Scienjoy Holding Corporation Reports Nine Months ended September 30, 2025 Unaudited Financial Results

Revenue decrease by 5.3% but Income from Operations up 30.9% Year Over Year

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, 2025.

Nine Months2025Operating and Financial Summaries

— Total revenues decreased to RMB959.3 million (US$134.7 million) for the nine months ended September 30, 2025 from RMB1,012.5 million in the same period of 2024.

— Gross profit decreased to RMB177.9 million (US$25.0 million) for the nine months ended September 30, 2025 from RMB179.6 million in the same period of 2024.

— Income from operations increased by 30.9% to RMB46.2 million (US$6.5 million) for the nine months ended September 30, 2025 from RMB35.3 million in the same period of 2024.

— Net income decreased to RMB14.9 million (US$2.1 million) for the nine months ended September 30, 2025 from RMB34.2 million in the same period of 2024.

— Net income attributable to the Company's shareholders decreased to RMB20.2 million (US$2.8 million) for the nine months ended September 30, 2025 from RMB42.7 million in the same period of 2024.

— Adjusted net income attributable to the Company's shareholders decreased to RMB26.7 million (US$3.8 million) for the nine months ended September 30, 2025 from RMB50.8 million in the same period of 2024.

— As of September 30, 2025, the Company had RMB254.1 million (US$35.7 million) in cash and cash equivalents, which represented an increase of RMB1.5 million from RMB252.5 million as of December 31, 2024.

Mr. Victor He, Chairman and Chief Executive Officer of Scienjoy, commented,”In the first nine months of 2025, we continued to strengthen our 'live streaming + gaming' ecosystem strategy by leveraging artificial intelligence to enhance user experience and improve both platform performance and internal operational efficiency. Our ongoing integration of AI technologies enables more dynamic user interactions, and streamlined management processes that drive higher productivity across the organization.

Building on this momentum, we are expandingAI Vista, our AIGC-driven creative platform, intoAI Vista Live- extending AI-powered interaction to both consumers and enterprise users.AI Vista Livecombines real-time digital human performance with creative content generation, unlocking new possibilities for entertainment, education, marketing, and corporate engagement.

At the same time, our global expansion continues to advance steadily,driven by our unwavering commitment to evolving from a domestic interactive entertainment leader into a global AI-poweredecosystem platform. Looking ahead, we will remain focused on deepening AI innovation, enhancing operational efficiency, and creating long-term value for our users, partners, and shareholders worldwide.”

Mr. Denny Tang, Chief Financial Officer of Scienjoy, added, “The nine-month results demonstrate both the resilience and balance of our business strategy. Despite non-recurring losses related to investment buyback receivables, fair value changes in security investments, and foreign exchange fluctuations, our operating income maintained a robust year-over-year growth rate of 30.9%, even amid a 5.3% decline in revenue. Our improved gross margin further underscores our profitability and resilience against external headwinds. These key metrics reflect the health of our business and our ability to convert an expanding user base into real profit.

With stable cash reserves, we maintain ample liquidity to support ongoing innovation and global expansion. Going forward, we remain firmly committed to our long-term strategy of global growth and continuous innovation in content and technology, delivering sustainable value for both our company and our shareholders.”

Nine Months2025Financial Results

Total revenuesdecreased to RMB959.3million (US$134.7million) for the nine months ended September 30, 2025, fromRMB1,012.5 millionin the same period of 2024, primarily caused by a decrease of paying users due to competitive landscape of China's mobile live streaming market. Total paying users were 332,408 for the ninemonths endedSeptember 30, 2025, compared to 386,455 in the same period of 2024.

Cost of revenuesdecreased to RMB781.3million (US$109.8million) for the nine months ended September 30, 2025from RMB832.9 million in the same period of 2024. The decrease was primarily attributable to a decrease of RMB75.6 million in the Company's revenue sharing fees, partially offset by an increase of RMB22.7 million in user acquisition costs.

Gross profitdecreased toRMB177.9 million(US$25.0million) for the nine months ended September 30, 2025fromRMB179.6 millionin the same period of 2024and the gross margin increased to 18.5% for the nine months ended September 30, 2025from 17.7% in the same period of last year due to higher average live streaming revenue per paying user and lower revenue sharing fees during the ninemonths ended September30, 2025, showing the Company's effectiveness in converting high-quality paying user to its gross margingrowth.

Total operating expenses decreased toRMB131.7million(US$18.5million) for the nine months ended September 30, 2025fromRMB144.3 millionin the same period of 2024.

— Sales and marketing expenses increased by 36.6% to RMB4.6 million (US$0.7 million) for the nine months ended September 30, 2025 from RMB3.4 million in the same period of 2024, primarily attributable to more sales and marketing activities.

— General and administrative expenses increased by 25.1% to RMB65.6 million (US$9.2 million) for the nine months ended September 30, 2025 from RMB52.5 million in the same period of 2024, primarily caused by an increase of RMB11.7 million in professional consulting fee.

— Research and development expenses increased by 5.1% to RMB60.7 million (US$8.5 million) for the nine months ended September 30, 2025 from RMB57.8 million in the same period of 2024. The increase was primarily due to an increase of RMB8.1 million in technical services fees, partially offset by a decrease of RMB4.4 million in employee salary and welfare.

— Provision for credit losses decreased to RMB0.7 million (US$0.1 million) for the nine months ended September 30, 2025 from RMB30.6 million in the same period of 2024, due to a one-time write-off of RMB30.0 million in investment buyback receivable for the nine months ended September 30, 2024.

Income from operationsincreased by 30.9% toRMB46.2million(US$6.5million) for the nine months ended September 30, 2025fromRMB35.3 millionin the same period of 2024.

Change in fair value of investment in marketable security was a loss of RMB31.3million (US$4.4million) for the nine months ended September 30, 2025,as compared with a gain of RMB12.1 million in the same period of 2024. The change was primarily attributable to the fair value changes in investments in a publicly traded company.

Investment loss decreased to RMB1.1million (US$0.2million) for the nine months ended September 30, 2025from RMB4.4 million in the same period of 2024. The investment loss was primarily attributable to one-time share of unrealized loss in the long-term investments.

Interest income, net decreased to RMB1.3million (US$0.2 million) for the nine months ended September 30, 2025 from RMB2.8million in the same period of 2024. The decrease was primarily due to lower interest rate.

Other income, netincreased by 1,226.9% to RMB9.5million (US$1.3 million) for the nine months ended September 30, 2025 from RMB0.7 million in the same period of 2024. The increase was primarily due to increased government subsidies and one-time compensation income. There is no assurance that the Company will continue to receive these subsidies in the future.

Foreign exchange loss, net increased by 289.4% to RMB4.0million (US$0.6million) for the nine months ended September 30, 2025 from RMB1.0million in the same period of 2024.

Income tax expenses decreased to RMB5.7million (US$0.8million)for the nine months ended September 30, 2025from RMB11.2 million in the same period of 2024, which was mainly due to less taxable income.

Net incomedecreased to RMB14.9million(US$2.1million) for the nine months ended September 30, 2025from RMB34.2 millionin the same period of 2024as a result of the foregoing.

Net incomeattributable to the Company's shareholdersdecreased to RMB20.2million(US$2.8million) for the nine months ended September 30, 2025 from RMB42.7 millionin the same period of 2024.

Adjusted net income attributable to the Company's shareholdersdecreased to RMB26.7 million(US$3.8million) for the nine months ended September 30, 2025fromRMB50.8 millionin the same period of 2024.

Basic and diluted net income per ordinary sharewere both RMB0.49(US$0.07) for the nine months ended September 30, 2025. In comparison, basic and diluted net income per ordinary share were both RMB1.03in the same period of 2024.

Adjusted basic and diluted net income per ordinary sharewere both RMB0.64(US$0.09) for the nine months ended September 30, 2025. In comparison, adjusted basic and diluted net incomeper ordinary share were both RMB1.23in the same period of 2024.

As of September 30, 2025, the Company had RMB254.1million (US$35.7million) in cash and cash equivalents, which represented an increase of RMB1.5million from RMB252.5 million as of December 31, 2024.

About Scienjoy Holding Corporation

Scienjoy is a pioneering Nasdaq-listed interactive entertainment leader. Driven by the vision of shaping a metaverse lifestyle, Scienjoy leverages AI-powered technology to create immersive experiences that resonate with global audiences, fostering meaningful connections and redefining entertainment. For more information, please visit http://ir.scienjoy.com/.

Use of Non-GAAP Financial Measures

Adjusted net incomeattributable to the Company's shareholders is calculated as net income attributable to the Company's shareholders adjusted for share-based compensation. Adjusted basic and diluted net income per ordinary share is non-GAAP net income (loss) attributable to ordinary shareholders divided by weighted average number of ordinary shares used in the calculation of non-GAAP basic and diluted net income per ordinary share. The non-GAAP financial measures are presented to enhance investors' overall understanding of the Company's financial performance and should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with U.S. GAAP. Investors are encouraged to review the reconciliation of the historical non-GAAP financial measures to its most directly comparable GAAP financial measures. As non-GAAP financial measures have material limitations as analytical metrics and may not be calculated in the same manner by all companies, they may not be comparable to other similarly titled measures used by other companies. In light of the foregoing limitations, you should not consider non-GAAP financial measures as a substitute for, or superior to, such metrics in accordance with US GAAP.

For more information on these non-GAAP financial measures, please see the table captioned “Reconciliations of Non-GAAP Results” near the end of this release.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB7.1190 to US$1.00, the noon buying rate in effect on September 30, 2025, in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB amounts could have been, or could be, converted, realized or settled in U.S. dollars at that rate on September 30, 2025, or at any other rate.

Safe Harbor Statement

Certain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: the ability to manage growth; ability to identify and integrate other future acquisitions; ability to obtain additional financing in the future to fund capital expenditures; fluctuations in general economic and business conditions; costs or other factors adversely affecting our profitability; litigation involving patents, intellectual property, and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in the Company's filings with the Securities and Exchange Commission (“SEC”) from time to time. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Such information speaks only as of the date of this release.

For investor and media inquiries, please contact:

Investor Relations Contacts

Denny Tang Chief Financial Officer Scienjoy Holding Corporation +86-10-64428188 ir@scienjoy.com

Ascent Investor Relations LLC

Tina Xiao +1-646-932-7242 investors@ascent-ir.com

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS(All amounts in thousands, except share and per share data or otherwise stated) As of As of December31, September30, 2024 2025 2025 RMB RMB US$ASSETSCurrent assetsCash and cash equivalents 252,540 254,081 35,691Accounts receivable, net 226,060 186,551 26,205Prepaid expenses and other current assets 28,415 32,373 4,547Amounts due from related parties – 100 14Investment in marketable security 37,629 6,293 884Total current assets 544,644 479,398 67,341Non-current assetsProperty and equipment, net 1,981 1,707 240Intangible assets, net 405,256 400,254 56,223Goodwill 182,661 183,063 25,715Long term investments 257,387 291,952 41,010Long term deposits and other assets 906 835 117Right-of-use assets-operating lease 4,845 16,252 2,283Deferred tax assets 7,505 7,280 1,023Total non-current assets 860,541 901,343 126,611TOTAL ASSETS 1,405,185 1,380,741 193,952LIABILITIES AND EQUITYCurrent liabilitiesAccounts payable 36,015 19,135 2,690Accrued salary and employee benefits 22,346 12,084 1,697Accrued expenses and other current liabilities 6,840 4,491 631Income tax payable 11,284 12,671 1,780Lease liabilities-operating lease -current 4,098 3,901 548Deferred revenue 80,186 50,972 7,160Total current liabilities 160,769 103,254 14,506Non-current liabilitiesDeferred tax liabilities 58,400 57,389 8,061Lease liabilities-operating lease -non-current 700 11,956 1,679Total non-current liabilities 59,100 69,345 9,740TOTAL LIABILITIES 219,869 172,599 24,246Commitments and contingenciesEQUITYOrdinary share, no par value, unlimited Class A ordinary shares and ClassB ordinary shares authorized, 38,922,726 Class A ordinary shares and2,925,058 Class B ordinary shares issued and outstanding as ofDecember 31, 2024, respectively; 39,412,710 Class A ordinary sharesand 2,925,058 Class B ordinary shares issued and outstanding as ofSeptember 30, 2025, respectively.Class A ordinary shares 444,162 450,626 63,299Class B ordinary shares 23,896 23,896 3,357Shares to be issued 20,817 20,817 2,924Treasury stocks (19,952) (19,952) (2,803)Statutory reserves 50,705 52,462 7,369Retained earnings 662,499 680,984 95,657Accumulated other comprehensive income 16,967 18,005 2,529Total shareholders' equity 1,199,094 1,226,838 172,332Non-controlling interests (13,778) (18,696) (2,626)TOTALEQUITY 1,185,316 1,208,142 169,706TOTAL LIABILITIES AND EQUITY 1,405,185 1,380,741 193,952UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS ANDCOMPREHENSIVE INCOME(All amounts in thousands, except share and per share data or otherwise stated) For the nine months ended September30, September30, September30, 2024 2025 2025 RMB RMB US$Live streaming – consumable virtual items revenue 981,002 918,930 129,081Live streaming – time based virtual items revenue 18,180 13,307 1,869Technical services and others 13,336 27,015 3,795Total revenues 1,012,518 959,252 134,745Cost of revenues (832,942) (781,334) (109,753)Gross profit 179,576 177,918 24,992Operating expensesSales and marketing expenses (3,397) (4,639) (652)General and administrative expenses (52,454) (65,619) (9,217)Research and development expenses (57,800) (60,719) (8,529)Provision for doubtful accounts (30,628) (722) (101)Total operating expenses (144,279) (131,699) (18,499)Income from operations 35,297 46,219 6,493Change in fair value of investment in marketable security 12,061 (31,336) (4,402)Investment loss (4,396) (1,079) (152)Interest income, net 2,800 1,291 181Other income, net 713 9,461 1,329Foreign exchange gain (loss), net (1,030) (4,011) (563)Income before income taxes 45,445 20,545 2,886Income tax expenses (11,242) (5,676) (797)Net income 34,203 14,869 2,089Less: net loss attributable to noncontrolling interest (8,488) (5,373) (755)Net income attributable to the Company's shareholders 42,691 20,242 2,844Other comprehensive income:Other comprehensive income – foreign currency translation 483 1,493 210adjustmentComprehensive income 34,686 16,362 2,299Less: comprehensive loss attributable to non-controlling interests (8,488) (4,918) (691)Comprehensive income attributable to the Company's 43,174 21,280 2,990shareholdersWeighted average number of shares:Basic 41,300,961 41,695,853 41,695,853Diluted 41,496,822 41,695,853 41,695,853Earnings per share:Basic 1.03 0.49 0.07Diluted 1.03 0.49 0.07Reconciliations of Non-GAAP Results(All amounts in thousands, except share and per share data or otherwise stated) For the nine months ended September30, September30, September30, 2024 2025 2025 RMB RMB US$Net income attributable to the Company's shareholders 42,691 20,242 2,844Less:Share-based compensation (8,149) (6,464) (908)Adjusted net income attributable to the Company's 50,840 26,706 3,752shareholders*Adjusted net incomeper ordinary shareBasic 1.23 0.64 0.09Diluted 1.23 0.64 0.09″Adjusted net income attributable to the Company's shareholders” is defined as netincome attributable to theCompany's shareholders excluding share-based compensation. For more information, refer to “Use of Non-GAAPFinancial Measures” and “Reconciliations of Non-GAAP Results” above.

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