Scienjoy Holding Corporation reported revenue of RMB 959.3 million (US$134.7 million) for the nine months ended September 30, 2025, a 5.3 % decline from RMB 1,012.5 million (US$142.4 million) in the same period a year earlier. The drop reflects a reduction in paying users amid intensified competition in China’s live‑streaming market.
Operating income rose 30.9 % to RMB 46.2 million (US$6.5 million) from RMB 35.3 million (US$5.0 million) year‑over‑year, driven by tighter cost control and a higher gross‑margin percentage. Gross profit fell modestly to RMB 177.9 million (US$25.0 million) from RMB 179.6 million (US$25.3 million), but the margin improved to 18.5 % from 17.7 % thanks to lower revenue‑sharing fees and a higher average revenue per paying user.
Net income declined, largely due to investment losses and foreign‑exchange fluctuations. Other income increased, supported by government subsidies and one‑time compensation income, offsetting some of the pressure on the bottom line.
Cash and cash equivalents stood at RMB 254.1 million (US$35.7 million) as of September 30, 2025, providing a solid liquidity cushion. Management highlighted continued investment in AI‑driven content and global expansion, positioning the company to convert a shrinking user base into higher‑margin revenue streams.
CEO Victor He emphasized the company’s “live streaming + gaming” ecosystem strategy, noting that artificial intelligence is enhancing user experience and improving both platform performance and internal operational efficiency. He underscored the company’s focus on profitability and strategic growth amid a competitive market.
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