Scienjoy Demonstrates Corporate Social Responsibility With COVID-19 Public Health Event

Rhea-AI Summary

On October 23, 2020, Scienjoy (Nasdaq: SJ) showcased its commitment to Corporate Social Responsibility (CSR) through a COVID-19 public health livestream event in Beijing. This initiative is part of a broader campaign to disseminate public health information on its platforms, which cater to over 200 million users. The company previously donated RMB 1 million for protective supplies and established a fund for impacted students. Notably, Scienjoy reported a 282.2% year-over-year increase in net income for Q2 2020, attributing this success to its CSR efforts and new entertainment offerings during the pandemic.

Positive

• Net income increased by 282.2% year-over-year in Q2 2020.
• Successfully expanded its content and services through CSR initiatives during the pandemic.
• Established a fund to support students from Hubei province affected by COVID-19.

Negative

• None.

BEIJING, Oct. 23, 2020 /PRNewswire/ -- Scienjoy (Nasdaq: SJ), a leading provider of show livestreaming social platforms in China, last week demonstrated its Corporate Social Responsibility (CSR) by supporting the COVID-19 pandemic effort via streaming the "Fighting the epidemic together for a better life," COVID-19 public health event.

Streaming the event was the most recent CSR initiative as part of the Company's larger campaign to share public health information on its platforms. Held in Beijing, the COVID-19 public health event gathered experts from local universities and invited five speakers to share their stories of outstanding contributions to the COVID-19 cause. This event is one small part of Scienjoy's effort to contribute to the fight against the pandemic, which has also included direct donations, partnerships to share public health information, and exploring new forms of online entertainment and community for its more than 200 million users.

Its strong sense of Corporate Social Responsibility made Scienjoy an early supporter of COVID-19 affected areas. This support began almost nine months ago. On January 31, the company donated RMB 1 million to purchase personal protective gear and other urgently needed medical supplies for frontline medical staff in Wuhan. At the same time, Scienjoy helped establish and donated RMB100,000 to the Beijing University of Posts and Telecommunications fund to support students from Hubei province, who were impacted by the virus. The fund was established to support students from Hubei who were struggling with tuition payments. The fund raised over 700,000 RMB, with Scienjoy employees also individually donating RMB101,010.

Beyond donations, Scienjoy added banners, livestreams, and resources to share authoritative public health information with its more than 200 million users. Scienjoy leveraged its livestreaming platforms, including Showself, Lehai TV and Haixiu TV, plus other strategic cooperation livestreaming platforms, to support the public health efforts against COVID-19. With its campaign "Together, we will fight the pandemic," it promoted a special section of COVID-19 information to users through banners on homepages. In these sections, the platforms published official announcements, posted public health campaigns calling on people to work together to combat COVID-19, and shared protective measures users could take to reduce the spread of the pandemic. Platforms also set up message boards for areas heavily impacted by the pandemic.

In addition to spreading the public health message, Scienjoy also used its own and other collaborative platforms to provide entertainment and social options in an era of social distancing to support users in high-risk areas and frontline workers who had to vigilantly practice social distancing. Since the start of the pandemic, people have increasingly turned to Scienjoy to connect over livestream from home. To support this, Scienjoy actively initiated a new "Home Entertainment" category, teaming up with high-quality partners to add new categories of entertainment and livestreaming events. Scienjoy livestreamed fitness courses, discos, online theater experiences and other innovative events. The company continued supporting its active online communities, enabling hosts and fans to maintain a connection virtually as they all practiced social distancing.

"Our COVID-19 efforts have further enriched our platforms' content, helped support our users get through this difficult time, and supported our public partners to find new online models to combat the crisis. Our new features and adaptations to the COVID-19 era also helped us achieve solid financial results in the second quarter of 2020. We grew our net income by 282.2% year over year in Q2, all while keeping an eye on our mission in CSR," said Mr. Denny Tang, CFO of Scienjoy.

Since its founding, CSR has always been a focus for Scienjoy. It continues to provide high-value services to users with cutting-edge technologies while making every effort to promote public welfare. During this uniquely difficult time, Scienjoy learned how livestream can adapt and support users in even more areas of life. Backed by its advanced technologies including artificial intelligence, augmented reality, and virtual reality, the company continues to develop diverse content and expand the reach of livestreaming. Scienjoy is looking to the future to see how we can learn from the pandemic and transform crisis into opportunity.

About Scienjoy

Founded in 2011, Scienjoy is a leading provider of show livestreaming social platforms in China. With more than 200 million registered users, Scienjoy currently operates five primary online livestreaming brands: Showself, Lehai TV, Haixiu TV, BeeLive International, and domestic counterpart BeeLive Chinese, each on stand-alone mobile applications. These mobile livestreaming platforms connect professional "broadcasters" and end-users, creating vibrant, interactive and close-knit communities. Using Scienjoy's mobile applications, users can select broadcasters and interact with them in real-time video rooms. Users can view photos posted by broadcasters on their personal pages, leave comments, and chat directly with broadcasters. Users can also play simple games in video rooms using virtual currency while watching a broadcaster's livestream.

Media Relations Contact
Greta Bradford
ICR Inc.
Greta.bradford@icrinc.com
Mobile: +86 178-8882-8731

 

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SOURCE Scienjoy Inc.

FAQ

What was Scienjoy's recent CSR initiative related to COVID-19?

Scienjoy's recent initiative was a livestream event titled 'Fighting the epidemic together for a better life' to promote public health information.

When did Scienjoy start its COVID-19 support efforts?

Scienjoy began its support efforts on January 31, 2020, with a donation of RMB 1 million.

How much did Scienjoy donate to help with COVID-19 efforts?

Scienjoy donated RMB 1 million for protective gear and RMB 100,000 to a fund supporting students affected by COVID-19.

What impact did COVID-19 have on Scienjoy's financial performance?

Scienjoy reported a 282.2% increase in net income year-over-year in Q2 2020, largely due to its CSR efforts.

How is Scienjoy using its platforms to combat COVID-19?

Scienjoy leveraged its livestreaming platforms to share public health information and create 'Home Entertainment' events during social distancing.