Scienjoy Celebrates Four Years of BeeLive Chinese and the First Year of BeeLive International

BEIJING,Nov. 18,2020 -- Scienjoy Holding Corporation ("Scienjoy",the "Company",or "We") (NASDAQ: SJ),a leading live entertainment mobile streaming platform in China,recently celebrated the four-year anniversary of one of its show live streaming platforms,BeeLive Chinese (MiFeng). BeeLive also celebrated the one-year anniversary of its overseas version BeeLive International this fall. Scienjoy acquired both platforms in September 2020.

Beelive Chinese (MiFeng) was founded in China in November 2016. After establishing a strong presence in China's domestic live streaming market,BeeLive began its international expansion in the fall of 2019 with BeeLive International. The stand-alone application currently covers the Middle East with its Arabic language product,and Southeast Asia with its Thai language product.

The mobile phone live streaming industry began in China,where Scienjoy has developed its strong user traction and cutting-edge proprietary live streaming technology. Mobile live streaming outside of China has since taken off in 2019 and 2020. According to a Think With Google consumer report,international live content viewership was up 250% in March and April of 2020 compared with the same period of 2019. BeeLive International is responding to this growing need by bringing show-room live streaming to the global market.

BeeLive International has encountered unique opportunities and user preferences in the South East Asian and the Middle East markets. Thai consumers are relatively familiar with the concept of live stream entertainment. The Thai market has a pool of high-quality hosts and a sophisticated user-base with behavior trends similar to domestic Chinese users. In contrast,the Arabic language version serves a diverse user region covering over 20 countries. Live streaming is a new entertainment concept in the Middle East. United by a common language,BeeLive International's Arabic product is able to connect streamers and fans across the whole region.

After acquiring BeeLive,Scienjoy applied its advanced technologies including Augmented Reality,Artificial Intelligence and Big Data analytics to the two platforms. These technologies enabled BeeLive to not only improve user experience and product features but also to gain insights from these new markets. Big Data analytics will continue to be an important tool in learning and improving products as user preferences evolve in the future.

"The past four years have certainly solidified BeeLive's position as a pioneer in the ever-evolving live stream entertainment industry. Paired with Scienjoy's advanced technologies and Big Data analytics,we look forward to BeeLive and all platforms in the Scienjoy portfolio achieving more milestones and anniversaries together." Said Victor He,Scienjoy's Chairman and CEO.

Scienjoy continues to iterate and upgrade products as it gains insight from its international expansion and various platforms. Backed by its proprietary technologies,users around the world can look forward to enjoying the new possibilities of live entertainment with Scienjoy's BeeLive for years to come.

About Scienjoy HoldingCorporation Limited

Founded in 2011,Scienjoy is a leading show live streaming video entertainment social platform in China. With more than 200 million registered users,Scienjoy currently operates four primary online live streaming brands on five mobile apps: Showself,Lehai,Haixiu and Beelive International and BeeLive Chinese (MiFeng),each using Scienjoy's own mobile applications. Through this collection of online live streaming brands,Scienjoy has created a vibrant,interactive,and close community. Scienjoy operates a mobile live streaming business through which it provides live streaming entertainment from professional "broadcasters" to end-users,allowing for the operation of live social video communities. Using Scienjoy's mobile applications,users can select broadcasters and enter real time video rooms to interact with them. In addition to real-time interactions,users can also view photos posted by broadcasters on their personal pages,leave comments,and engage in private chats with broadcasters when they are not streaming. In addition,users can also play fun and simple games by using virtual currencies within the video rooms while watching the live streaming of a broadcaster. For more information,please seehttp://ir.Scienjoy.com/.

Safe Harbor Statement

Certain statements made in this 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," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance,conditions or results,and involve a number of known and unknown risks,uncertainties,assumptions and other important factors,many of which are outside the Company's control,that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors,among others,are: the ability to manage growth; ability to identify and integrate other future acquisitions; ability to obtain additional financing in the future to fund capital expenditures; fluctuations in general economic and business conditions; costs or other factors adversely affecting our profitability; litigation involving patents,intellectual property,and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic. The forward-looking statements contained in this release are also subject to other risks and uncertainties,including those more fully described in the Company's filings with the Securities and Exchange Commission ("SEC") from time to time. The Company undertakes no obligation to update or revise any forward-looking statements,whether as a result of new information,future events or otherwise,except as required by applicable law. Such information speaks only as of the date of this release.

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