Scienjoy management attributes first-half 2026 revenue decline to fewer paying users
SJ•Scienjoy said first-half revenue fell to RMB 588.1 million as paying users declined about 23% to 196,374 amid competition. Net income rose 92.7% to RMB 18.8 million, supported by lower marketable-security fair-value losses.
1. First-half performance
Scienjoy attributed its first-half revenue decline to fewer paying users amid competition in China’s mobile livestreaming market. Paying users fell about 23% to 196,374, partly offset by average revenue per paying user rising to RMB 2,908. Gross margin declined to 17.9% from 18.8%, which management attributed to a higher revenue-sharing fee ratio in overseas mobile livestreaming.
2. Net income rises
Net income increased 92.7% to RMB 18.8 million for the six months ended June 30, 2026. Marketable-security fair-value losses narrowed to RMB 5.2 million from RMB 31.1 million.
