Business
Scienjoy Holding Corporation Reports Interim Nine months ended September 30, 2021 Unaudited Financial Results
Revenues up 52.5% Year Over Year Adjusted Net Income up 37.5% Year Over Year Nine months 2021 Revenues and Adjusted Net Income Approach Fiscal Year 2020
About this update from Scienjoy Holding Corporation
[{"type":"text","content":"Revenues up 52.5% Year Over Year\n Adjusted Net Income up 37.5% Year Over Year\n Nine months 2021 Revenues and Adjusted Net Income Approach Fiscal Year 2020 Results\n\n\nBEIJING, Nov. 22, 2021 /PRNewswire/ -- Scienjoy Holding Corporation (\"Scienjoy\", the \"Company\", or \"We\") (NASDAQ: SJ), a leading live entertainment mobile streaming platform in China, today announced its unaudited financial results for the nine months ended September 30, 2021.\nNine Months 2021 Operating and Financial Highlights\nTotal net revenues for the nine months ended September 30, 2021 increased by 52.5% to RMB1,171.2 million (US$181.8 million) from RMB767.8 million in the same period of 2020. Gross profit for the nine months ended September 30, 2021 increased by 27.4% to RMB232.4 million (US$36.1 million) from RMB182.4 million in the same period of 2020. Net income for the nine months ended September 30, 2021 increased by 7.7% to RMB237.5 million (US$36.9 million) from RMB220.5 million in the same period of 2020. Adjusted net income for the nine months ended September 30, 2021 increased by 37.5% to RMB182.6 million (US$28.3 million) from RMB132.8 million in the same period of 2020. Total paying users for the nine months ended September 31,2021 decreased by 10.8% to 648,465 from 727,385 in the same period of 2020. Active broadcasters for the nine months ended September 31,2021 increased by 28.2% to 250,497 from 195,422 in the same period of 2020. As of September 30, 2021, the Company had RMB291.9 million (US$45.3 million) in cash and cash equivalents, which represented an increase of 29.9% from RMB224.8 million as of December 31, 2020. Mr. Victor He, Chairman and Chief Executive Officer of Scienjoy, commented, \"Scienjoy has continued to achieve outstanding financial and operational results in the first nine months of 2021. Our revenues and adjusted net income for the nine months of 2021 are close to the full year results of fiscal year 2020, which reflect tremendous growth in our business. We have made significant progress on improving operating efficiency through refined operations and continued to invest and adopt extensive cutting-edge technologies to improve overall users' experience. The rapid growth number of active broadcasters has proved our strong capabilities in addressing increasing demands for livestreaming. Looking forward, we are comm...