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Scienjoy Holding Corporation Reports Fiscal Year 2023 Financial Results
BEIJING, April 26, 2024 /PRNewswire/ -- Scienjoy Holding Corporation ("Scienjoy", the "Company", or "we") (NASDAQ: SJ), an interactive entertainment leader in
About this update from Scienjoy Holding Corporation
[{"type":"text","content":"BEIJING, April 26, 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 year ended December 31, 2023.\n\nFiscal Year 2023 Operating and Financial Summary\nTotal revenues decreased to RMB1,464.9 million (US$206.3 million) for the year ended December 31, 2023 from RMB1,953.3 million for the year ended December 31, 2022.Gross profit decreased to RMB192.7 million (US$27.1 million) for the year ended December 31, 2023 from RMB283.2 million for the year ended December 31, 2022.Income from operations decreased to RMB22.8 million (US$3.2 million) for the year ended December 31, 2023 from RMB149.8 million for the year ended December 31, 2022. Excluding one-time provision for credit loss of RMB16.3 million, income from operation would amount to RMB39.1 million (US$5.5 million) for the year ended December 31, 2023.Net loss attributable to the Company's shareholders was RMB30.8 million (US$4.3 million) for the year ended December 31, 2023, as compared with a net income attributable to the Company's shareholders of RMB193.3 million for the year ended December 31, 2022. Excluding one-time expenses amounting to RMB58.8 million including investment impairment, share of unrealized loss, and provision for credit loss, the Company would have net income attributable to the Company's shareholders of RMB28.0 million (US$3.9 million) for the year ended December 31, 2023.Adjusted net loss attributable to the Company's shareholders was RMB11.7 million (US$1.6 million) for the year ended December 31, 2023, as compared with a net income adjusted attributable to the Company's shareholders of RMB181.4 million for the year ended December 31, 2022.As of December 31, 2023, the Company had cash and cash equivalent balance of RMB205.5 million (US$28.9million), increased by 17.2% from RMB175.3 million as of December 31, 2022.Total paying users were 557,692 for the year ended December 31, 2023, compared to 702,372 for the year ended December 31, 2022.Mr. Victor He, Chairman and Chief Executive Officer of Scienjoy, commented, \"It gives me great pleasure to look back on the past fiscal year 2023, a milestone year with remarkable progresses in our globalization and metaverse vision. We are steadily moving forw...