Scienjoy signs MoU with Douneng Maihuo, one of the leading e-commerce providers on Douyin

BEIJING, May 10, 2021 / PRNewswire / – Scienjoy Holding Corporation (“Scienjoy”, the “Company”) (NASDAQ: SJ), one of the leading live entertainment mobile streaming platforms in China, is pleased to announce that it has signed a memorandum of understanding with Beijing Douneng Maihuo Culture Media Co., Ltd. (“Douneng Maihuo”), a leading multi-channel network (MCN) and health e-commerce provider in Douyin. The two sides signed the MoU to establish an official partnership and explore the details of cooperation. This announcement marks a significant milestone in Scienjoy’s expanded presence in live e-commerce.

Douneng Maihuo stands out as one of the few multichannel networks in China which comprehensively covers fitness, fashion, health and weight loss categories. It is dedicated to building a foundation for the healthcare industry and incubating and training Key Opinion Leaders (KOLs) and live broadcast broadcasters. In addition, it provides a one-stop solution for Key Opinion Consumer (KOC) training, live streaming services, supply chain management, and self-media content production. At present, Douneng Maihuo has nearly one hundred KOLs and has experienced rapid growth in 2021 with more than 40 times year-on-year growth in the first quarter of 2021. Douneng Maihuo has become one of the major suppliers e-commerce platform on Douyin, the Chinese version of TikTok owned by ByteDance. In 2019, it was named one of the best MCNs in Douyin’s health and fitness category and was chosen in campaigns to showcase and recommend products to Douyin users.

Douneng Maihuo’s operations include providing integrated marketing solutions to reputable health food brands, training KOL to become leading health and fitness influencers, and aim to operate from China largest private domain traffic for the healthcare industry by aggregating fans on its healthcare KOL matrix. Douneng Maihuo uses precision marketing to target health and fitness conscious Chinese consumers with health food and nutritional supplement brands such as BE-KIND, My Protein and Nestle.

from China E-commerce live streaming industry has huge development margin and high market growth rate. According to a Live Streaming Industry Report released by iResearch Consulting Group, the Gross Market Value (GMV) of Ecommerce Live Streaming in China was 451.29 billion RMB in 2019, representing 4.5% of from China global online shopping market. With the increasing integration between content platforms and e-commerce sales, the penetration rate of e-commerce live streaming is expected to increase to 20.3% by 2022. The GMV of live streaming of e-commerce should reach 2.85 billion RMB by 2022. Moreover, according to a report on from China health food market published by the Intelligence Research Group consulting agency, from China the health food market is expected to reach 400 billion RMB in 2021. With the growing awareness of Chinese consumers and the trend of more and more young consumers to pay attention to health, from China The health food market has enormous potential.

This strategic alliance will take advantage of the own resources and technological advantages of Scienjoy and Douneng Maihuo. With approximately 250 million registered users and 300,000 seasoned live broadcast broadcasters, Scienjoy’s competitive operating capabilities will help Douneng Maihuo grow and maintain high private domain traffic. With the advantages of Douneng Maihuo’s MCN operating experience, vertical market advantages and public domain traffic conversion capabilities, Scienjoy can further explore different user groups, meet the needs of different vertical markets, improve the closed loop of monetizing e-commerce content and developing business segments with long-term profitability.

“Content-driven e-commerce live streaming is an important strategic step for us to build our complete mobile live streaming ecosystem. Finding partners with existing products, a large user base and operating revenues will help us expand our market coverage. ” noted Victor it, Chairman and CEO of Scienjoy on cooperation. “We will also consider strategic partnerships in line with our strategy, explore and incubate new projects with high value potential, increase our market share and seek business segments with high potential, with the aim of increasing our competitiveness on market and achieve robust growth in our performance.

Douneng Maihuo CEO Liang Cai commented, “Our strategic alliance with Scienjoy will help both sides to play a greater role in the field of live collaboration. Thanks to Scienjoy’s experience in live online entertainment, we will fully integrate upstream and downstream industrial channels. We believe this partnership will help Douneng Maihuo achieve our goal of becoming number one in the health category for e-commerce live streaming. “

About Scienjoy Holding Corporation

Founded in 2011, Scienjoy is one of the leading mobile live streaming platforms in China, and its main mission is to create a matrix of live streaming services that provides enjoyable experiences for users. With around 250 million registered users, Scienjoy currently operates four brands of live streaming platforms, including Showself, Lehai, Haixiu and BeeLive (including Mifeng [Chinese version] and BeeLive International [international version]). Scienjoy adopts cross-platform operating strategies and is committed to providing high quality, value-added services to users with innovative thinking. Based on extensive knowledge and research of the live streaming industry and user behavior, Scienjoy is dedicated to creating fully immersive virtual reality worlds in which the virtual world and reality are integrated into the live broadcast scenario, deeply integrating the industry through diverse live broadcast scenarios. , and empower the industry by creating a complete live streaming ecosystem rich in content and dynamic. For more information, please visit

About Beijing Douneng Maihuo Culture Media Co., Ltd.

Beijing Douneng Maihuo Culture Media Co., Ltd. is a new media company specializing in e-commerce live streaming. Its business covers e-commerce live streaming matrix incubation, integrated brand marketing, best intellectual property (IP) exploitation and private domain traffic exploitation. He has substantial marketing skills in the e-commerce industry. Douneng Maihuo has deployed e-commerce live broadcast bases in Beijing, Hangzhou, Xiamen, Zhongshan, Linyi and other places, and carried out basic industrial chain operations around the large field of health. He initially completed the integration of the supply chains of health food, nutritional supplements and other related verticals, to create a one-stop marketing solution for Key Opinion Consumer (KOC) training, live broadcast, supply chain and self-media content production. .

Safe Harbor Declaration

Certain statements made in this press release are “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates”, “Forecast,” “expect”, “anticipate”, “forecast”, “forecast”, “intend”, “believe”, “seek”, “may”, “will”, “should”, “future”, “proposes” and variations of such words or expressions (or negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of performance, conditions or future results, and involve a number of known and unknown risks, uncertainties, assumptions and other significant factors, many of which are beyond the control of the Company, which could cause actual results or results to differ materially. nt of those referred to in forward-looking statements. Important factors, among others, are: the ability to manage growth; ability to identify and integrate other future acquisitions; ability to secure additional funding in the future to fund capital expenditures; fluctuations in general economic and business conditions; costs or other factors adversely affecting our profitability; disputes concerning patents, intellectual property and other matters; potential changes in the legislative and regulatory environment; a pandemic or an epidemic. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those described in more detail in the documents filed by the Company with the Securities and Exchange Commission (“SEC”) from time to time. The Company assumes no obligation to update or revise forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. This information is only valid as of the date of this press release.

Media relations
Greta Bradford
ICR inc.
[email protected]
+86 178-8882-8731

Investor Relations Contacts
Ray chen
Vice-President, Investor Relations
Scienjoy Holding Company
+ 86-010-64428188
[email protected]

Jack Wang
ICR inc.
+1 (212) 537-9254
[email protected]

SOURCE Scienjoy Holding Corporation

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