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Scienjoy Holding Corporation Reports Second Quarter and First Half 2024 Unaudited Financial Results
BEIJING, Aug. 29, 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, Aug. 29, 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 second quarter and first half of fiscal year 2024 ended June 30, 2024.\n\nSecond Quarter 2024 Operating and Financial Summaries\nTotal revenues increased by 3.2% to RMB374.8 million (US$51.6 million) for the three months ended June 30, 2024 from RMB363.2 million in the same period of 2023.Gross profit increased by 28.3% to RMB64.7 million (US$8.9 million) for the three months ended June 30, 2024 from RMB50.4 million in the same period of 2023.Income from operations increased by 148.0% to RMB28.6 million (US$3.9 million) for the three months ended June 30, 2024 from RMB11.5 million in the same period of 2023.Net income was RMB33.4 million (US$4.6 million) for the three months ended June 30, 2024, as compared with RMB84.9 million in the same period of 2023. The decrease in net income was primarily attributed to the change in fair value of investment in marketable security, which does not affect the Company's normal business operations. The change in fair value of investment in marketable security was primarily attributable to the fair value changes in investments in publicly traded company. The share price of publicly traded company experienced a moderate increase during the three months ending June 30, 2024, compared to a significant increase during the same period of 2023.Net income attributable to the Company's shareholders was RMB35.3 million (US$4.9 million) for the three months ended June 30, 2024, as compared with RMB84.7 million in the same period of 2023.Adjusted net income attributable to the Company's shareholders was RMB38.5 million (US$5.3 million) for the three months ended June 30, 2024, as compared with RMB86.8 million in the same period of 2023.First Half 2024 Operating and Financial Summaries\nTotal revenues increased by 3.6% to RMB691.1 million (US$95.1 million) for the six months ended June 30, 2024 from RMB667.4 million in the same period of 2023.Gross profit increased by 30.1% to RMB117.8 million (US$16.2 million) for the six months ended June 30, 2024 from RMB90.5 million in the same period of 2023.Income from operations increased by 136.5% to RMB38.9 million (US$5.3 million) for th...