China's Scienjoy Launches SVTL: A Metaverse Hub in Dubai's DIFC

BEIJING -- Scienjoy Holding Corporation ("Scienjoy," or the "Company") (NASDAQ: SJ), a leading provider of live streaming and entertainment platforms in the Chinese market, has unveiled key advancements in its metaverse undertakings on Thursday (9/28):

1. Establishment of Scienjoy Verse Tech Ltd in DIFC

In tandem with the visionary metaverse strategy of the government of Dubai, Scienjoy proudly establishes "Scienjoy Verse Tech Ltd" ("SVTL") at the Dubai International Financial Centre (DIFC). As the major shareholder, Scienjoy intends for SVTL to become the epicenter of the global metaverse business, uniting the essence of SJ Verse with the opulence of Dubai's premium culture and world-class lifestyle. Emphasizing its initial endeavors on the Middle East and North Africa region, SVTL is strategically positioned to provide a non-stop elegant metaverse lifestyle platform for people globally, subsequently taking the metaverse allure to the worldwide stage.

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2. Induction of Dr. Khalifa Al Shimmari

With the vision of integrating global ambitions with regional expertise, Scienjoy is thrilled to welcome Dr. Khalifa Al Shimmari as the Chief Strategy Officer (CSO) of SVTL. We believe that Dr. Khalifa's impressive track record in business strategy, leadership roles, and innovative projects in the UAE will be pivotal for Scienjoy's Dubai-centric metaverse aspirations. His significant local understanding and influence will be instrumental in navigating Scienjoy to a preeminent position in the Dubai metaverse ecosystem and facilitating local support.

3. MOU with NUJOOM ALMASHREQ MEDIA L.L.C ("NUJOOM")

In pursuit of pioneering content, Scienjoy is pleased to announce the signing of a Memorandum of Understanding (the "MOU") to acquire 90% shares in NUJOOM, a Dubai-based multi-channel network (MCN) committed to discovering, nurturing, and propelling emerging content creators into the spotlight. NUJOOM is slated for a seamless integration with BeeLive, and its prowess will be harnessed in SJ Verse's content evolution, laying the groundwork for the creation of next-generation metaverse lifestyle content that we believe will resonate worldwide.

Mr. Victor He, Chairman and Chief Executive Officer of Scienjoy, reflected, "From our strategic investment in DVCC TECHNOLOGY L.L.C to the establishment of SVTL in the heart of Dubai, our journey signifies a deep commitment to intertwining global vision with regional nuances. By onboarding Mr. Khalifa, a treasured local talent, and signing the MOU with NUJOOM, a vibrant local entity, we're affirmatively placing our roots in the Dubai metaverse ecosystem. We're dedicated to crafting an immersive realm where innovation meets luxury, and I'm profoundly optimistic about the unique and transformative experiences we're poised to offer our users."

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