GlobeNewswire Inc | Nov 29, 2021 04:30PM EST

November 29, 2021

GUANGZHOU, China, Nov. 29, 2021 (GLOBE NEWSWIRE) -- LIZHI INC. (LIZHI or the Company or We) (NASDAQ: LIZI), an audio-based social and entertainment platform, today announced its unaudited financial results for the third quarter ended September 30, 2021.

Third Quarter 2021 Financial and Operational Highlights

-- Net revenues were RMB504.8 million (US$78.4 million) in the third quarter of 2021, representing a 40% increase from RMB361.5 million in the third quarter of 2020. -- Average total mobile MAUs1 in the third quarter of 2021 reached 58.9 million, representing an increase of 5% from 56.2 million in the third quarter of 2020. -- Average total monthly paying users2 in the third quarter of 2021 reached 485.5 thousand, representing an increase of 8% from 448.3 thousand in the third quarter of 2020.

We continued to focus on building a competitive audio ecosystem in the third quarter of 2021, said Mr. Jinnan (Marco) Lai, founder and CEO of LIZHI. Our strategic initiatives during the quarter focused on refining our operational strategies and harnessing our capabilities on core content categories that feature higher commercialization prospects. In doing so, we strive to unleash more commercialization potential presented in audio entertainment business and build a solid foundation for our long-term sustainable growth. In the third quarter of 2021, our average audio entertainment mobile MAUs increased by 21% year-over-year to 9.17 million. Coupled with optimized operational strategy, we expect the audio entertainment business to further boost the efficiency of paying user conversion and drive our revenue growth moving forward.

On the global front, we continued to refine and enhance the social networking capabilities of our TIYA App. We are pleased with its progress over the past year since its launch in the U.S. and will continue to introduce new functions and features that enhance user engagement. Building on our technology roadmap and iterative product development framework, we are diligently working to reinforce our ecosystems virtuous cycle and offer a better user experience across our platforms and apps. We believe these endeavors will strengthen our core competencies as we navigate the evolving market landscape in China and further expand in the global audio space, Mr. Lai concluded.

Ms. Chengfang Lu, Acting Chief Financial Officer of LIZHI, stated, Were pleased to see another solid year-over-year revenue growth in the third quarter. Driven by our improved operational strategy, our gross margin grew to 30%, up 500 basis points year-over-year. We believe the audio entertainment ecosystem weve built is fundamental to our long-term growth. Looking ahead, we will continue optimizing our audio entertainment business, enhancing commercialization capabilities, and leveraging our technology innovation and expertise, as well as actively exploring the international market, in order to achieve sustainable growth.

____________1 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.2 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.

Third Quarter 2021 Unaudited Financial Results

Net revenues were RMB504.8 million (US$78.4 million) in the third quarter of 2021, representing an increase of 40% from RMB361.5million in the third quarter of 2020, primarily driven by the growth of paying users and enhanced commercialization capabilities of our audio entertainment products. While the COVID-19 resurgence in various parts of the world continues, the extent to which the COVID-19 impacts on the Companys operations beyond the third 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 RMB353.6 million (US$54.9 million) in the third quarter of 2021, representing an increase of 31% from RMB270.9 million in the third quarter of 2020, mainly attributable to an increase in revenue sharing fees to our content creators, salary and welfare benefits expenses and bandwidth costs, which were generally in line with the Companys growth in business.

Gross profit was RMB151.3 million (US$23.5 million) in the third quarter of 2021, representing an increase of 67% from RMB90.6 million in the third quarter of 2020.

Non-GAAP gross profit3 was RMB154.5 million (US$24.0 million) in the third quarter of 2021, representing an increase of 68% from RMB91.9 million in the third quarter of 2020.

Gross margin for the third quarter of 2021 increased to 30% from 25% in the third quarter of 2020. Non-GAAP gross margin for the third quarter of 2021 grew to 31% from 25% in the third quarter of 2020.

Operating expenses were RMB191.3 million (US$29.7 million) in the third quarter of 2021, representing an increase of 91% from RMB100.2million in the third quarter of 2020.

Research and development expenses were RMB73.4 million (US$11.4 million) in the third quarter of 2021, representing an increase of 32% from RMB55.6 million in the third quarter of 2020. The increase was primarily due to the increased salary and welfare benefits expenses related to an increase in the number of our research and development staff and averaging salary.

Selling and marketing expenses were RMB88.2 million (US$13.7 million) in the third quarter of 2021, compared to RMB27.1 million in the third quarter of 2020, primarily attributable to the increased promotion and marketing activities.

General and administrative expenses were RMB29.7 million (US$4.6 million) in the third quarter of 2021, representing an increase of 71% from RMB17.4 million in the third quarter of 2020. The increase was mainly due to the increase in salary and welfare benefits expenses and other professional service fee.

Operating loss was RMB40.1 million (US$6.2 million) in the third quarter of 2021, compared to RMB9.6 million in the third quarter of 2020.

Non-GAAP operating loss4 was RMB30.1 million (US$4.7 million) in the third quarter of 2021, compared to RMB2.9 million in the third quarter of 2020.

Net loss was RMB37.1 million (US$5.8 million) in the third quarter of 2021, compared to RMB6.1 million in the third quarter of 2020.

Non-GAAP net loss5 was RMB27.2 million (US$4.2 million) in the third quarter of 2021, compared to non-GAAP net income of RMB0.6 million in the third quarter of 2020.

Net loss attributable to LIZHI INC.s ordinary shareholders was RMB37.1 million (US$5.8 million) in the third quarter of 2021, compared to RMB6.1 million in the third quarter of 2020.

Non-GAAP net loss attributable to LIZHI INC.s ordinary shareholders6 was RMB27.2 million (US$4.2 million) in the third quarter of 2021, compared to non-GAAP net income attributable to LIZHI INC.s ordinary shareholders of RMB0.6 million in the third quarter of 2020.

Basic and diluted net loss per ADS7 were RMB0.73 (US$0.11) in the third quarter of 2021, compared to RMB0.13 in the third quarter of 2020.

Non-GAAP basic and diluted net loss per ADS8 were RMB0.54 (US$0.08) in the third quarter of 2021, compared to non-GAAP basic and diluted net income of RMB0.01 per ADS in the third quarter of 2020.

____________3 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 RMB3.2 million (US$0.5 million) in the third quarter of 2021. Please refer to the section below titled Unaudited Reconciliations of GAAP and Non-GAAP Results for details.4 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 RMB9.9 million (US$1.5 million) in the third quarter of 2021. Please refer to the section below titled Unaudited Reconciliations of GAAP and Non-GAAP Results for details.5 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 RMB9.9 million (US$1.5 million) in the third quarter of 2021. Please refer to the section below titled Unaudited Reconciliations of GAAP and Non-GAAP Results for details.6 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 RMB9.9 million (US$1.5 million) and RMB6.6 million in the third quarter of 2021 and 2020, respectively. Please refer to the section below titled Unaudited Reconciliations of GAAP and Non-GAAP Results for details.7 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.8 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.

Balance Sheets

As of September 30, 2021, the Company had cash and cash equivalents and restricted cash of RMB515.9 million (US$80.1 million).

Conference Call

The Companys management will host an earnings conference call at 8:00 PM U.S. Eastern Time on November 29, 2021 (9:00 AM Beijing/Hong Kong Time on November 30, 2021).

For participants who wish to join the call, please access the link provided below to complete the Direct Event online registration and dial in 10 minutes prior to the scheduled call start time.

Event Title: LIZHI INC. Third Quarter 2021 Earnings Conference CallConference ID: 7790167Online Registration http://apac.directeventreg.com/registration/event/Link: 7790167

Upon registration, each participant will receive a set of dial-in numbers by location, a Direct Event passcode, a unique Registrant ID, and further detailed instructions, which will be used to join the conference 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.

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

United States: +1-855-452-5696International: +61-2-8199-0299Hong Kong, China: 800-963-117Mainland, China: 400-632-2162Replay Access Code: 7790167

About LIZHI INC.

LIZHI INC. has created a comprehensive audio-based social ecosystem with a global presence. The Company aims to cater to users interests in audio entertainment and social networking through its product portfolios. LIZHI INC. envisions an audio ecosystem where everyone can be connected and interact through voices. 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 Companys 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.

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 Companys 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 RMB6.4434 to US$1.00, the exchange rate on September 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 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, including but not limited to the following: LIZHIs goals and strategies; LIZHIs future business development, results of operations and financial condition; the expected growth of the online audio market; the expectation regarding the rate at which to gain active users, especially paying users; LIZHIs ability to monetize the user base; fluctuations in general economic and business conditions in China and overseas markets; the impact of the COVID-19 to LIZHIs business operations and the economy in China and elsewhere generally; any adverse changes in laws, regulations, rules, policies or guidelines applicable to LIZHI; and assumptions underlying or related to any of the foregoing. 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

LIZHI INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS(All amounts in thousands, except for share, ADS, per share data and per ADS data)



December September September 31, 30, 30, 2020 2021 2021 RMB RMB US$ASSETS Current assets Cash and cash equivalents 315,459 511,710 79,416Short-term investments 73,022 - -Restricted cash 3,695 4,233 657Accounts receivable, net 8,361 7,393 1,147Prepayments and other current assets 19,371 35,911 5,573 Total current assets 419,908 559,247 86,793 Non-current assets Property, equipment and leasehold 34,518 30,771 4,776improvement, netIntangible assets, net 2,929 2,540 394Right-of-use assets, net 4,282 21,666 3,363Other non-current assets 2,181 895 139 Total non-current assets 43,910 55,872 8,672 TOTAL ASSETS 463,818 615,119 95,465 LIABILITIES Current liabilities Accounts payable 78,267 71,209 11,051Deferred revenue 17,001 18,353 2,848Salary and welfare payable 93,288 114,121 17,711Taxes payable 5,809 6,204 963Short-term loans 39,508 57,597 8,939Lease liabilities due within one year 3,709 10,525 1,633Accrued expenses and other current 51,047 78,444 12,175liabilities Total current liabilities 288,629 356,453 55,320 Non-current liabilities Lease liabilities 587 11,925 1,851Other non-current liabilities 5,411 4,741 736 Total non-current liabilities 5,998 16,666 2,587 TOTAL LIABILITIES 294,627 373,119 57,907

LIZHI INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)(All amounts in thousands, except for share, ADS, per share data and per ADS data)

December September September 31, 30, 30, 2020 2021 2021 RMB RMB US$ SHAREHOLDERS? EQUITY Ordinary shares (US$0.0001 parvalue, 1,500,000,000 and1,500,000,000 shares authorized asof December 31, 2020 and September30, 2021, respectively, 941,464,520shares issued and 924,318,450 shares 640 698 108 outstanding as of December 31, 2020and 1,030,177,260 shares issued and1,012,099,185 shares outstanding asof September 30, 2021,respectively).Treasury stock (12 ) (13 ) (2 )Additional paid in capital 2,409,753 2,621,366 406,830 Accumulated deficit (2,239,281 ) (2,375,446 ) (368,663 )Accumulated other comprehensive loss (1,909 ) (4,605 ) (715 )TOTAL SHAREHOLDERS? EQUITY 169,191 242,000 37,558 TOTAL LIABILITIES AND SHAREHOLDERS? 463,818 615,119 95,465 EQUITY

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 Nine Months Ended September June September September September September September 30, 30, 30, 30, 30, 30, 30, 2020 2021 2021 2021 2020 2021 2021 RMB RMB RMB US$ RMB RMB US$ Net revenues Audioentertainment 355,810 555,073 500,792 77,722 1,066,389 1,545,171 239,807 revenuesPodcast,advertising 5,650 4,212 4,052 629 16,266 14,011 2,174 and otherrevenuesTotal net 361,460 559,285 504,844 78,351 1,082,655 1,559,182 241,981 revenuesCost of (270,853 ) (400,531 ) (353,575 ) (54,874 ) (833,428 ) (1,124,099 ) (174,457 )revenues^ (1)Gross profit 90,607 158,754 151,269 23,477 249,227 435,083 67,524 Operating expenses^ (1)Selling andmarketing (27,131 ) (106,325 ) (88,230 ) (13,693 ) (94,052 ) (315,345 ) (48,941 )expensesGeneral andadministrative (17,406 ) (23,072 ) (29,736 ) (4,615 ) (68,573 ) (72,425 ) (11,240 )expensesResearch anddevelopment (55,625 ) (60,938 ) (73,377 ) (11,388 ) (168,887 ) (191,183 ) (29,671 )expensesTotaloperating (100,162 ) (190,335 ) (191,343 ) (29,696 ) (331,512 ) (578,953 ) (89,852 )expenses Operating loss (9,555 ) (31,581 ) (40,074 ) (6,219 ) (82,285 ) (143,870 ) (22,328 ) Interest (661 ) (308 ) (393 ) (61 ) (1,430 ) (949 ) (147 )expenses, netForeignexchange gains (32 ) 1 (279 ) (43 ) (678 ) (427 ) (66 )/(losses)Investment 382 53 8 1 777 468 73 incomeGovernment 4,033 2,663 4,084 634 9,672 9,664 1,500 grantsOthers, net (241 ) 144 (446 ) (69 ) (2,393 ) (1,051 ) (163 ) Loss before (6,074 ) (29,028 ) (37,100 ) (5,757 ) (76,337 ) (136,165 ) (21,131 )income taxes Income tax - - - - - - - expenses Net loss (6,074 ) (29,028 ) (37,100 ) (5,757 ) (76,337 ) (136,165 ) (21,131 ) Accretions topreferredshares - - - - (154,066 ) - - redemptionvalue Net lossattributableto LIZHI (29,028 ) (37,100 ) (5,757 ) (136,165 ) (21,131 )INC.?s (6,074 ) (230,403 )ordinaryshareholders

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 Nine Months Ended September June September September September September September 30, 30, 30, 30, 30, 30, 30, 2020 2021 2021 2021 2020 2021 2021 RMB RMB RMB US$ RMB RMB US$ Net loss (6,074 ) (29,028 ) (37,100 ) (5,757 ) (76,337 ) (136,165 ) (21,131 ) Othercomprehensive income/(loss):Foreigncurrency (6,181 ) (5,016 ) 1,184 184 271 (2,696 ) (418 )translationadjustmentsTotalcomprehensive (12,255 ) (34,044 ) (35,916 ) (5,573 ) (76,066 ) (138,861 ) (21,549 )lossAccretions topreferredshares - - - - (154,066 ) - - redemptionvalueComprehensivelossattributableto LIZHI (34,044 ) (35,916 ) (5,573 ) (138,861 ) (21,549 )INC.?s (12,255 ) (230,132 )ordinaryshareholders Net lossattributableto LIZHIINC.?s ordinaryshareholdersper share?Basic (0.01 ) (0.03 ) (0.04 ) (0.01 ) (0.27 ) (0.14 ) (0.02 )?Diluted (0.01 ) (0.03 ) (0.04 ) (0.01 ) (0.27 ) (0.14 ) (0.02 )Weightedaveragenumber of ordinaryshares?Basic 922,272,330 997,522,794 1,014,757,633 1,014,757,633 867,682,957 981,348,659 981,348,659 ?Diluted 922,272,330 997,522,794 1,014,757,633 1,014,757,633 867,682,957 981,348,659 981,348,659 Net lossattributableto LIZHIINC.?s ordinaryshareholdersper ADS?Basic (0.13 ) (0.58 ) (0.73 ) (0.11 ) (5.31 ) (2.78 ) (0.43 )?Diluted (0.13 ) (0.58 ) (0.73 ) (0.11 ) (5.31 ) (2.78 ) (0.43 )Weightedaverage number of ADS?Basic 46,113,617 49,876,140 50,737,882 50,737,882 43,384,148 49,067,433 49,067,433 ?Diluted 46,113,617 49,876,140 50,737,882 50,737,882 43,384,148 49,067,433 49,067,433

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

Three Months Ended Nine Months Ended September June September September September September September 30, 30, 30, 30, 30, 30, 30, 2020 2021 2021 2021 2020 2021 2021 RMB RMB RMB US$ RMB RMB US$ Cost of 1,264 3,112 3,183 494 11,217 8,965 1,391revenuesSelling andmarketing 236 1,025 1,084 168 1,932 2,392 371expensesGeneral andadministrative 2,401 3,421 2,968 461 11,822 9,617 1,493expensesResearch anddevelopment 2,740 2,278 2,708 420 14,512 7,050 1,094expenses

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 Nine Months Ended September June September September September September September 30, 30, 30, 30, 30, 30, 30, 2020 2021 2021 2021 2020 2021 2021 RMB RMB RMB US$ RMB RMB US$ Gross profit 90,607 158,754 151,269 23,477 249,227 435,083 67,524 Share-basedcompensation 1,264 3,112 3,183 494 11,217 8,965 1,391 expensesNon-GAAP 91,871 161,866 154,452 23,971 260,444 444,048 68,915 gross profit Operating (9,555 ) (31,581 ) (40,074 ) (6,219 ) (82,285 ) (143,870 ) (22,328 )lossShare-basedcompensation 6,641 9,836 9,943 1,543 39,483 28,024 4,349 expensesNon-GAAPoperating (2,914 ) (21,745 ) (30,131 ) (4,676 ) (42,802 ) (115,846 ) (17,979 )loss Net loss (6,074 ) (29,028 ) (37,100 ) (5,757 ) (76,337 ) (136,165 ) (21,131 )Share-basedcompensation 6,641 9,836 9,943 1,543 39,483 28,024 4,349 expensesNon-GAAP netincome/ 567 (19,192 ) (27,157 ) (4,214 ) (36,854 ) (108,141 ) (16,782 )(loss) Net lossattributableto LIZHI (6,074 ) (29,028 ) (37,100 ) (5,757 ) (136,165 ) (21,131 )INC.?s (230,403 )ordinaryshareholdersShare-basedcompensation 6,641 9,836 9,943 1,543 39,483 28,024 4,349 expensesAccretionsto preferredshares - - - - 154,066 - - redemptionvalueNon-GAAP netincome/(loss)attributable 567 (19,192 ) (27,157 ) (4,214 ) (108,141 ) (16,782 )to LIZHI (36,854 )INC.?sordinaryshareholders Non-GAAP netincome/(loss)attributableto LIZHI INC.?sordinaryshareholdersper share?Basic 0.00 (0.02 ) (0.03 ) (0.00 ) (0.04 ) (0.11 ) (0.02 )?Diluted 0.00 (0.02 ) (0.03 ) (0.00 ) (0.04 ) (0.11 ) (0.02 )Weightedaveragenumber of ordinaryshares?Basic 922,272,330 997,522,794 1,014,757,633 1,014,757,633 867,682,957 981,348,659 981,348,659 ?Diluted 936,247,945 997,522,794 1,014,757,633 1,014,757,633 867,682,957 981,348,659 981,348,659 Non-GAAP netincome/(loss)attributableto LIZHI INC.?sordinaryshareholdersper ADS?Basic 0.01 (0.38 ) (0.54 ) (0.08 ) (0.85 ) (2.20 ) (0.34 )?Diluted 0.01 (0.38 ) (0.54 ) (0.08 ) (0.85 ) (2.20 ) (0.34 )Weightedaverage number ofADS?Basic 46,113,617 49,876,140 50,737,882 50,737,882 43,384,148 49,067,433 49,067,433 ?Diluted 46,812,397 49,876,140 50,737,882 50,737,882 43,384,148 49,067,433 49,067,433