Exhibit 99.1

LIZHI INC. Reports Second Quarter 2021 Unaudited Financial Results

GUANGZHOU, August 30, 2021 /GLOBE NEWSWIRE/ - LIZHI INC. (“LIZHI” or the “Company” or “We”) (NASDAQ: LIZI), a leading online UGC¹ audio community and interactive audio entertainment platform in China, today announced its unaudited financial results for the second quarter ended June 30, 2021.

Second Quarter 2021 Financial and Operational Highlights

• Net revenues were RMB559.3 million (US$86.6 million) in the second quarter of 2021, representing a 59% increase from RMB350.9 million in the second quarter of 2020.

• Average total mobile MAUs² in the second quarter of 2021 reached 60.9 million, representing an increase of 9% from 55.9 million in the second quarter of 2020.

• Average total monthly paying users³ in the second quarter of 2021 reached 494.4 thousand, representing an increase of 7% from 463.4 thousand in the second quarter of 2020.

“We are very pleased to continue our strong growth momentum in the second quarter of 2021, highlighted by 59% year-on-year revenue increase and growing MAUs and paying user base. We remain committed to our globalization strategy and leveraging optimized product features as well as strengthened technological capabilities to improve user engagement on our platforms. We believe our robust performance reflects the widespread appeal of our comprehensive and engaging audio-centric ecosystem,” said Mr. Jinnan (Marco) Lai, Founder and Chief Executive Officer of LIZHI. “Our continuous efforts to enhance the vibrancy of our user community and propel the integration of pre-recorded content division and audio entertainment division within the LIZHI App have strengthened our commercialization capabilities.

“With regards to our overseas business, it is worth noting that our TIYA App, specializing in audio-based social networking, continues its strong growth in user base with MAUs in June surpassing 3.5 million, up by 92% over average MAUs in the first quarter of 2021. We are also working to execute our product strategy by optimizing TIYA App’s features as well as enhancing its social networking capabilities. We see our podcast business and in-car audio initiatives are also making meaningful progresses as we leverage our extensive industry know-how and state-of-the-art proprietary audio technology solution DOREME. In the second quarter, we formed partnerships with more leading auto companies and intelligent in-car platforms to make LIZHI Podcast accessible to more vehicles. We believe innovation and effective execution are keys to our success and competitiveness in the online audio space. Going forward, we will continue to enrich user experience across our audio ecosystem, explore diversified commercialization pathways and advance our core technologies, increasing values to our users and all stakeholders,” Mr. Lai concluded.

Ms. Chengfang Lu, Acting Chief Financial Officer of LIZHI, stated, “As we move forward with our expansion strategy, our operational and financial performance for the second quarter continued to demonstrate our strong growth trajectory and strengthened commercialization capabilities. We’re also pleased to see gross margin expansion of 400 basis points year-over-year alongside our strong topline growth during the quarter. Looking ahead, we will remain focused on our globalization strategy and improving our operational and technological capabilities to foster our global audio ecosystem and deliver long-term sustainable growth.”

¹  Refers to user-generated content.

²  Refers to the average monthly number of active users across our platforms and Apps in a given period, calculated by dividing (i) the sum of mobile active users for each month of such period, by (ii) the number of months in the same period.

³  Refers to the average monthly number of paying user in a given period, calculated by dividing (i) the total number of paying users in each month of such period by (ii) the number of months in the same period.

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Second Quarter 2021 Unaudited Financial Results

Net revenues were RMB559.3 million (US$86.6 million) in the second quarter of 2021, representing an increase of 59% from RMB350.9 million in the second quarter of 2020, mainly attributable to the Company’s continuously expanding user base and the increase in the average spending of paying users in our audio entertainment products. While the COVID-19 pandemic continues to unfold in various parts of the world, the extent to which the COVID-19 impacts on the Company’s operations beyond the second quarter of 2021 depends on the future development of the pandemic in China and across the globe, which is subject to change and substantial uncertainty, and therefore cannot be predicted.

Cost of revenues was RMB400.5 million (US$62.0 million) in the second quarter of 2021, representing an increase of 51% from RMB265.2 million in the second quarter of 2020, primarily driven by an increase in revenue sharing fees to our content creators, payment handling costs and bandwidth costs, which were generally in line with the Company’s growth in business.

Gross profit was RMB158.8 million (US$24.6 million) in the second quarter of 2021, representing an increase of 85% from RMB85.7 million in the second quarter of 2020.

Non-GAAP gross profit⁴ was RMB161.9 million (US$25.1 million) in the second quarter of 2021, representing an increase of 79% from RMB90.5 million in the second quarter of 2020.

Gross margin for the second quarter of 2021 increased to 28% from 24% in the second quarter of 2020. Non-GAAP gross margin for the second quarter of 2021 grew to 29% from 26% in the second quarter of 2020.

Operating expenses were RMB190.3 million (US$29.5 million) in the second quarter of 2021, representing an increase of 72% from RMB110.8 million in the second quarter of 2020.

Research and development expenses were RMB60.9 million (US$9.4 million) in the second quarter of 2021, representing an increase of 11% from RMB54.8 million in the second quarter of 2020. The increase was primarily due to the increasing salary and welfare benefits expenses related to an increase in the number of our research and development staff.

Selling and marketing expenses were RMB106.3 million (US$16.5 million) in the second quarter of 2021, representing an increase of 241% from RMB31.2 million in the second quarter of 2020, primarily attributable to increased branding and marketing expenses from our branding and marketing activities for products and brand name in the second quarter of 2021.

General and administrative expenses were RMB23.1 million (US$3.6 million) in the second quarter of 2021, representing a decrease of 7% from RMB24.8 million in the second quarter of 2020. The decrease was mainly due to decreasing other professional service fee, partially offset by higher salary and welfare benefits expenses.

Operating loss was RMB31.6 million (US$4.9 million) in the second quarter of 2021, up by 26% from an operating loss of RMB25.0 million in the second quarter of 2020.

Non-GAAP operating loss⁵ was RMB21.7 million (US$3.4 million) in the second quarter of 2021, compared to RMB11.2 million in the second quarter of 2020.

Net loss was RMB29.0 million (US$4.5 million) in the second quarter of 2021, up by 32% from RMB22.0 million in the second quarter of 2020.

⁴  Non-GAAP gross profit is a non-GAAP financial measure, which is defined as gross profit excluding share-based compensation expenses. This adjustment amounted to RMB3.1 million (US$0.5 million) in the second quarter of 2021. Please refer to the section below titled “Unaudited Reconciliations of GAAP and Non-GAAP Results” for details.

⁵  Non-GAAP operating loss is a non-GAAP financial measure, which is defined as operating loss excluding share-based compensation expenses. This adjustment amounted to RMB9.8 million (US$1.5 million) in the second quarter of 2021. Please refer to the section below titled “Unaudited Reconciliations of GAAP and Non-GAAP Results” for details.

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Non-GAAP net loss⁶ was RMB19.2 million (US$3.0 million) in the second quarter of 2021, compared to RMB8.2 million in the second quarter of 2020.

Net loss attributable to LIZHI INC.’s ordinary shareholders was RMB29.0 million (US$4.5 million) in the second quarter of 2021, compared to RMB22.0 million in the second quarter of 2020.

Non-GAAP net loss attributable to LIZHI INC.’s ordinary shareholders⁷ was RMB19.2 million (US$3.0 million) in the second quarter of 2021, compared to RMB8.2 million in the second quarter of 2020.

Basic and diluted net loss per ADS⁸ were RMB0.58 (US$0.09) in the second quarter of 2021, compared to RMB0.48 in the second quarter of 2020.

Non-GAAP basic and diluted net loss per ADS⁹ were RMB0.38 (US$0.06) in the second quarter of 2021, compared to RMB0.18 per ADS in the second quarter of 2020.

Balance Sheets

As of June 30, 2021, the Company had cash and cash equivalents, restricted cash and short-term investments of RMB494.7 million (US$76.6 million).

Completion of Registered Direct Offering of American Depositary Shares

On April 13, 2021, the Company completed a registered direct offering of 3,685,504 American Depositary Shares (the “ADSs”) and warrants to purchase up to 2,764,128 ADSs, at an offering price of US$8.14 per ADS and corresponding warrant. The gross proceeds of this registered direct offering were US$30,000,002 before deducting placement agent fees and other offering expenses.

Conference Call

The Company’s management will host an earnings conference call at 9:00 PM U.S. Eastern Time on August 30, 2021 (9:00 AM Beijing/Hong Kong Time on August 31, 2021).

To facilitate all participants dialing into the earnings conference call, online registration is required prior to the start of the call.

Please complete the Direct Event online registration at http://apac.directeventreg.com/registration/event/1284703 at least 15 minutes prior to the scheduled call start time. Upon registration, participants will receive by email the conference call access information, including dial-in numbers, Direct Event Passcode, unique Registrant ID, and further detailed instructions.

After the registration is completed, please dial-in at least 10 minutes before the scheduled start time of the earnings call and enter the Direct Event Passcode and Registrant ID as instructed to connect to the call.

Additionally, a live and archived webcast of the conference call will be available on the Company’s investor relations website at http://ir.lizhi.fm.

⁶  Non-GAAP net loss is a non-GAAP financial measure, which is defined as net loss excluding share-based compensation expenses. These adjustments amounted to RMB9.8 million (US$1.5 million) in the second quarter of 2021. Please refer to the section below titled “Unaudited Reconciliations of GAAP and Non-GAAP Results” for details.

⁷  Non-GAAP net loss attributable to LIZHI INC.’s ordinary shareholders is a non-GAAP financial measure, which is defined as net loss attributable to LIZHI INC.’s ordinary shareholders excluding accretions to preferred shares redemption value and share-based compensation expenses. These adjustments amounted to RMB9.8 million (US$1.5 million) and RMB13.8 million in the second quarter of 2021 and 2020, respectively. Please refer to the section below titled “Unaudited Reconciliations of GAAP and Non-GAAP Results” for details.

⁸  ADS refers to American Depositary Share. Each ADS represents twenty Class A ordinary shares of the Company. Basic and diluted net loss per ADS is net loss attributable to LIZHI INC.’s ordinary shareholders divided by weighted average number of ADS.

⁹  Non-GAAP basic and diluted net loss per ADS is a non-GAAP financial measure, which is defined as non-GAAP net loss attributable to LIZHI INC.’s ordinary shareholders divided by weighted average number of ADS used in the calculation of basic and diluted net loss per ADS.

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A replay of the conference call will be accessible approximately two hours after the conclusion of the call until September 6, 2021, by dialing the following telephone numbers:

United States:	+1-855-452-5696
International:	+61-2-8199-0299
Hong Kong, China:	800-963-117
Mainland China:	400-632-2162
Replay Access Code:	1284703

About LIZHI INC.

LIZHI INC. has built an audio ecosystem with a global presence consisting of audio-based social networks, podcast content portfolios and audio communities. The Company aims to bring people closer together through voices by its product portfolios. LIZHI’s audio-based social networking products offering, including TIYA App, caters to users’ evolving interest in social interactions in real time online and enables users to connect with friends having similar interests, entertain, chat online, and share their daily lives through voices. LIZHI also offers a vertical podcast platform, LIZHI Podcast, that provides users with curated content drawn from its extensive content library built over the years, as well as new podcasts provided by selected content creators. Since the launch of LIZHI App in 2013, the Company’s flagship platform, LIZHI has cultivated a vibrant and growing online UGC audio community and interactive audio entertainment platform where users are encouraged to create, share, discover and enjoy audio, and experience immersive and diversified entertainment features through audio. LIZHI envisions a global audio ecosystem – a place where everyone can be connected through voices and across cultures. LIZHI INC. has been listed on Nasdaq since January 2020.

For more information, please visit: http://ir.lizhi.fm.

Use of Non-GAAP Financial Measures

The unaudited condensed consolidated financial information is prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”).

LIZHI uses non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating loss/income, non-GAAP net loss/income, non-GAAP net loss/income attributable to LIZHI INC.’s ordinary shareholders and non-GAAP basic and diluted net loss/income per ADS, which are non-GAAP financial measures. Non-GAAP gross profit is gross profit excluding share-based compensation expenses. Non-GAAP gross margin is non-GAAP gross profit as a percentage of net revenues. Non-GAAP operating loss/income is operating loss/income excluding share-based compensation expenses. Non-GAAP net loss/income is net loss excluding share-based compensation expenses. Non-GAAP net loss/income attributable to LIZHI INC.’s ordinary shareholders is net loss attributable to LIZHI INC.’s ordinary shareholders excluding accretions to preferred shares redemption value and share-based compensation expenses. Non-GAAP basic and diluted net loss/income per ADS is non-GAAP net loss/income attributable to LIZHI INC.’s ordinary shareholders divided by weighted average number of ADS used in the calculation of basic and diluted net loss per ADS. The Company believes that separate analysis and exclusion of the non-cash impact of above reconciling items adds clarity to the constituent parts of its performance. The Company reviews these non-GAAP financial measures together with GAAP financial measures to obtain a better understanding of its operating performance. It uses the non-GAAP financial measure for planning, forecasting and measuring results against the forecast. The Company believes that non-GAAP financial measure is useful supplemental information for investors and analysts to assess its operating performance without the non-cash effect of accretions to preferred shares redemption value and share-based compensation expenses.

However, the use of non-GAAP financial measures has material limitations as an analytical tool. One of the limitations of using non-GAAP financial measures is that they do not include all items that impact the Company’s net loss for the period. In addition, because non-GAAP financial measures are not measured in the same manner by all companies, they may not be comparable to other similar titled measures used by other companies. In light of the foregoing limitations, you should not consider non-GAAP financial measure in isolation from, superior to, or as an alternative to the financial measure prepared in accordance with U.S. GAAP.

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The presentation of these non-GAAP financial measures is not intended to be considered in isolation from, or as a substitute for, the financial information prepared and presented in accordance with U.S. GAAP. For more information on these non-GAAP financial measures, please see the table captioned “Unaudited Reconciliations of GAAP and Non-GAAP Results” near the end of this release.

Statement Regarding Preliminary Unaudited Financial Information

The unaudited financial information set out in this earnings release is preliminary and subject to potential adjustments. Adjustments to the condensed consolidated financial statements may be identified when audit work has been performed for the Company’s year-end audit, which could result in significant differences from the preliminary unaudited financial information contained in this earnings release.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars and from U.S. dollars to RMB are made at a rate of RMB6.4566 to US$1.00, the exchange rate on June 30, 2021 set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or U.S. dollars amounts referred could be converted into U.S. dollars or RMB, as the case may be, at any particular rate or at all.

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as “may”, “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the Securities Exchange Commission. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.

For investor and media inquiries, please contact:

In China:

LIZHI INC.

IR Department

Tel: +86 (20) 3866-4265

E-mail: ir@lizhi.fm

The Piacente Group, Inc.

Jenny Cai

Tel: +86 (10) 6508-0677

E-mail: Lizhi@tpg-ir.com

In the United States:

The Piacente Group, Inc.

Brandi Piacente

Tel: +1-212-481-2050

E-mail: Lizhi@tpg-ir.com

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LIZHI INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(All amounts in thousands, except for share, ADS, per share data and per ADS data)

	December 31, 2020		June 30, 2021		June 30, 2021
	RMB		RMB		US$
ASSETS
Current assets
Cash and cash equivalents		315,459		490,082		75,904
Short-term investments		73,022		1,613		250
Restricted cash		3,695		3,022		468
Accounts receivable, net		8,361		7,322		1,134
Prepayments and other current assets		19,371		38,276		5,928
Total current assets		419,908		540,315		83,684
Non-current assets
Property, equipment and leasehold improvement, net		34,518		33,416		5,175
Intangible assets, net		2,929		2,741		425
Right-of-use assets, net		4,282		21,106		3,269
Other non-current assets		2,181		1,415		219
Total non-current assets		43,910		58,678		9,088
TOTAL ASSETS		463,818		598,993		92,772
LIABILITIES
Current liabilities
Accounts payable		78,267		71,837		11,126
Deferred revenue		17,001		14,512		2,248
Salary and welfare payable		93,288		95,858		14,847
Taxes payable		5,809		4,888		757
Short-term loans		39,508		35,448		5,490
Lease liabilities due within one year		3,709		9,290		1,439
Accrued expenses and other current liabilities		51,047		82,931		12,845
Total current liabilities		288,629		314,764		48,752
Non-current liabilities
Lease liabilities		587		12,545		1,943
Other non-current liabilities		5,411		4,934		764
Total non-current liabilities		5,998		17,479		2,707
TOTAL LIABILITIES		294,627		332,243		51,459

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LIZHI INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)

(All amounts in thousands, except for share, ADS, per share data and per ADS data)

	December 31, 2020			June 30, 2021			June 30, 2021
	RMB			RMB			US$
SHAREHOLDERS’ EQUITY
Ordinary shares (US$0.0001 par value, 1,500,000,000 and 1,500,000,000 shares authorized as of December 31, 2020 and June 30, 2021, respectively, 941,464,520 shares issued and 924,318,450 shares outstanding as of December 31, 2020 and 1,030,177,260 shares issued and 1,005,576,070 shares outstanding as of June 30, 2021, respectively).		640			698			108
Treasury stock		(12	)		(17	)		(3	)
Additional paid in capital		2,409,753			2,610,204			404,269
Accumulated deficit		(2,239,281	)		(2,338,346	)		(362,164	)
Accumulated other comprehensive income		(1,909	)		(5,789	)		(897	)
TOTAL SHAREHOLDERS’ EQUITY		169,191			266,750			41,313
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		463,818			598,993			92,772

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LIZHI INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(All amounts in thousands, except for share, ADS, per share data and per ADS data)

	Three Months Ended												Six Months Ended
	June 30, 2020			March 31, 2021			June 30, 2021			June 30, 2021			June 30, 2020			June 30, 2021			June 30, 2021
	RMB			RMB			RMB			US$			RMB			RMB			US$
Net revenues
Audio entertainment revenues		344,144			489,306			555,073			85,970			710,579			1,044,379			161,754
Podcast, advertising and other revenues		6,781			5,747			4,212			652			10,616			9,959			1,542
Total net revenues		350,925			495,053			559,285			86,622			721,195			1,054,338			163,296
Cost of revenues (1)		(265,191	)		(369,993	)		(400,531	)		(62,034	)		(562,575	)		(770,524	)		(119,339	)
Gross profit		85,734			125,060			158,754			24,588			158,620			283,814			43,957
Operating expenses (1)
Selling and marketing expenses		(31,176	)		(120,790	)		(106,325	)		(16,468	)		(66,921	)		(227,115	)		(35,176	)
General and administrative expenses		(24,775	)		(19,617	)		(23,072	)		(3,573	)		(51,167	)		(42,689	)		(6,612	)
Research and development expenses		(54,815	)		(56,868	)		(60,938	)		(9,438	)		(113,262	)		(117,806	)		(18,246	)
Total operating expenses		(110,766	)		(197,275	)		(190,335	)		(29,479	)		(231,350	)		(387,610	)		(60,034	)
Operating loss		(25,032	)		(72,215	)		(31,581	)		(4,891	)		(72,730	)		(103,796	)		(16,077	)
Interest expenses, net		(682	)		(248	)		(308	)		(48	)		(769	)		(556	)		(86	)
Foreign exchange gains/(losses)		(8	)		(149	)		1			—			(646	)		(148	)		(23	)
Investment income		390			407			53			8			395			460			71
Government grants		3,782			2,917			2,663			412			5,639			5,580			864
Others, net		(478	)		(749	)		144			22			(2,152	)		(605	)		(94	)
Loss before income taxes		(22,028	)		(70,037	)		(29,028	)		(4,497	)		(70,263	)		(99,065	)		(15,345	)
Income tax expenses		—			—			—			—			—			—			—
Net loss		(22,028	)		(70,037	)		(29,028	)		(4,497	)		(70,263	)		(99,065	)		(15,345	)
Accretions to preferred shares redemption value		—			—			—			—			(154,066	)		—			—
Net loss attributable to LIZHI INC.’s ordinary shareholders		(22,028	)		(70,037	)		(29,028	)		(4,497	)		(224,329	)		(99,065	)		(15,345	)

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LIZHI INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (CONTINUED)

(All amounts in thousands, except for share, ADS, per share data and per ADS data)

	Three Months Ended												Six Months Ended
	June 30, 2020			March 31, 2021			June 30, 2021			June 30, 2021			June 30, 2020			June 30, 2021			June 30, 2021
	RMB			RMB			RMB			US$			RMB			RMB			US$
Net loss		(22,028	)		(70,037	)		(29,028	)		(4,497	)		(70,263	)		(99,065	)		(15,345	)
Other comprehensive income/(loss):
Foreign currency translation adjustments		(119	)		1,136			(5,016	)		(777	)		6,452			(3,880	)		(601	)
Total comprehensive loss		(22,147	)		(68,901	)		(34,044	)		(5,274	)		(63,811	)		(102,945	)		(15,946	)
Accretions to preferred shares redemption value		—			—			—			—			(154,066	)		—			—
Comprehensive loss attributable to LIZHI INC.’s ordinary shareholders		(22,147	)		(68,901	)		(34,044	)		(5,274	)		(217,877	)		(102,945	)		(15,946	)
Net loss attributable to LIZHI INC.’s ordinary shareholders per share
—Basic		(0.02	)		(0.08	)		(0.03	)		(0.00	)		(0.27	)		(0.10	)		(0.02	)
—Diluted		(0.02	)		(0.08	)		(0.03	)		(0.00	)		(0.27	)		(0.10	)		(0.02	)
Weighted average number of ordinary shares
—Basic		921,450,258			930,843,416			997,522,794			997,522,794			840,088,328			964,367,302			964,367,302
—Diluted		921,450,258			930,843,416			997,522,794			997,522,794			840,088,328			964,367,302			964,367,302
Net loss attributable to LIZHI INC.’s ordinary shareholders per ADS
—Basic		(0.48	)		(1.50	)		(0.58	)		(0.09	)		(5.34	)		(2.05	)		(0.32	)
—Diluted		(0.48	)		(1.50	)		(0.58	)		(0.09	)		(5.34	)		(2.05	)		(0.32	)
Weighted average number of ADS
—Basic		46,072,513			46,542,171			49,876,140			49,876,140			42,004,416			48,218,365			48,218,365
—Diluted		46,072,513			46,542,171			49,876,140			49,876,140			42,004,416			48,218,365			48,218,365

(1) Share-based compensation was allocated in cost of revenues and operating expenses as follows:

	Three Months Ended								Six Months Ended
	June 30, 2020		March 31, 2021		June 30, 2021		June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2021
	RMB		RMB		RMB		US$		RMB		RMB		US$
Cost of revenues		4,797		2,670		3,112		482		9,953		5,782		896
Selling and marketing expenses		827		283		1,025		159		1,696		1,308		203
General and administrative expenses		2,406		3,228		3,421		530		9,421		6,649		1,030
Research and development expenses		5,774		2,064		2,278		353		11,772		4,342		672

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LIZHI INC.

UNAUDITED RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS

(All amounts in thousands, except for share, ADS, per share data and per ADS data)

	Three Months Ended												Six Months Ended
	June 30, 2020			March 31, 2021			June 30, 2021			June 30, 2021			June 30, 2020			June 30, 2021			June 30, 2021
	RMB			RMB			RMB			US$			RMB			RMB			US$
Gross profit		85,734			125,060			158,754			24,588			158,620			283,814			43,957
Share-based compensation expenses		4,797			2,670			3,112			482			9,953			5,782			896
Non-GAAP gross profit		90,531			127,730			161,866			25,070			168,573			289,596			44,853
Operating loss		(25,032	)		(72,215	)		(31,581	)		(4,891	)		(72,730	)		(103,796	)		(16,077	)
Share-based compensation expenses		13,804			8,245			9,836			1,524			32,842			18,081			2,801
Non-GAAP operating loss		(11,228	)		(63,970	)		(21,745	)		(3,367	)		(39,888	)		(85,715	)		(13,276	)
Net loss		(22,028	)		(70,037	)		(29,028	)		(4,497	)		(70,263	)		(99,065	)		(15,345	)
Share-based compensation expenses		13,804			8,245			9,836			1,524			32,842			18,081			2,801
Non-GAAP net loss		(8,224	)		(61,792	)		(19,192	)		(2,973	)		(37,421	)		(80,984	)		(12,544	)
Net loss attributable to LIZHI INC.’s ordinary shareholders		(22,028	)		(70,037	)		(29,028	)		(4,497	)		(224,329	)		(99,065	)		(15,345	)
Share-based compensation expenses		13,804			8,245			9,836			1,524			32,842			18,081			2,801
Accretions to preferred shares redemption value		—			—			—			—			154,066			—			—
Non-GAAP net loss attributable to LIZHI INC.’s ordinary shareholders		(8,224	)		(61,792	)		(19,192	)		(2,973	)		(37,421	)		(80,984	)		(12,544	)
Non-GAAP net loss attributable to LIZHI INC.’s ordinary shareholders per share
—Basic		(0.01	)		(0.07	)		(0.02	)		(0.00	)		(0.04	)		(0.08	)		(0.01	)
—Diluted		(0.01	)		(0.07	)		(0.02	)		(0.00	)		(0.04	)		(0.08	)		(0.01	)
Weighted average number of ordinary shares
—Basic		921,450,258			930,843,416			997,522,794			997,522,794			840,088,328			964,367,302			964,367,302
—Diluted		921,450,258			930,843,416			997,522,794			997,522,794			840,088,328			964,367,302			964,367,302
Non-GAAP net loss attributable to LIZHI INC.’s ordinary shareholders per ADS
—Basic		(0.18	)		(1.33	)		(0.38	)		(0.06	)		(0.89	)		(1.68	)		(0.26	)
—Diluted		(0.18	)		(1.33	)		(0.38	)		(0.06	)		(0.89	)		(1.68	)		(0.26	)
Weighted average number of ADS
—Basic		46,072,513			46,542,171			49,876,140			49,876,140			42,004,416			48,218,365			48,218,365
—Diluted		46,072,513			46,542,171			49,876,140			49,876,140			42,004,416			48,218,365			48,218,365

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