Business
Scienjoy Holding Corporation Reports Nine Months ended September 30, 2024 Unaudited Financial Results
Income from Operations up 313.7% Year Over YearNet Income Increased by Approximately US$10 million Year Over Year BEIJING, Nov. 25, 2024 /PRNewswire/ --
About this update from Scienjoy Holding Corporation
[{"type":"text","content":"Income from Operations up 313.7% Year Over YearNet Income Increased by Approximately US$10 million Year Over Year\nBEIJING, Nov. 25, 2024 /PRNewswire/ -- Scienjoy Holding Corporation (\"Scienjoy\", the \"Company\", or \"we\") (NASDAQ: SJ), an interactive entertainment leader in the Chinese market, today announced its unaudited financial results for the nine months ended September 30, 2024.\n\nNine Months 2024 Operating and Financial Summaries\nTotal revenues decreased to RMB1,012.5 million (US$144.3 million) for the nine months ended September 30, 2024 from RMB1,036.6 million in the same period of 2023.Gross profit increased by 29.6% to RMB179.6 million (US$25.6 million) for the nine months ended September 30, 2024 from RMB138.6 million in the same period of 2023.Income from operations increased by 313.7% to RMB35.3 million (US$5.0 million) for the nine months ended September 30, 2024 from RMB8.5 million in the same period of 2023.Net income was RMB34.2 million (US$4.9 million) for the nine months ended September 30, 2024, increased by RMB71.5 million as compared to a net loss of RMB37.3 million in the same period of 2023.Net income attributable to the Company's shareholders was RMB42.7 million (US$6.1 million) for the nine months ended September 30, 2024, as compared to a net loss attributable to the Company's shareholders of RMB34.7 million in the same period of 2023.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, increased by RMB72.8 million as compared to an adjusted net loss attributable to the Company's shareholders of RMB22.0 million in the same period of 2023.As of September 30, 2024, the Company had RMB217.3 million (US$31.0 million) in cash and cash equivalents, which represented an increase of RMB11.8 million from RMB205.5 million as of December 31, 2023.Mr. Victor He, Chairman and Chief Executive Officer of Scienjoy, commented, \"We are proud to announce positive results for the nine months ended September 30, 2024, highlighted by a 29.6% surge in gross profit. This growth underscores our success in converting high-quality paying users into consistent profit, despite the tapering impact of promotional campaigns on users' base and consequently on revenue. The increase in average revenue per paying user further reflects ou...