Scienjoy Holding Corp 6-K, filed Jun 30, 2022

Scienjoy Holding Corp (SJ)

6-K 2022-06-30 For: 2022-03-31

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Added on April 06, 2026

About this 6-K

Scienjoy Holding Corp filed this 6-K on June 30, 2022.

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	Scienjoy Holding Corporation

Date: June 30, 2022	By:	/s/ Xiaowu He
	Name:	Xiaowu He
	Title:	Chief Executive Officer

Exhibit No.		Description
99.1		Press Release, dated June 30, 2022.

	As of December 31,		As of March 31,
	2021		2022		2022
	RMB		RMB		USD
ASSETS
Current assets
Cash and cash equivalents		240,947		205,362		32,395
Accounts receivable, net		206,307		222,375		35,079
Prepaid expenses and other current assets		165,409		79,446		12,532
Amounts due from related parties		1,059		2,052		324
Investment in marketable security		38,789		39,250		6,192
Total current assets		652,511		548,485		86,522

Property and equipment, net		1,674		1,782		281
Intangible assets, net		235,870		424,172		66,911
Goodwill		92,069		172,781		27,256
Long term investments		101,727		176,979		27,918
Long term deposits and other non-current assets		1,152		1,190		188
Deferred tax assets – non-current		4,352		4,145		654
Right of use assets		-		12,245		1,932
Total non-current assets		436,844		793,294		125,140
TOTAL ASSETS		1,089,355		1,341,779		211,662

LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Accounts payable		85,801		61,089		9,640
Accrued salary and employee benefits		24,533		30,182		4,761
Accrued expenses and other current liabilities		16,181		5,710		901
Current portion of contingent consideration – earn-out liability		10,638		17,538		2,767
Warrant liabilities		10,324		5,769		910
Income tax payable		8,282		13,711		2,163
Deferred revenue		65,405		80,891		12,760
Lease liability-current		-		4,377		690
Total current liabilities		221,164		219,267		34,592

Non-current liabilities
Deferred tax liabilities		58,746		62,299		9,827
Contingent consideration – earn-out liability		-		8,235		1,299
Lease liability-non-current		--		7,334		1,157
Total non-current liabilities		58,746		77,868		12,283
TOTAL LIABILITIES		279,910		297,135		46,875
Commitments and contingencies Shareholders’ equity
Ordinary share, no par value, unlimited shares authorized, 34,743,152 and 30,844,641 shares issued and outstanding as of March 31, 2022 and December 31, 2021, respectively
Class A ordinary shares		140,196		292,205		46,094
Class B ordinary shares		13,041		13,041		2,057
Shares to be issued		128,119		128,119		20,210
Statutory reserves		31,775		35,971		5,674
Retained earnings		479,199		558,229		88,058
Accumulated other comprehensive income		17,115		17,079		2,694
Total shareholders’ equity		809,445		1,044,644		164,787
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		1,089,355		1,341,779		211,662

	For three months ended
	March 31,			March 31,			March 31,
	2021			2022			2022
	RMB			RMB			US$
Live streaming - consumable virtual items revenue		354,236			445,339			70,250
Live streaming - time based virtual items revenue		9,098			7,465			1,178
Technical services		1,697			10,641			1,679
Total revenues		365,031			463,445			73,107

Cost of revenues		(284,892	)		(348,969	)		(55,049	)

Gross profit		80,139			114,476			18,058

Operating expenses
Sales and marketing expenses		(1,104	)		(584	)		(92	)
General and administrative expenses		(8,847	)		(19,108	)		(3,014	)
Recovery of (provision for) doubtful accounts		(448	)		259			41
Research and development expenses		(9,563	)		(16,815	)		(2,653	)
Total operating expenses		(19,962	)		(36,248	)		(5,718	)
Income from operations		60,177			78,228			12,340

Change in fair value of contingent consideration		(11,778	)		4,740			748
Change in fair value of warrants liability		(778	)		4,499			710
Change in fair value of investment		26,168			712			112
Interest income		738			496			78
Interest expense		(117	)		-			-
Other expenses, net		-			60			9
Foreign exchange gain (loss), net		(93	)		60			9

Income before income taxes		74,317			88,795			14,006

Income tax expenses		(3,359	)		(5,569	)		(878	)

Net income		70,958			83,226			13,128
Other comprehensive income - foreign currency translation adjustment		(486	)		(36	)		(6	)
Comprehensive income attributable to the Company’s shareholders		70,472			83,190			13,122

Weighted average number of shares
Basic		30,582,611			35,612,100			35,612,100
Diluted		30,582,611			35,612,100			35,612,100
Earnings per share
Basic		2.32			2.34			0.37
Diluted		2.32			2.34			0.37

	For the three months ended
	March 31,			March 31,			March 31,
	2021			2022			2022
	RMB			RMB			US$

Net income		70,958			83,226			13,128
Less:
Change in fair value of contingent consideration		(11,778	)		4,740			748
Change in fair value of warrants liability		(778	)		4,499			710
Share based compensation		-			(3,726	)		(588	)
Adjusted net income *		83,514			77,713			12,258

Adjusted net income per ordinary share*
Basic		2.73			2.18			0.34
Diluted		2.73			2.18			0.34