GlobeNewswire Inc | Oct 20, 2021 08:00AM EDT

October 20, 2021

GUANGZHOU, China, Oct. 20, 2021 (GLOBE NEWSWIRE) -- LIZHI INC. (LIZHI or the Company or We) (NASDAQ: LIZI), a leading online UGC audio community and interactive audio entertainment platform in China, has been named among the Top 20 Internet Companies in Guangzhou in 2021 and Most Innovative Internet Companies in 2021 by the Guangzhou Internet Society. The two accolades were presented earlier today as part of the 2021 Guangzhou Internet Enterprise Billboard at the 2021 Guangzhou Internet + New Economy Conference.

Just prior to this, LIZHIs Audio Engineering Technology Research Center had been recognized by the Guangdong Science and Technology Department on its 2021 list of Engineering Technology Research Centers of Guangdong Province. In the eight years since the Companys founding, LIZHI has continuously enhanced its audio-centric technical capabilities and actively optimized the Companys innovativeness and collaborative ingenuity. LIZHI also provides audio-based multi-device technical support for its products through its in-house audio technology solution, DOREME, which effectively improves the user experience of Livestream Podcasts for in-car scenarios.

Mr. Jinnan (Marco) Lai, Founder and Chief Executive Officer of LIZHI, said, "We are very pleased to be recognized as one of the Top 20 Internet Companies in Guangzhou and Most Innovative Internet Companies in Guangzhou this year. It is the third time that LIZHI has been named as one of the Top 20 Internet Companies in Guangzhou, after consecutive wins in 2019 and 2020. It is a greatly valuable recognition of LIZHIs continuous business growth and innovation in the audio field.

Looking forward, we will continue to expand our presence in the online audio industry, advance audio technology development, and further empower product innovation. We will also explore more usage scenarios and business models, and bring a high-quality audio experience to a wider range of users through various devices."

Established in 2007, the Guangzhou Internet Society is a non-profit organization formed by Guangzhou-based enterprises, institutions, and people from all walks of life engaged in the internet business and internet-related industries. For the awards presented by the 2021 Guangzhou Internet Enterprise Billboard, the society invited experts in the digital economy and internet fields to score companies based on 10 criteria such as technical capabilities and direction, real-life applications, depth and scope of R&D, and corporate social responsibility and determine which companies will make the final lists on the 2021 Guangzhou Internet Enterprise Billboard.

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 product 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.

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 Companys 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 Companys 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 DepartmentTel: +86 (20) 3866-4265E-mail: ir@lizhi.fm

The Piacente Group, Inc.Jenny CaiTel: +86 (10) 6508-0677E-mail: Lizhi@tpg-ir.com

In the United States:The Piacente Group, Inc.Brandi PiacenteTel: +1-212-481-2050E-mail: Lizhi@tpg-ir.com