Scienjoy Holding Corp 6-K, filed Aug 27, 2025

Scienjoy Holding Corp (SJ)

6-K 2025-08-27 For: 2025-06-30

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Added on April 06, 2026

About this 6-K

Scienjoy Holding Corp filed this 6-K on August 27, 2025.

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Exhibit No.		Description
99.1		Press Release
99.2		Management’s Discussion and Analysis
99.3		Unaudited Condensed Consolidated Financial Statements
101.		INS Inline XBRL Instance Document
101.		SCH Inline XBRL Taxonomy Extension Schema Document
101.		CAL Inline XBRL Taxonomy Extension Calculation Linkbase Document
101.		DEF Inline XBRL Taxonomy Extension Definition Linkbase Document
101.		LAB Inline XBRL Taxonomy Extension Label Linkbase Document
101.		PRE Inline XBRL Taxonomy Extension Presentation Linkbase Document
104		Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)

	Scienjoy Holding Corporation

	By:	/s/ Xiaowu He
	Name:	Xiaowu He
	Title:	Chief Executive Officer

	As of December 31,			As of June 30,
	2024			2025			2025
	RMB			RMB			US$
ASSETS
Current assets
Cash and cash equivalents		252,540			298,490			41,668
Accounts receivable, net		226,060			222,704			31,088
Prepaid expenses and other current assets		28,415			29,080			4,059
Amounts due from related parties		-			100			14
Investment in marketable security		37,629			6,537			913
Total current assets		544,644			556,911			77,742

Non-current assets
Property and equipment, net		1,981			1,507			210
Intangible assets, net		405,256			401,786			56,087
Goodwill		182,661			183,138			25,565
Long term investments		257,387			262,214			36,604
Long term deposits and other assets		906			839			117
Right-of-use assets-operating lease		4,845			17,795			2,484
Deferred tax assets		7,505			7,613			1,063
Total non-current assets		860,541			874,892			122,130
TOTAL ASSETS		1,405,185			1,431,803			199,872

LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Accounts payable		36,015			39,041			5,450
Accrued salary and employee benefits		22,346			10,382			1,449
Accrued expenses and other current liabilities		6,840			4,602			642
Income tax payable		11,284			12,364			1,726
Lease liabilities-operating lease -current		4,098			4,612			644
Deferred revenue		80,186			89,198			12,452
Total current liabilities		160,769			160,199			22,363

Non-current liabilities
Deferred tax liabilities		58,400			57,691			8,053
Lease liabilities-operating lease -non-current		700			11,956			1,669
Total non-current liabilities		59,100			69,647			9,722
TOTAL LIABILITIES		219,869			229,846			32,085

Commitments and contingencies

EQUITY
Ordinary share, no par value, unlimited Class A ordinary shares and Class B ordinary shares authorized, 38,922,726 Class A ordinary shares and 2,925,058 Class B ordinary shares issued and outstanding as of December 31, 2024, respectively; 39,412,710 Class A ordinary shares and 2,925,058 Class B ordinary shares issued and outstanding as of June 30, 2025, respectively.
Class A ordinary shares		444,162			450,059			62,826
Class B ordinary shares		23,896			23,896			3,336
Shares to be issued		20,817			20,817			2,906
Treasury stocks		(19,952	)		(19,952	)		(2,785	)
Statutory reserves		50,705			51,195			7,147
Retained earnings		662,499			675,502			94,296
Accumulated other comprehensive income		16,967			17,792			2,483
Total shareholders’ equity		1,199,094			1,219,309			170,209
Non-controlling interests		(13,778	)		(17,352	)		(2,422	)
Total equity		1,185,316			1,201,957			167,787
TOTAL LIABILITIES AND EQUITY		1,405,185			1,431,803			199,872

	For the three months ended									For the six months ended
	June 30,			June 30,			June 30,			June 30,			June 30,			June 30,
	2024			2025			2025			2024			2025			2025
	RMB			RMB			US$			RMB			RMB			US$
Livestreaming - consumable virtual items revenue		362,293			335,610			46,849			671,308			630,084			87,956
Livestreaming - time based virtual items revenue		6,542			4,400			614			12,516			9,258			1,292
Technical services and others		6,005			9,022			1,259			7,315			17,025			2,377
Total revenues		374,840			349,032			48,722			691,139			656,367			91,625
Cost of revenues		(310,117	)		(285,353	)		(39,834	)		(573,329	)		(533,195	)		(74,431	)
Gross profit		64,723			63,679			8,888			117,810			123,172			17,194
Operating expenses
Sales and marketing expenses		(189	)		(1,299	)		(181	)		(2,177	)		(3,412	)		(476	)
General and administrative expenses		(16,650	)		(21,027	)		(2,935	)		(36,580	)		(44,379	)		(6,195	)
Research and development expenses		(17,534	)		(17,437	)		(2,434	)		(39,061	)		(36,999	)		(5,165	)
Provision for credit losses		(1,769	)		(646	)		(90	)		(1,126	)		(1,400	)		(195	)
Total operating expenses		(36,142	)		(40,409	)		(5,640	)		(78,944	)		(86,190	)		(12,031	)
Income from operations		28,581			23,270			3,248			38,866			36,982			5,163
Change in fair value of investment in marketable security		6,991			(6,758	)		(943	)		3,764			(31,092	)		(4,340	)
Investment loss		(1,114	)		(559	)		(78	)		(3,354	)		(971	)		(136	)
Interest income, net		449			457			64			2,428			996			139
Other income, net		575			7,639			1,066			688			9,072			1,266
Foreign exchange gain (loss), net		974			(1,614	)		(225	)		1,508			(2,630	)		(367	)
Income before income taxes		36,456			22,435			3,132			43,900			12,357			1,725
Income tax (expenses) benefits		(3,035	)		272			38			(7,673	)		(2,608	)		(364	)
Net income		33,421			22,707			3,170			36,227			9,749			1,361
Less: net (loss) income attributable to noncontrolling interest		(1,919	)		124			17			(5,693	)		(3,744	)		(523	)
Net income attributable to the Company’s shareholders		35,340			22,583			3,153			41,920			13,493			1,884

Other comprehensive (loss) income:
Other comprehensive (loss) income - foreign currency translation adjustment		(172	)		672			94			(608	)		995			139
Comprehensive income		33,249			23,379			3,264			35,619			10,744			1,500
Less: comprehensive (loss) income attributable to non-controlling interests		(1,919	)		343			48			(5,693	)		(3,574	)		(499	)
Comprehensive income attributable to the Company’s shareholders		35,168			23,036			3,216			41,312			14,318			1,999

Weighted average number of shares
Basic		41,164,872			41,591,911			41,591,911			41,164,872			41,578,079			41,578,079
Diluted		41,334,310			41,669,236			41,669,236			41,461,415			41,655,404			41,655,404
Earnings per share
Basic		0.86			0.54			0.08			1.02			0.32			0.05
Diluted		0.85			0.54			0.08			1.01			0.32			0.05

	For the three months ended									For the six months ended
	June 30,			June 30,			June 30,			June 30,			June 30,			June 30,
	2024			2025			2025			2024			2025			2025
	RMB			RMB			US$			RMB			RMB			US$
Net income attributable to the Company’s shareholders		35,340			22,583			3,153			41,920			13,493			1,884
Less:
Share based compensation		(3,194	)		(2,322	)		(324	)		(5,629	)		(5,897	)		(823	)
Adjusted net income attributable to the Company’s shareholders*		38,534			24,905			3,477			47,549			19,390			2,707
Adjusted net income attributable to the Company’s shareholders per ordinary share*
Basic		0.94			0.60			0.08			1.16			0.47			0.07
Diluted		0.93			0.60			0.08			1.15			0.47			0.07

	For the six months ended June 30,
	2024			2025			2025
Amounts in thousands of RMB and US$	RMB			RMB			US$
Total revenue		691,139			656,367			91,625
Cost of revenues		(573,329	)		(533,195	)		(74,431	)
Gross profit		117,810			123,172			17,194
Sales and marketing expenses		(2,177	)		(3,412	)		(476	)
General and administrative expenses		(36,580	)		(44,379	)		(6,195	)
Research and development expenses		(39,061	)		(36,999	)		(5,165	)
Provision for credit losses		(1,126	)		(1,400	)		(195	)
Income from operations		38,866			36,982			5,163
Change in fair value of investment in marketable security		3,764			(31,092	)		(4,340	)
Investments loss		(3,354	)		(971	)		(136	)
Interest income, net		2,428			996			139
Other income, net		688			9,072			1,266
Foreign exchange gain (loss), net		1,508			(2,630	)		(367	)
Income before income taxes		43,900			12,357			1,725
Income tax expense		(7,673	)		(2,608	)		(364	)
Net income		36,227			9,749			1,361
Less: net loss attributable to non-controlling interest		(5,693	)		(3,744	)		(523	)
Net income attributable to the Company’s shareholders		41,920			13,493			1,884

	For the six months ended June 30
	2024			2025			2025
Amounts in thousands of RMB and US$	RMB			RMB			US$
Net cash provided by operating activities		351			50,972			7,116
Net cash used in investing activities		(16,915	)		(6,233	)		(870	)
Net cash provided by (used in) financing activities		355			(100	)		(14	)
Effect of foreign exchange rate changes on cash		(492	)		1,311			183
Net (decrease) increase in cash and cash equivalents		(16,701	)		45,950			6,415
Cash and cash equivalents at beginning of the period		205,465			252,540			35,253
Cash and cash equivalents at end of the period		188,764			298,490			41,668

Trademark		10 years
Patent		10 years
Copyright		10 years
Software		3 to 10 years
Licenses acquired		3 years to infinite life

		Page
Unaudited Condensed Consolidated Balance Sheets as of December 31, 2024 and June 30, 2025		F-2
Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income for the Six Months Ended June 30, 2024 and 2025		F-3
Unaudited Condensed Consolidated Statements of Changes in Equity for the Six Months Ended June 30, 2024 and 2025		F-4
Unaudited Condensed Six Months Ended June 30, 2024 and 2025		F-5
Notes to the Unaudited Condensed Consolidated Financial Statements		F-6

	As of December 31,			As of June 30,
	2024			2025			2025
	RMB			RMB			US$
ASSETS
Current assets
Cash and cash equivalents		252,540			298,490			41,668
Accounts receivable, net		226,060			222,704			31,088
Prepaid expenses and other current assets		28,415			29,080			4,059
Amounts due from related parties		-			100			14
Investment in marketable security		37,629			6,537			913
Total current assets		544,644			556,911			77,742

Non-current assets
Property and equipment, net		1,981			1,507			210
Intangible assets, net		405,256			401,786			56,087
Goodwill		182,661			183,138			25,565
Long term investments		257,387			262,214			36,604
Long term deposits and other assets		906			839			117
Right-of-use assets-operating lease		4,845			17,795			2,484
Deferred tax assets		7,505			7,613			1,063
Total non-current assets		860,541			874,892			122,130
TOTAL ASSETS		1,405,185			1,431,803			199,872

LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Accounts payable		36,015			39,041			5,450
Accrued salary and employee benefits		22,346			10,382			1,449
Accrued expenses and other current liabilities		6,840			4,602			642
Income tax payable		11,284			12,364			1,726
Lease liabilities-operating lease -current		4,098			4,612			644
Deferred revenue		80,186			89,198			12,452
Total current liabilities		160,769			160,199			22,363

Non-current liabilities
Deferred tax liabilities		58,400			57,691			8,053
Lease liabilities-operating lease -non-current		700			11,956			1,669
Total non-current liabilities		59,100			69,647			9,722
TOTAL LIABILITIES		219,869			229,846			32,085

Commitments and contingencies

EQUITY
Ordinary share, no par value, unlimited Class A ordinary shares and Class B ordinary shares authorized, 38,922,726 Class A ordinary shares and 2,925,058 Class B ordinary shares issued and outstanding as of December 31, 2024, respectively; 39,412,710 Class A ordinary shares and 2,925,058 Class B ordinary shares issued and outstanding as of June 30, 2025, respectively.
Class A ordinary shares		444,162			450,059			62,826
Class B ordinary shares		23,896			23,896			3,336
Shares to be issued		20,817			20,817			2,906
Treasury stocks		(19,952	)		(19,952	)		(2,785	)
Statutory reserves		50,705			51,195			7,147
Retained earnings		662,499			675,502			94,296
Accumulated other comprehensive income		16,967			17,792			2,483
Total shareholders’ equity		1,199,094			1,219,309			170,209
Non-controlling interests		(13,778	)		(17,352	)		(2,422	)
Total equity		1,185,316			1,201,957			167,787
TOTAL LIABILITIES AND EQUITY		1,405,185			1,431,803			199,872

	Ordinary shares				Shares to be			Treasury stocks						Statutory		Retained			Accumulated other comprehensive			Non- controlling			Total
	Shares		Amount		issued			shares			Amount			reserves		earnings			Income			interests			equity
			RMB		RMB						RMB			RMB		RMB			RMB			RMB			RMB
Balance as of December 31, 2023		41,038,937		447,519		30,777			(913,845	)		(19,216	)		44,698		628,821			17,965			(837	)		1,149,727
Net income		-		-		-			-			-			-		41,920			-			(5,693	)		36,227
Issuance of shares for achievement of earnout target		403,089		9,960		(9,960	)		-			-			-		-			-			-			-
Share-based compensation		403,829		5,629		-			-			-			-		-			-			-			5,629
Appropriation to statutory reserves		-		-		-			-			-			3,342		(3,342	)		-			-			-
Foreign currency translation adjustments		-		-		-			-			-			-		-			(608	)		(12	)		(620	)
Balance as of June 30, 2024		41,845,855		463,108		20,817			(913,845	)		(19,216	)		48,040		667,399			17,357			(6,542	)		1,190,963

Subsidiaries	Date of incorporation	Place of incorporation	Percentage of direct/indirect ownership	Principal activities
Scienjoy Inc.	February 23, 2017	Cayman Islands	100%	Holding Company
Scienjoy Pte. Ltd. (“Scienjoy SG”)	July 25, 2023	Singapore	100%	Holding Company
Scienjoy International Limited (“Scienjoy HK”)	May 18, 2017	Hong Kong	100%	Holding Company
Scienjoy BeeLive Limited (formerly known as Sciscape International Limited, “SIL”)	December 18, 2017	Hong Kong	100%	Live streaming platform
Golden Shield Enterprises Limited (“Golden Shield”)	September 28, 2021	British Virgin Islands	100%	Holding Company
Scienjoy Verse Tech Ltd (“Scienjoy Verse”) (a 51% owned subsidiary of Scienjoy SG)	September 18, 2023	Dubai	51%	Holding Company
Scienjoy Meta Technology LLC (“Scienjoy Meta”) (a wholly owned subsidiary of Scienjoy Verse)	October 3, 2023	Dubai	51%	Metaverse business
Scenovo Pte. Ltd. (“Scenovo SG”) (a 51% owned subsidiary of Scienjoy SG)	April 11, 2024	Singapore	51%	Holding Company
SJ Verse Global Media LLC (“SJ Verse”) (a 90% owned subsidiary of Scenovo SG)	May 20, 2020	Dubai	45.9%	Multi-channel network business
Techjoy Pte. Ltd. (“Techjoy SG”) (a 70% owned subsidiary of Scenovo SG)	May 31, 2024	Singapore	35.7%	Multi-channel network business
Fashionfly Limited (a wholly owned subsidiary of Scenovo SG)	April 14, 2025	Hong Kong	51%	Multi-channel network business
Star Home Global Media FZ-LLC (a 70% owned subsidiary of Scenovo SG)	December 05, 2024	Dubai	35.7%	Multi-channel network business
Sixiang Wuxian (Beijing) Technology Co., Ltd. (“WXBJ”) (a wholly owned subsidiary of Scienjoy HK)	October 17, 2017	The PRC	100%	Holding Company
Sixiang Zhihui (Beijing) Technology Co., Ltd. (“ZH”) (a wholly owned subsidiary of WXBJ)	July 5, 2018	The PRC	100%	Holding Company

	RMB
Cash acquired		28
Prepaid expenses and other current assets		662
Goodwill		578
Total assets		1,268

Current liabilities		1,268
Non-current liabilities		-
Total liabilities		1,268
30% Equity Value with non-controlling interests		-
Total consideration		-

	As of December 31,		As of June 30,
	2024		2025		2025
	RMB		RMB		US$
Accounts receivable		231,742		229,785		32,076
Less: allowance for credit losses		(5,682)		(7,081)		(988)
Accounts receivable, net		226,060		222,704		31,088

	For the year ended December 31,		For the six months ended June 30,
	2024		2025			2025
	RMB		RMB			US$
Beginning balance		5,097		5,682			793
Additions		584		1,400			195
Exchange difference		1		(1	)		-
Ending balance		5,682		7,081			988

	For the six months ended June 30,
	2024		2025

Showself		57,294		46,724
Lehai		92,680		70,060
Haixiu		55,540		61,556
Beelive		37,053		33,221
Hongle		41,509		42,327
TOTAL		284,076		253,888

	For the six months ended June 30,
	2024		2025		2025
In RMB and US$	RMB		RMB		US$
Showself		2,436		3,552		496
Lehai		2,030		1,951		272
Haixiu		2,584		1,901		265
Beelive		3,009		3,581		500
Hongle		2,436		2,378		332
Overall average		2,407		2,518		352

	For the six months ended June 30,
	2024		2025		2025
Amounts in thousands of RMB and US$	RMB		RMB		US$
Revenue sharing fees		534,486		478,482		66,794
User acquisition costs		17,061		31,701		4,425
Bandwidth related costs		5,338		2,622		366
Others		16,444		20,390		2,846
TOTAL		573,329		533,195		74,431

	Amortization		Amortization
Twelve months ending June 30,	RMB		US$
2026		5,818		812
2027		5,394		753
2028		5,073		708
2029		5,059		706
2030		5,065		707
Thereafter		3,777		527
Total		30,186		4,213

	Equity investments accounted for using the equity method(ii)			Cost method investments without readily determinable fair value(i)			Total
	RMB			RMB			RMB
Balance as of January 1, 2024		162,430			91,981			254,411
Additions		-			19,500			19,500
Decrease		-			(444	)		(444	)
Share of loss in equity method investee		(5,742	)		-			(5,742	)
Exchange difference		87			-			87
Impairment		-			(10,425	)		(10,425	)
Balance as of December 31, 2024		156,775			100,612			257,387

	RMB			US$
Twelve months ending June 30,
2026		5,115			714
2027		3,541			494
2028		3,614			504
2029		3,686			515
2030		1,861			260
Total future minimum lease payments		17,817			2,487
Less: imputed interest		(1,249	)		(174	)
Present value of lease liabilities		16,568			2,313

	For the six months ended June 30,
	2024		2025			2025
	RMB		RMB			US$
Current income tax expense		6,225		3,439			480
Deferred income tax expense (benefit)		1,448		(831	)		(116	)
Income tax expenses		7,673		2,608			364

	As of December 31,		As of June 30,
	2024		2025		2025
	RMB		RMB		US$
Deferred tax assets:
Allowance for credit losses		3,870		4,163		581
Net operating losses carried forward		3,635		3,450		482
Total deferred tax assets		7,505		7,613		1,063

Name of Related Parties		Relationship with the Company
Mr. He Xiaowu		Chief Executive Officer and Chairman of the Board
Beijing Junwei Technology Co., Ltd		Controlling shareholder of QY
Sixiang Zhuohong Private Equity LP		Equity investee of the Company