards integrating metaverse elements into its business model [153]. - The company has expanded its product lines and user base through various acquisitions, including the acquisition of Chuangda Zhihui (Beijing) Technology Co., Ltd. for RMB100,000 (US$15,692) [137]. Content Regulation and Compliance - The company must comply with strict content regulations, including prohibitions on obscenity, violence, and other illegal content [199]. - The National Radio and Television Administration mandates real-name registration for streamers and viewers on live-performance streaming platforms, with restrictions on virtual gift purchases for minors [208]. - The company is required to maintain records of live-streaming programs for at least 60 days to comply with inspection requirements from authorities [201].

Core Insights - Scienjoy Holding Corporation has launched two innovative AI products, AI Mate and AI Vision, at a high-profile event in Dubai, showcasing their potential to transform the interactive entertainment landscape [1][4]. Product Overview - **AI Mate**: A personal AI application designed to anticipate user needs through predictive personalization, offering a comprehensive daily assistant that integrates various tasks and social interactions [2]. - **AI Vision**: A platform that empowers creators to utilize proprietary visual generative models, fostering creativity and innovation by allowing users to manifest their artistic visions [3]. Company Vision and Strategy - The company aims to integrate AI technology into daily life, enhancing user experiences and promoting a creative renaissance through its innovative products [4][6]. - Scienjoy is committed to developing user-centric technologies that inspire and transform lives globally, positioning itself as a leader in the metaverse lifestyle [5][6].

BEIJING, Jan. 22, 2024 /PRNewswire/ -- Scienjoy Holding Corporation (NASDAQ: SJ) ("Scienjoy" or the "Company"), an interactive entertainment leader in the Chinese market, today announced that its Chief Financial Officer, Mr. Denny Tang, will participate and present in both group presentation and private one-on-one meetings with analysts and investors at two upcoming investor conferences. Sequire Investor Summit being held from January 23 to January 25, 2024 at Condado Vanderbilt Hotel in San Juan, Puerto R ...

Exhibit 99.1 Scienjoy Reports Second Quarter 2023 Unaudited Financial Results Second Quarter 2023 Adjusted Net Income Attributable to the Company's Shareholders up 41.3% Year Over Year BEIJING, Sept. 6, 2023 /PRNewswire/ -- Scienjoy Holding Corporation ("Scienjoy", the "Company", or "We") (NASDAQ: SJ), a leading provider of live streaming and entertainment platforms, today announced its financial results for the second quarter and first half of fiscal year 2023 ended June 30, 2023. Second Quarter 2023 Opera ...