XML 54 R31.htm IDEA: XBRL DOCUMENT v3.25.1
Organization and Principal Activities (Tables)
12 Months Ended
Dec. 31, 2024
Organization and Principal Activities [Abstract]  
Schedule of Subsidiaries of the Company and VIEs

Subsidiaries and VIEs include the following:

 

Subsidiaries  Date of
incorporation
  Place of
incorporation
  Percentage of
direct/indirect
ownership
   Principal
activities
Scienjoy Inc.  February 23, 2017  Cayman Islands  100%   Holding Company
Scienjoy Pte. Ltd. (“Scienjoy SG”)  July 25, 2023  Singapore  100%   Holding Company
Scienjoy International Limited (“Scienjoy HK”)  May 18, 2017  Hong Kong  100%   Holding Company
Scienjoy BeeLive Limited (formerly known as Sciscape International Limited, “SIL”)  December 18, 2017  Hong Kong  100%   Live streaming platform
Golden Shield Enterprises Limited (“Golden Shield”)  September 28, 2021  British Virgin Islands  100%   Holding Company
Scienjoy Verse Tech Ltd (“Scienjoy Verse”) (a 51% owned subsidiary of Scienjoy SG) (1)  September 18, 2023  Dubai  51%   Holding Company
Scienjoy Meta Technology LLC (“Scienjoy Meta”) (a wholly owned subsidiary of Scienjoy Verse)  October 3, 2023  Dubai  51%   Metaverse business
Scenovo Pte. Ltd. (“Scenovo SG”) (a 51% owned subsidiary of Scienjoy SG)  April 11, 2024  Singapore  51%   Holding Company
SJ Verse Global Media LLC (“SJ Verse”) (a 90% owned subsidiary of Scenovo SG) (2)  May 20, 2020  Dubai  45.9%   Multi-channel network business
Techjoy Pte. Ltd. (“Techjoy SG”) (a 70% owned subsidiary of Scenovo SG)  May 31, 2024  Singapore  35.7%   Multi-channel network business
Sixiang Wuxian (Beijing) Technology Co., Ltd. (“WXBJ”) (a wholly owned subsidiary of Scienjoy HK)  October 17, 2017  The PRC  100%   Holding Company
Sixiang Zhihui (Beijing) Technology Co., Ltd. (“ZH”) (a wholly owned subsidiary of WXBJ)  July 5, 2018  The PRC  100%   Holding Company
Sixiang Yingyue (Shanghai) Technology Co., Ltd(“SXYY”) (a wholly owned subsidiary of WXBJ)  June 30, 2022  The PRC  100%   Information technology
Subsidiaries  Date of
incorporation
  Place of
incorporation
  Percentage of
direct/indirect
ownership
   Principal
activities
Holgus Sixiang Information Technology Co., Ltd. (“Holgus X”) (a wholly owned subsidiary of ZH)  May 9, 2017  The PRC  100%   Live streaming platform
Kashgar Sixiang Times Internet Technology Co., Ltd. (“Kashgar Times”) (a wholly owned subsidiary of ZH)  March 2, 2016  The PRC  100%   Live streaming platform
Kashgar Sixiang Lehong Information Technology Co., Ltd (“Kashgar Lehong”) (a wholly owned subsidiary of ZH)  July 23, 2020  The PRC  100%   Information technology
Holgus Sixiang Haohan Internet Technology Co., Ltd. (“Holgus H”) (a wholly owned subsidiary of ZH)  December 11, 2020  The PRC  100%   Information technology
Sixiang ZhiHui (Hainan) Technology Co., Ltd (“ZHHN”) (a wholly owned subsidiary of ZH)  December 23, 2020  The PRC  100%   Live streaming platform
Sixiang Wuxian (Zhejiang) Culture Technology Co., Ltd (“WXZJ”) (a wholly owned subsidiary of Scienjoy HK)  April 28, 2022  The PRC  100%   Information technology
Sixiang Zhihui (Zhejiang) Culture Technology Co., Ltd (“ZHZJ”) (a wholly owned subsidiary of WXZJ)  January 4, 2022  The PRC  100%   Information technology
VIEs             
Zhihui Qiyuan (Beijing) Technology Co., Ltd. (“QY”) (Controlled through contractual agreements by WXBJ)  January 22, 2019  The PRC  100%   Holding Company
Beijing Sixiang Shiguang Technology Co., Ltd. (“SG”) (a wholly owned subsidiary of QY)  October 28, 2011  The PRC  100%   Live streaming platform
Hai Xiu (Beijing) Technology Co., Ltd. (“HX”) (a wholly owned subsidiary of QY)  April 18, 2016  The PRC  100%   Live streaming platform
Beijing Le Hai Technology Co., Ltd. (“LH”) (a wholly owned subsidiary of QY)  June 16, 2015  The PRC  100%   Live streaming platform
Sixiang Mifeng (Tianjin) Technology Co., Ltd (“DF”, formerly known as Tianjin Guangju Dingfei Technology Co., Ltd) (a wholly owned subsidiary of QY)  August 8, 2016  The PRC  100%   Live streaming platform
Changxiang Infinite Technology (Beijing) Co., Ltd. (“CX”) (a wholly owned subsidiary of DF)  September 22, 2016  The PRC  100%   Live streaming platform
Zhihui QiYuan (Hainan) Investment Co., Ltd (“QYHN”) (a wholly owned subsidiary of QY)  March 2, 2021  The PRC  100%   Live streaming platform
Huayu Hefeng (Qingdao) Technology Co., Ltd (“HYHF”) (a wholly owned subsidiary of SG)  September 29, 2021  The PRC  100%   Live streaming platform
Beijing Weiliantong Technology Co., Ltd.(“WLT”) (a wholly owned subsidiary of QY)  July 28, 2015  The PRC  100%   Live streaming platform
  Date of
incorporation
  Place of
incorporation
  Percentage of
direct/indirect
ownership
   Principal
activities
Chuangda Zhihui (Beijing) Technology Co., Ltd.(“CDZH”) (a wholly owned subsidiary of SG)  November 30, 2015  The PRC   100%   Live streaming platform
Beijing Huayi Dongchen Technology Co., Ltd. (“HYDC”) (a wholly owned subsidiary of CDZH)  February 6, 2015  The PRC   100%   Live streaming platform
Hongcheng Huiying (Zhejiang)Technology Industry Development Co., Ltd(“HCHY”) (a 51% owned subsidiary of QYHN)  February 15, 2022  The PRC   51%   Live streaming platform
Hangzhou Sixiang Fengjing Culture Technology Co., Ltd.(“SXFJ”) (a 51% owned subsidiary of QYHN)  May 30, 2024  The PRC   51%   Holding Company
Sixiang Qiyuan (Hangzhou) Culture Technology Co., Ltd (“QYHZ”) (Controlled through contractual agreements by WXZJ)  March 30, 2022  The PRC   100%   Holding Company
Xiuli (Zhejiang) Culture Technology Co., Ltd (“XLZJ”) (a wholly owned subsidiary of QYHZ)  April 7, 2022  The PRC   100%   Live streaming platform
Leku (Zhejiang) Culture Technology Co., Ltd (“LKZJ”) (a wholly owned subsidiary of QYHZ)  April 7, 2022  The PRC   100%   Live streaming platform
Haifan (Zhejiang) Culture Technology Co., Ltd (“HFZJ”) (a wholly owned subsidiary of QYHZ)  April 7, 2022  The PRC   100%   Live streaming platform
Xiangfeng (Zhejiang) Culture Technology Co., Ltd (“XFZJ”) (a wholly owned subsidiary of QYHZ)  April 7, 2022  The PRC   100%   Live streaming platform
Hongren (Zhejiang) Culture Technology Co., Ltd (“HRZJ”) (a wholly owned subsidiary of QYHZ)  April 7, 2022  The PRC   100%   Live streaming platform

 

(1)On July 1, 2024, the Company terminated the trust agreement between Scienjoy SG and Mr Xiaowu He, Chief Executive Officer and Chairman of the Board. After that, Scienjoy SG directly owns 51% equity interest of Scienjoy Verse.

 

(2)On July 1, 2024, Scienjoy Verse sold its 90% equity interest of SJ Verse to Scenovo SG.
Schedule of Financial Information of the Consolidated VIE and its Subsidiaries

The following tables represent the financial information of the consolidated VIE and its subsidiaries as of December 31, 2023 and 2024 before eliminating the intercompany balances and transactions between the VIE and other entities within the Company:

 

   As of December 31, 
   2023   2024   2024 
   RMB   RMB   US$ 
ASSETS            
Current assets            
Cash and cash equivalents   115,322    196,421    26,910 
Accounts receivable, net   198,709    195,202    26,743 
Prepaid expenses and other current assets   65,751    7,359    1,008 
Amounts due from inter-companies(1)   173,545    181,317    24,840 
Total current assets   553,327    580,299    79,501 
                
Non-current assets               
Property and equipment, net   1,356    1,157    159 
Intangible assets, net   412,008    405,084    55,496 
Goodwill   172,781    172,781    23,671 
Deferred tax assets   6,135    6,716    920 
Long term deposits and other assets   671    686    94 
Long term investments   380,869    241,227    33,048 
Right of use assets-operating lease   12,157    4,845    664 
Total non-current assets   985,977    832,496    114,052 
TOTAL ASSETS   1,539,304    1,412,795    193,553 
                
LIABILITIES               
Current liabilities               
Accounts payable   53,545    34,300    4,701 
Deferred revenue   81,503    61,891    8,479 
Accrued salary and employee benefits   10,397    15,345    2,102 
Accrued expenses and other current liabilities   11,300    14,621    2,003 
Income tax payable   10,530    11,285    1,546 
Amounts due to inter-companies(1)   424,856    417,184    57,154 
Lease liability-operating lease -current   7,974    4,098    561 
Total current liabilities   600,105    558,724    76,546 
                
Non-current liabilities               
Deferred tax liabilities   59,818    58,400    8,001 
Lease liabilities-operating lease -non-current   4,798    700    96 
Total non-current liabilities   64,616    59,100    8,097 
TOTAL LIABILITIES   664,721    617,824    84,643 

 

(1)Amount due from/to inter-companies consist of intercompany receivables/payables to other entities within the Group.
Schedule of Consolidated Statements of Income

Summarized below is the information related to the financial performance of the VIEs reported in the Company’s consolidated statements of income for the years ended December 31, 2022, 2023 and 2024, respectively:

 

   For the years ended December 31, 
   2022   2023   2024   2024 
   RMB   RMB   RMB   US$ 
Net revenues   1,291,701    1,215,582    1,281,734    175,597 
Third party customers   1,291,602    1,215,582    1,276,090    174,824 
Inter-companies   99    
-
    5,644    773 
Net income (loss)   143,651    (14,991)   71,271    9,764 
Schedule of Consolidated Statements of Cash Flow Activities
    For the years ended December 31,  
    2022     2023     2024     2024  
    RMB     RMB     RMB     US$  
Net cash provided by operating activities     155,897       42,562       100,323       13,744  
Net cash used in investing activities     (122,236 )     (42,554 )     (19,440 )     (2,663 )
Net cash (used in) provided by financing activities     (198 )     836       216       30