LIZHI Enters into In-car Audio Collaboration with PATEO

Rhea-AI Summary

LIZHI INC. (NASDAQ: LIZI) has partnered with PATEO, a leading IoV company in China, to enhance LIZHI's audio products within PATEO's IoV system. This collaboration aims to optimize in-car audio experiences by combining LIZHI's audio technology with PATEO's expertise. The partnership will explore diverse in-car audio applications, providing users with improved audio entertainment options. LIZHI's extensive content and AI-driven systems will support this initiative. Both companies aim to enhance the Internet of Vehicles ecosystem together.

Positive

• Partnership with PATEO enhances LIZHI's audio technology for in-car applications.
• Opportunity to expand user reach in the Internet of Vehicles sector.
• Utilization of AI technology to improve audio content delivery.

Negative

• None.

GUANGZHOU, China, Aug. 04, 2021 (GLOBE NEWSWIRE) -- LIZHI INC. ("LIZHI" or the "Company") (NASDAQ: LIZI), a leading online UGC audio community and interactive audio entertainment platform in China, announced today that it has partnered with PATEO, a leading Internet of Vehicles (IoV) company in China, to boost the development of LIZHI’s audio products in PATEO’s loV system.

Founded in 2009, PATEO is one of China’s leading IoV and intelligent networking connected car companies, and is committed to providing research and development, manufacturing and digital connectivity support services for intelligent in-car information systems. PATEO’s software design is based on Service-Oriented Architecture (SOA) to offer users software applications for cockpit, vehicle, and autonomous vehicle usage scenarios. PATEO’s technology has been integrated into close to 100 vehicle models from about 30 automobile brands across more than 30 countries and regions.

This partnership will enable synergetic collaboration between LIZHI and PATEO by bringing together sophisticated technologies from their respective fields. LIZHI will capitalize on PATEO’s expertise in IoV and smart cockpits to further optimize the application of in-car audio products in various usage scenarios and provide users with more diverse in-car audio entertainment options.

LIZHI aims to offer users a high-quality in-car audio experience leveraging LIZHI’s extensive and personalized audio content offerings, AI-powered intelligent recommendation and distribution systems, as well as the Company’s in-house audio technology solution DOREME. Both LIZHI and PATEO will also actively work on exploring usage scenarios for in-car audio and the potential of in-car audio applications.

“We are very pleased to cooperate with LIZHI to jointly advance the development of the Internet of Vehicles ecosystem,” said Mr. Ken (Yilun) Ying, Founder and Chief Executive Officer of PATEO. “PATEO will utilize its unique software and hardware capabilities to promote the application of LIZHI’s audio products in more in-car scenarios and at the same time accelerate the integration of LIZHI’s audio products into automotive systems.”

Mr. Jinnan (Marco) Lai, Founder and Chief Executive Officer of LIZHI, said, “The innovative spirit of PATEO’s technologies is a perfect match for LIZHI’s strategy in proprietary audio solutions. I believe that this partnership may bolster LIZHI’s integration of audio into various devices and usage scenarios. In the future, we will continue enriching our audio content, advancing our proprietary technology, collaborating with more leading companies, and continuously providing diverse audio experiences to a wider range of users.”

About LIZHI INC.

LIZHI INC. (the "Company" or "LIZHI") 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.

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

 

FAQ

What is the partnership between LIZHI Inc. and PATEO about?

LIZHI Inc. has partnered with PATEO to enhance in-car audio experiences using LIZHI's audio products within PATEO's Internet of Vehicles system.

How will the LIZHI and PATEO partnership benefit users?

The partnership will provide users with more diverse in-car audio entertainment options by combining advanced audio technology with IoV capabilities.

What does LIZHI Inc. aim to achieve with this partnership?

LIZHI aims to optimize its audio products for various in-car scenarios and enhance the Internet of Vehicles ecosystem through collaboration with PATEO.

When was the partnership between LIZHI and PATEO announced?

The partnership was announced on August 4, 2021.

What is LIZHI's stock symbol?

LIZHI's stock symbol is LIZI, and it is listed on NASDAQ.