Breaking News: Scienjoy Signs MOU with Douneng Maihuo, a Leading E-Commerce Provider on Douyin | #site_titleBreaking News: Scienjoy Signs MOU with Douneng Maihuo, a Leading E-Commerce Provider on Douyin

Breaking News: Scienjoy Signs MOU with Douneng Maihuo, a Leading E-Commerce Provider on Douyin

Scienjoy Holding Corporation (NASDAQ: SJ), a leading live entertainment mobile streaming platform in China, is pleased to announce it has signed a memorandum of understanding (MOU) with Beijing Douneng Maihuo Culture Media Co., Ltd. (“Douneng Maihuo”), a prominent multi-channel network (MCN) and health e-commerce provider on Douyin. Both sides have signed the MOU to establish an official partnership and explore cooperation details. This announcement marks a substantial step in Scienjoy’s expanded presence in livestreaming e-commerce.      

Douneng Maihuo stands out as one of the few MCNs in China that comprehensively covers the categories of fitness, fashion, health and weight loss. It is dedicated to establishing a health industry base and incubating and training Key Opinion Leaders (KOLs) and livestreaming broadcasters. In addition, it provides a one-stop solution for Key Opinion Consumer (KOC) training, live broadcast services, supply chain management and self-media content production. At present, Douneng Maihuo has nearly a hundred KOLs and has achieved rapid growth in 2021 with over 40x year-over-year growth in the first quarter of 2021. Douneng Maihuo has become a leading e-commerce provider on Douyin, the Chinese version of TikTok owned by ByteDance. In 2019 it was named as a top MCN in Douyin’s health and fitness category and was chosen in campaigns to introduce and recommend products to Douyin users.

Douneng Maihuo’s operations include providing famous health food brands with integrated marketing solutions, training KOLs to become leading influencers in health and fitness, and aiming to operate China’s largest private domain traffic for the health industry by aggregating fans on its health KOLs matrix. Douneng Maihuo uses precision marketing to target Chinese consumers who are concerned about health and fitness with health food and nutritional supplements brands such as BE-KIND, My Protein and Nestle.

China’s e-commerce livestreaming industry has huge room for development and a high market growth rate. According to a report on the livestreaming industry published by iResearch Consulting Group, the gross market value (GMV) of e-commerce livestreaming in China was RMB451.29 billion in 2019, accounting for 4.5% of China’s overall online shopping market. With the increasing integration between content platforms and e-commerce sales, the penetration rate of e-commerce livestreaming is forecasted to increase to 20.3% by 2022. The GMV of e-commerce livestreaming is estimated to reach RMB2.85 trillion by 2022. Furthermore, according to a report on China’s health food market released by the consulting agency Intelligence Research Group, China’s health food market is expected to reach RMB400 billion in 2021. With the increasing health awareness among Chinese consumers and the trend of more and more young consumers paying attention to health, China’s health foods market has huge potentials.

This strategic alliance will give full play to Scienjoy and Douneng Maihuo’s own resources and technological advantages. With approximately 250 million registered users and 300,000 seasoned livestreaming broadcaster, Scienjoy’s competitive operating capabilities will help Douneng Maihuo grow and maintain high private domain traffic stickiness. With the benefits of Douneng Maihuo’s MCN operation 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 content e-commerce monetization and develop business segments with long-term profitability.

“Content-driven e-commerce livestreaming is an important strategic step for us to build our full mobile livestreaming ecosystem. Finding partners with existing products, a large user base and operating income will help us expand our market coverage.” said Victor He, Chairman and CEO of Scienjoy on the cooperation. “We will further consider strategic partnerships that are in line with our strategy, explore and incubate new projects with high value potentials, expand market share and seek high-potential business segments, aiming to increase our market competitiveness and achieve robust performance growth.

Douneng Maihuo’s CEO Liang Cai commented, “Our strategic alliance with Scienjoy will help both parties play a greater value in the field of livestreaming collaboration. With Scienjoy’s experience in online livestreaming entertainment, we will fully integrate the upstream and downstream industry chains. We believe that this partnership will assist Douneng Maihuo in achieving our goal of becoming number one in the health category for e-commerce livestreaming.”

About Scienjoy Holding Corporation

Founded in 2011, Scienjoy is a leading mobile livestreaming platform in China, and its core mission is to build a livestreaming service matrix that delivers pleasant experiences to users. With approximately 250 million registered users, Scienjoy currently operates four brands of livestreaming platforms, consisting of Showself, Lehai, Haixiu, and BeeLive (including Mifeng [Chinese version] and BeeLive International [international version]). Scienjoy adopts multi-platform operation strategies and is committed to providing high-quality and value-added services for users with innovative thinking. Based on in-depth knowledge and research of the livestreaming industry and user behavior, Scienjoy is devoted to building fully-immersive virtual reality worlds in which the virtual world and reality are integrated within the livestreaming scenario, deeply integrating the industry through diversified live broadcasting scenarios, and empowering the industry by building a content-rich and vibrant Livestreaming Full Ecosystem. For more information, please visit http://ir.scienjoy.com/.

About Beijing Douneng Maihuo Culture Media Co., Ltd.

Beijing Douneng Maihuo Culture Media Co., Ltd. is a new media company focusing on e-commerce livestreaming. Its business covers e-commerce livestreaming broadcaster matrix incubation, brand’s integrated marketing, top intellectual properties (IPs) operation and private domain traffic operation. It has substantial marketing capabilities in the e-commerce industry. Douneng Maihuo has deployed e-commerce livestreaming bases in BeijingHangzhouXiamen, Zhongshan, Linyi and other places, and carried out industrial chain base operations around the big health field. It has 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 services, supply chain and self-media content production.

Sponsored Content Release. Click for Full Disclosure

Opt-into our eNewsletter NOW! For the Latest Trending Financial News Topics in Cannabis, Tech, Biotechs, Precious Metals, Energy, Renewable Energy and much more!

  • Sponsored Content Release

    FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

    Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the ‘Site’) is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. FinancialBuzz.com has not been compensated directly by any of the companies mentioned here in this editorial unless mentioned otherwise. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For scienjoy holding corporation video production, filming editing, news reporting, financial and corporate news dissemination, FinancialBuzz.com has signed a two month agreement and been compensated five thousand dollars by the company. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com has agreed to fifty thousand restricted shares, FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.financialbuzz.com.