Scienjoy Holding Corp
Business
Scienjoy Holding Corp is a provider of mobile show live streaming platforms that operates interactive live video communities connecting professional broadcasters and users. Its main offerings include multiple mobile applications delivering real-time live streaming, virtual currency and virtual items, broadcaster training and agency cooperation, content moderation and technology/operation services. The company’s business is organized around multiple platform products — including Showself, Lehai, Haixiu, BeeLive (Chinese and International) and Hongle — and related technology and service operations. It serves primarily the PRC market and distributes its apps through mobile app stores and third‑party marketing channels while also expanding into Southeast Asia, the Middle East and other international markets.
Summary from filing dated 2025-04-22
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2019 2019-12-31 |
|---|---|---|
| Operating costs | 936,745 | |
| Loss from operations | −936,745 | |
| Interest income on marketable securities held in Trust Account | 1 | |
| Unrealized gain on marketable securities held in Trust Account | 3,028 | |
| Net income (loss) | 151,393 | |
| Weighted average shares outstanding, basic and diluted | 2 | |
| Basic and diluted net loss per ordinary share | −0.35 |
Consolidated Balance Sheet
| Concept | Trend | FY 2019 2019-12-31 | FY 2018 2018-12-31 | FY 2018 2018-04-30 |
|---|---|---|---|---|
| Cash | 11,610 | 52,937 | — | |
| Prepaid expenses | 833 | — | — | |
| Total Current Assets | 12,443 | 52,937 | — | |
| Marketable securities held in Trust Account | 59 | — | — | |
| Deferred offering costs | — | 314,146 | — | |
| Total Assets | 59 | 367,083 | — | |
| Accounts payable and accrued expenses | 221,909 | — | — | |
| Advance from related party | — | 12,820 | — | |
| Promissory note - related party | — | 390,000 | — | |
| Total Current Liabilities | 221,909 | 402,820 | — | |
| Promissory note - related party | 465,641 | — | — | |
| Deferred underwriting fees | 2 | — | — | |
| Total Liabilities | 3 | 402,820 | — | |
| Commitments | — | — | — | |
| Ordinary shares subject to possible redemption, 4,995,517 shares at redemption value at December 31, 2019 | 51 | — | — | |
| Ordinary shares, no par value; unlimited shares authorized; 2,461,983 and 1,437,500 shares issued and outstanding (excluding 4,995,517 and no shares subject to possible redemption) at December 31, 2019 and 2018, respectively | 5 | 25,100 | — | |
| Retained earnings/(Accumulated deficit) | 90,556 | −60,837 | — | |
| Total Shareholders' Equity (Deficit) | 5 | −35,737 | — | |
| Total Liabilities and Shareholders' Equity (Deficit) | 59 | 367,083 | — |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2019 2019-12-31 |
|---|---|---|
| Prepaid expenses | −833 | |
| Accounts payable and accrued expenses | 221,909 | |
| Net cash used in operating activities | −715,669 | |
| Investment of cash in Trust Account | −58 | |
| Net cash used in investing activities | −58 | |
| Proceeds from sale of Units, net of underwriting discount paid | 56 | |
| Proceeds from sale of Private Units | 3 | |
| Proceeds from sale of unit purchase option | 100 | |
| Proceeds from issuance of ordinary shares to initial shareholders | — | |
| Proceeds from promissory note - related party | 100,831 | |
| Repayment of promissory note - related party | −50,831 | |
| Advances from related party | 12,821 | |
| Payment of offering costs | −363,579 | |
| Net cash provided by financing activities | 58 | |
| Net change in cash | −41,327 | |
| Initial classification of ordinary shares subject to possible redemption | 51 | |
| Change in value of ordinary shares subject to possible redemption | 159,789 | |
| Deferred underwriting fee payable | 2 | |
| Conversion of advances and short-term promissory notes to long-term promissory notes | 415,641 |