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Scienjoy Holding Corp
Victor He leads Scienjoy Holding Corp, a Nasdaq-listed Chinese live-streaming platform that has been operating since 2011.
Scienjoy Holding Corp
Scienjoy Holding Corp was founded in 2011 and is led by Chairman and CEO Victor He. The firm operates as a mobile live-streaming entertainment platform provider in China, distributing its content through popular apps including Showself, Lehai, and Haixiu. The company generates revenue primarily through virtual gift purchases made by users during live broadcasts, a model that has scaled alongside China's mobile-first entertainment economy. The company's asset mix is concentrated in digital media operations, with platform technology, content licensing, and user-acquisition spend forming its deployment priorities. Scienjoy's coverage spans the full lifecycle of live-streaming content — from broadcaster recruitment and training to real-time video delivery infrastructure. Its user base is entirely China-focused, with monetization rooted in tier-one and tier-two cities where mobile entertainment spending is highest. A notable corporate milestone occurred in 2021, when the firm completed its Nasdaq listing through a business combination with Wealthbridge Acquisition Limited, a special purpose acquisition company, giving it a public currency for potential M&A. Scienjoy maintains an operational headquarters in Beijing and operates as a publicly traded entity with a lean corporate structure. In May 2024, the company filed its annual report with the SEC, confirming continued operations and reporting on-going compliance with Nasdaq listing standards. The firm does not operate known adjacent vehicles such as philanthropic foundations or real-asset arms. The genuine structural differentiator for Scienjoy is its status as a US-listed Chinese live-streaming company — a narrow peer cohort that faces distinct regulatory dual-compliance pressures under both Chinese content laws and US securities regulation, creating a governance architecture that few competitors navigate.
General information
Firm type
Asset Manager
Year founded
2011
AUM
Undisclosed
Location
Region
Asia
Country
China
City
Beijing
Corporate office
Beijing, China
Principals
Victor He
Chairman and Chief Executive Officer
Sector focus
Frequently asked questions
Who runs investment and strategic decisions at Scienjoy?
Chairman and CEO Victor He is the central decision-maker for corporate strategy and capital allocation. He founded the company and has led it through its 2021 SPAC merger and subsequent operations as a public company. The board of directors provides governance oversight, but strategic direction remains closely held by He and his executive team.
How does Scienjoy generate revenue?
Scienjoy derives nearly all its revenue from in-app virtual gift purchases. Users on its Showself, Lehai, and Haixiu platforms buy virtual gifts for broadcasters, and Scienjoy retains a percentage of each transaction. This model is common across Chinese live-streaming platforms and is supported by the wallets of users in China's largest urban centers.
Is Scienjoy structured as an operating company or an investment vehicle?
Scienjoy is an operating company, not an asset manager or family office. It owns and operates mobile live-streaming applications and generates revenue from platform activity. It is publicly traded on the Nasdaq under ticker SJ, which gives it a capital-markets presence but does not make it a fund or investment manager.
What are Scienjoy's primary operating platforms?
The firm's core platforms are Showself, Lehai, and Haixiu. Each targets segments of the Chinese mobile live-streaming audience, with content ranging from talent shows to casual social broadcasting. Showself is its flagship product and the most recognized of the three.
What regulatory environment applies to Scienjoy?
Scienjoy operates under China's internet content regulations, which impose licensing and content-monitoring requirements on live-streaming platforms. As a US-listed company, it is also subject to SEC reporting standards, including Form 20-F annual filings and Sarbanes-Oxley internal-controls requirements.
How did Scienjoy access US public markets?
Scienjoy completed a reverse merger in 2021 with Wealthbridge Acquisition Limited, a publicly traded SPAC. This structure allowed it to list on the Nasdaq without a traditional IPO roadshow, giving it a US public equity profile during a wave of Chinese technology listings via SPAC mergers.
Does Scienjoy maintain operations outside mainland China?
All of Scienjoy's platform operations are conducted in mainland China, targeting Chinese-speaking users. The company's US presence is limited to its Nasdaq listing and associated compliance and investor-relations activities.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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