Business
Scienjoy Reports 2021 First Half Financial Results
Revenues up 68.0% Year Over Year Adjusted Net Income up 57.9% Year Over Year BEIJING, Aug. 23, 2021 /PRNewswire/ -- Scienjoy Holding Corporation ("Scienjoy",
About this update from Scienjoy Holding Corporation
[{"type":"text","content":"Revenues up 68.0% Year Over Year\n Adjusted Net Income up 57.9% Year Over Year\n\n\nBEIJING, Aug. 23, 2021 /PRNewswire/ -- Scienjoy Holding Corporation (\"Scienjoy\", the \"Company\", or \"We\") (NASDAQ: SJ), a leading live entertainment mobile streaming platform in China, today announced its financial results for the first six months ended June 30, 2021. \n\n \n First Half 2021 Operating and Financial Highlights\n \n\n \n Total net revenues increased by 68.0% to RMB758.3 million (US$117.4 million) from RMB451.4 million in the same period of 2020. Total net revenues for both the first and second quarter of 2021 exceed the high end of the estimated range released by the Company. \n Gross profit increased by 44.7% to RMB160.1 million (US$24.8 million) from RMB110.6 million in the same period of 2020. Gross margin was 21.1% and 24.5% in the first half of fiscal 2021 and 2020, respectively. \n Net income increased by 2.3% to RMB163.0 million (US$25.2 million) from RMB159.4 million in the same period of 2020. Net margin was 21.5% and 35.3% in the first half of fiscal 2021 and 2020, respectively. \n Adjusted net income[1] increased by 57.9% to RMB128.6 million (US$19.9 million) from RMB81.5 million in the same period of 2020. Adjusted net margin was 17.0% and 18.0% in the first half of fiscal 2021 and 2020, respectively. \n Total paying users increased by 10.2% to 477,062 from 433,058 in the same period of 2020. \n Total number of active broadcasters increased by 671.2% to 202,359 from 26,239 in the same period of 2020. \n As of June 30, 2021, the Company had RMB286.8 million (US$44.4 million) in cash and cash equivalents, which represented an increase of 27.6% from RMB224.8 million as of December 31, 2020.\n \n \n \n \n \n [1] \"Adjusted net income\" is defined as net income excluding change in fair value of contingent consideration and warrant liabilities. For more information, refer to \"Use of Non-GAAP Financial Measures\" and \"Reconciliations of Non-GAAP Results\" at the end of this press release.\n \n\n \n \n \n \n \n\n Mr. Victor He, Chairman and Chief Executive Officer of Scienjoy, commented, \"We are pleased to announce that Scienjoy has continued to deliver strong financial and operational results in the first half year of 2021. During the period we continued to adopt new technologies to enrich the content of our livestream...