Core Points - Stella-Jones Inc. will hold an investor day on November 20, 2025, for institutional investors and research analysts in Toronto, Ontario [1] - The event will start at 9 a.m. EST and conclude at 12 p.m. EST, with limited in-person attendance by invitation only [2] - Virtual attendance is available via a provided link, and attendees are encouraged to join at least 10 minutes early [2] - An investor presentation will be available on the Company's website on the morning of the event, with a replay of the webcast accessible afterward [3] Company Overview - Stella-Jones Inc. is a leading North American manufacturer focused on infrastructure products essential for electrical distribution, transmission, and railway transportation systems [4] - The Company supplies treated wood and steel utility poles, steel lattice towers, and treated wood railway ties to major electrical utilities and railway operators in North America [4] - Stella-Jones also manufactures industrial products such as timbers for railway bridges and marine pilings, and distributes premium treated residential lumber to Canadian and American retailers [4]

Core Insights - Stella-Jones Inc. has appointed Ms. Renée Laflamme and Mr. Sean Donnelly to its Board of Directors, increasing the total number of board members to ten [5]. Group 1: Appointees' Backgrounds - Ms. Renée Laflamme has over 25 years of experience in financial services and insurance, currently serving as Executive Vice President at iA Financial Group, where she oversees growth strategy and operations [2]. - Mr. Sean Donnelly has extensive experience in innovation, technology, and manufacturing, notably as President and CEO of ArcelorMittal Dofasco from 2014 to 2021, focusing on operational excellence and sustainability [3]. Group 2: Company Overview - Stella-Jones Inc. is a leading North American manufacturer of products essential for infrastructure, supplying treated wood and steel utility poles, steel lattice towers, and treated wood railway ties to major electrical utilities and railroad operators [6]. - The company also provides industrial products for railway bridges and marine applications, along with premium treated residential lumber for outdoor use, primarily servicing Canadian customers through its distribution network [6]. Group 3: Board Chair's Statement - Katherine A. Lehman, Chair of the Board, expressed confidence that the new appointees will enhance the Board's effectiveness and support the company's long-term success, aligning with Stella-Jones' evolving priorities [4].

Core Viewpoint - The article emphasizes the importance of investing in high-quality stocks and businesses that are managed by disciplined capital allocators, which can generate exceptional returns on capital and compound invested capital over long periods of time [1]. Group 1 - The investment philosophy focuses on acquiring stocks from companies that demonstrate strong management and capital allocation skills [1]. - The preferred businesses are those that can sustain high returns on capital over extended periods [1].

Core Points - Stella-Jones Inc. is a leading North American manufacturer focused on infrastructure products essential for electrical distribution, transmission, and railway transportation systems [3] - The company supplies treated wood and steel utility poles, steel lattice towers, and treated wood railway ties to major electrical utilities and railway operators across North America [3] - Stella-Jones also manufactures premium treated residential lumber and accessories for outdoor applications, with a significant portion of its business dedicated to Canadian customers [3] Company Information - The company is listed on the Toronto Stock Exchange under the stock symbol SJ [4] - The head office is located in Saint-Laurent, Québec, with contact information provided for investor relations and corporate communications [4][5] - An upcoming conference call is scheduled for November 5, 2025, at 10:00 AM EST, with a live webcast available for interested parties [1][2]

Core Viewpoint - Stella-Jones Inc. has announced a definitive agreement to acquire Brooks Manufacturing Co. for approximately US$140 million, aiming to expand its product offerings and enhance its market reach in the utility sector [1][3]. Company Overview - Stella-Jones Inc. is a leading North American manufacturer focused on infrastructure products essential for electrical distribution and transmission, as well as railway transportation systems [4]. - The company supplies treated wood and steel utility poles, steel lattice towers, and treated wood railway ties to major electrical utilities and railway operators across North America [4]. Acquisition Details - The acquisition of Brooks, a manufacturer of treated wood distribution crossarms and transmission framing components, is expected to close by the end of the year, pending U.S. antitrust regulatory approval [1][3]. - Brooks reported sales of approximately US$84 million for the year ended December 31, 2024 [3]. - The acquisition will be financed through Stella-Jones' existing revolving credit facilities [3]. Strategic Rationale - The acquisition is seen as a natural fit that enhances Stella-Jones' ability to meet the growing demand from utilities and unlock new growth opportunities [3]. - The move aligns with the company's strategic focus to become a partner of choice for infrastructure customers [3].

Financial Reporting Standards - The unaudited condensed consolidated financial statements are prepared in accordance with U.S. GAAP and do not include all information required for complete financial statements[2]. - The Company accounts for business combinations under the purchase method, with goodwill recorded as the excess of acquisition cost over the fair value of identifiable net assets[15]. - The Company adopted ASU No. 2016-13 for measuring expected credit losses effective January 1, 2023, impacting the allowance for credit losses[22]. - The Company adopted Credit Losses (Topic 326) effective January 1, 2023, to make specific bad debt provisions based on management's estimates[67]. - The Company is currently evaluating the impact of several new accounting standards, including ASU 2025-04 and ASU 2025-05, on its financial statements[63][64]. Financial Performance - Total revenue for the six months ended June 30, 2025, was RMB 656,367 (approximately US$ 91,625), a decrease of 5% compared to RMB 691,139 in the same period of 2024[45]. - Revenue from live streaming consumable virtual items was RMB 630,084 for the six months ended June 30, 2025, down 6% from RMB 671,308 in 2024[45]. - Revenue from technical services and others increased significantly to RMB 17,025 in the six months ended June 30, 2025, compared to RMB 7,315 in 2024, representing a growth of 133%[43]. - The company operates five brands of live streaming platforms, with Showself generating RMB 165,985 in revenue for the six months ended June 30, 2025, an increase of 19% from RMB 139,571 in 2024[45]. - Government subsidies received amounted to RMB 7,962 (approximately US$ 1,111) for the six months ended June 30, 2025, compared to RMB 703 in 2024[47]. - Sales and marketing expenses increased to RMB 3,285 (approximately US$ 459) for the six months ended June 30, 2025, from RMB 2,045 in 2024[49]. - The company recorded total tax savings of RMB 6,255 for the six months ended June 30, 2025, impacting basic EPS by RMB 0.5[99]. - For the six months ended June 30, 2025, the total income tax expenses were RMB 2,608 (US$ 364), a decrease of 66.0% compared to RMB 7,673 for the same period in 2024[102]. - The effective income tax rate increased from 17.5% in 2024 to 21.1% in 2025, primarily due to the effect of tax-preferential entities and non-deductible expenses[102]. Asset Valuation and Impairment - The Company evaluates long-lived assets for impairment whenever events indicate that the carrying amount may not be recoverable, with no impairment recognized for the six months ended June 30, 2024 and 2025[26]. - The Company performs annual impairment tests on goodwill, determining that the fair value exceeds carrying value for the periods ended June 30, 2024 and 2025[27]. - The total intangible assets, net as of June 30, 2025, were RMB 401,786 (US$ 56,087), with accumulated amortization of RMB 30,210 (US$ 4,217)[75]. - The estimated annual amortization expense for the fiscal year ending June 30, 2026, is projected to be RMB 5,818 (US$ 812)[76]. - The deferred tax liabilities related to intangible assets acquired through acquisition were RMB 57,691 (US$ 8,053) as of June 30, 2025, down from RMB 58,400 as of December 31, 2024[104]. Investments and Equity - As of June 30, 2025, the fair value of investment in marketable equity securities is recorded at RMB 6,537,000, down from RMB 37,629,000 as of December 31, 2024[34]. - The company invested RMB 37,500 to acquire an additional 11.5385% equity interest in Banyou, bringing its total ownership to 19.2308%[81]. - The company recorded a share of loss of RMB 971 from equity method investees for the six months ended June 30, 2025[86]. - As of June 30, 2025, total long-term investments amounted to RMB 262,214, an increase from RMB 257,387 as of December 31, 2024[77]. Cash and Liquidity - As of June 30, 2025, cash and cash equivalents deposited with major financial institutions in the PRC amounted to RMB 288,174 (US$ 40,228)[66]. - The Company believes that deposits in Chinese banks are secure due to state policies protecting depositors' interests[66]. Liabilities and Commitments - The total operating lease liabilities as of June 30, 2025, were RMB 16,568, up from RMB 4,798 as of December 31, 2024[90]. - The right-of-use assets increased to RMB 17,795 as of June 30, 2025, compared to RMB 4,845 as of December 31, 2024[90]. - The Company did not have significant capital and other commitments as of June 30, 2025[116]. Shareholder Information - As of June 30, 2025, the Company had 39,412,710 Class A ordinary shares and 2,925,058 Class B ordinary shares issued and outstanding[109]. - The Company had 1,048,178 treasury shares held in escrow as of June 30, 2025[110]. - As of June 30, 2025, the Company had statutory reserves of RMB 51,195 (US$ 7,147), up from RMB 50,705 as of December 31, 2024[114]. - The restricted net assets of the Company's PRC subsidiaries and VIE were RMB 429,573 (US$ 59,966) as of June 30, 2025[115]. Risk and Concentration - As of June 30, 2025, four unrelated distributors accounted for 38.7%, 25.0%, and 15.8% of the Company's accounts receivable, indicating a concentration in customer credit risk[74]. - For the six months ended June 30, 2025, no vendor accounted for greater than 10% of the Company's total purchases, indicating a diversified supplier base[70]. Subsequent Events - No subsequent events occurred that would require recognition or disclosure in the financial statements after June 30, 2025[118].

Core Viewpoint - Scienjoy Holding Corporation reported a decline in revenues and net income for the second quarter and first half of fiscal year 2025, primarily due to a decrease in paying users in the competitive mobile live streaming market in China. However, the company is focused on advancing its "live streaming + gaming" ecosystem strategy and leveraging AI technologies to enhance user experience and drive growth [4][21]. Financial Performance - Total revenues for Q2 2025 decreased to RMB 349.0 million (US$ 48.7 million) from RMB 374.8 million in Q2 2024, a decline of approximately 6.5% [7][9]. - Gross profit for Q2 2025 was RMB 63.7 million (US$ 8.9 million), down from RMB 64.7 million in Q2 2024, while gross margin increased to 18.2% from 17.3% [7][11]. - Net income for Q2 2025 decreased to RMB 22.7 million (US$ 3.2 million) from RMB 33.4 million in Q2 2024, primarily due to a RMB 13.7 million decrease in the change in fair value of investments [7][17]. - For the first half of 2025, total revenues decreased to RMB 656.4 million (US$ 91.6 million) from RMB 691.1 million in the same period of 2024 [21]. - Gross profit for the first half of 2025 increased by 4.6% to RMB 123.2 million (US$ 17.2 million) from RMB 117.8 million in the same period of 2024, with gross margin rising to 18.8% from 17.0% [23][21]. User Metrics - Total paying users for Q2 2025 were 165,239, down from 189,860 in Q2 2024, reflecting the competitive landscape of China's mobile live streaming market [9][21]. - For the first half of 2025, total paying users decreased to 253,888 from 284,076 in the same period of 2024 [21]. Cost Management - Cost of revenues for Q2 2025 decreased to RMB 285.4 million (US$ 39.8 million) from RMB 310.1 million in Q2 2024, primarily due to a reduction in revenue sharing fees [10][22]. - Total operating expenses increased by 11.8% to RMB 40.4 million (US$ 5.6 million) for Q2 2025 from RMB 36.1 million in Q2 2024 [12]. Strategic Initiatives - The company is committed to its global expansion strategy, focusing on new markets to broaden its user base and diversify revenue streams [6]. - Scienjoy is enhancing its live streaming business and AI-driven initiatives, such as AI Vista, to deliver differentiated user experiences [5][8]. Cash Position - As of June 30, 2025, the company had cash and cash equivalents of RMB 298.5 million (US$ 41.7 million), an increase of RMB 46.0 million from RMB 252.5 million as of December 31, 2024 [32].

Group 1 - The stock price of SJ increased by 3.2% to $0.77 per share, with a total market capitalization of $32.34 million as of August 22 [1] - As of March 31, 2025, SJ reported total revenue of 307 million RMB, a year-on-year decrease of 2.83%, and a net profit attributable to shareholders of -9.09 million RMB, a year-on-year decrease of 238.15% [1] Group 2 - SJ is set to disclose its mid-year report for the fiscal year 2025 on September 4, with the actual disclosure date subject to company announcement [2] - SJ, formerly known as Wealthbridge Acquisition Limited, operates a mobile entertainment live streaming platform in China, providing immersive interactive entertainment experiences through various platforms [2]

Financial Performance - Sales for Q2 2025 were $1,034 million, a decrease of $15 million from $1,049 million in Q2 2024 [3][4] - Gross profit was $206 million, down from $226 million, resulting in a gross profit margin of 19.9% compared to 21.5% in the prior year [3][7] - Operating income decreased to $155 million from $168 million, with an operating income margin of 15.0% [3][8] - EBITDA for the quarter was $189 million, representing an EBITDA margin of 18.3%, down from 19.1% in Q2 2024 [3][8] - Net income for Q2 2025 was $106 million, or $1.91 per share, compared to $110 million, or $1.94 per share, in Q2 2024 [3][9] Acquisition and Strategic Developments - The company completed the acquisition of Locweld, a steel transmission structure manufacturer, for a total consideration of $58 million [5][15] - This acquisition is expected to enhance the company's infrastructure offerings and position it to capitalize on new investment opportunities [2][5] Market Outlook and Guidance - The company has revised its revenue outlook for 2025 to approximately $3.5 billion, down from the previous estimate of $3.6 billion, due to ongoing macroeconomic challenges [16] - The revised guidance reflects lower-than-expected organic sales growth in utility poles and a modest decline in railway ties sales [16][17] Liquidity and Capital Resources - As of June 30, 2025, the company had available liquidity of $693 million and a net debt-to-EBITDA ratio of 2.4x [14][17] - The company returned $54 million to shareholders through dividends and share repurchases during the quarter [14] Segment Performance - Utility poles sales increased to $476 million, while railway ties sales decreased to $240 million, reflecting a shift in treatment practices by a major customer [13] - Residential lumber sales remained stable at $246 million, with higher market prices offsetting softer demand [13]

Group 1 - The core viewpoint of the articles highlights the financial performance and upcoming reporting of SJ, indicating a decline in revenue and net profit [1][2] - As of August 6, SJ's stock price increased by 2.14% to $0.812 per share, with a total market capitalization of approximately $34.11 million [1] - Financial data shows that as of March 31, 2025, SJ's total revenue was 307 million RMB, a year-on-year decrease of 2.83%, and the net profit attributable to the parent company was -9.09 million RMB, a significant year-on-year decrease of 238.15% [1] Group 2 - SJ is set to disclose its mid-year report for the fiscal year 2025 on September 4, with the actual disclosure date subject to company announcements [2] - The company, formerly known as Wealthbridge Acquisition Limited, operates a mobile entertainment live streaming platform in China, providing immersive interactive entertainment experiences [2] - SJ's platform includes various services such as live streaming, events, promotions, and gaming, and it also offers technical infrastructure for interaction among live streaming companies, online users, and audiences [2]