Scienjoy H1 2026: Revenue Down 10%, Net Income Up 93%, Leader Education Stake Closed
SJ sits 78% above its 52-week low of $0.45 on light trading volume (0.1× avg).
Summary
Scienjoy's H1 2026 revenue fell 10% to RMB588.1 million (US$86.7 million) on a 23% drop in paying users, but net income rose 92.7% to RMB18.8 million mainly because last year's RMB31.1 million investment markdown did not repeat. Cash stands at RMB329.9 million (US$48.6 million), and the 29.9% Leader Education stake closed October 15, 2026 for HK$102.69 million.
Key Events · Earnings and Guidance · SJ
-
H1 Revenue Falls 10% on User Decline
Total revenue was RMB588.1 million (US$86.7 million) versus RMB656.4 million a year earlier; paying users dropped about 23% to 196,374, partly offset by ARPPU rising to RMB2,908 from RMB2,518.
-
Net Income Up 93% on Non-Operating Swing
Net income rose to RMB18.8 million (US$2.8 million) from RMB9.7 million, but income from operations fell to RMB24.1 million from RMB37.0 million; the gain came from the fair-value loss on a marketable security shrinking to RMB5.2 million from RMB31.1 million.
-
Q2 Profit Roughly Halved
Second-quarter net income fell to RMB11.2 million (US$1.7 million) from RMB22.7 million, with revenue of RMB305.4 million (US$45.0 million) versus RMB349.0 million.
-
Cash Rises to RMB329.9 Million
Cash and cash equivalents were RMB329.9 million (US$48.6 million) at June 30, 2026, up RMB22.3 million from RMB307.7 million at December 31, 2025, with operating cash flow of RMB24.2 million for the half.
Analysis · SJ · Technology
Revenue is shrinking — H1 2026 total revenue fell to RMB588.1 million (US$86.7 million) from RMB656.4 million as paying users dropped about 23% to 196,374 — but the bottom line improved sharply because last year's RMB31.1 million mark-to-market loss on a marketable security did not repeat (only RMB5.2 million this year). That swing, not operations, is why net income rose 92.7% to RMB18.8 million while income from operations fell to RMB24.1 million from RMB37.0 million. The balance sheet is the real story: RMB329.9 million (US$48.6 million) of cash, up RMB22.3 million in six months, against a market cap of roughly US$36 million — the stock trades below the cash pile, and management is deploying it into stakes (Leader Education 29.9% for HK$102.69 million, closed October 15, 2026; plus RMB70 million into Puhong and HK$45 million into Ventus). Watch whether the livestreaming user decline stabilizes and whether these minority stakes produce returns rather than further fair-value swings.
How filings like this one have moved
In the 30 days to Oct 26, 2026, 29.9% of the 1374 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.12%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, SJ was trading at $0.80 on NASDAQ in the Technology sector, with a market capitalization of approximately $36.1M. The 52-week trading range was $0.45 to $1.63. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.