LIZHI INC. Announces Partnership with Xinghe Zhilian Automotive Technology Company

Rhea-AI Summary

LIZHI INC. (NASDAQ: LIZI) announced a partnership with Xinghe Zhilian Automotive Technology on July 16, 2021, to integrate its audio products into in-car communications and entertainment systems. Founded in December 2020, Xinghe Zhilian focuses on optimizing the driving experience through Internet of Vehicles technology. This collaboration aims to extend LIZHI's audio technology application in vehicles, enhancing user access to podcasts and immersive audio experiences.

Positive

• Partnership with Xinghe Zhilian to integrate LIZHI's audio products in vehicles may enhance market reach.
• Potential for LIZHI to expand its audio technology applications in the automotive industry, increasing user engagement.

Negative

• None.

GUANGZHOU, China, July 16, 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 inked a partnership with Xinghe Zhilian Automotive Technology Co., Ltd. (“Xinghe Zhilian”) to integrate LIZHI’s audio products into Xinghe Zhilian’s in-car communications and entertainment network.

Established in December 2020, Xinghe Zhilian Automotive Technology Co., Ltd. (also known as Galaxy Autotech) was born out of a joint venture between GAC Group and iFLYTEK. As an AI technology company in the automobile industry, Xinghe Zhilian aims to optimize the driving experience through the advancement of the Internet of Vehicles (IoV) network and smart cockpit for auto companies. Xinghe Zhilian provides auto companies with integrated intelligent cockpit solutions, artificial intelligence technology, and digital tools. As a service connector, Xinghe Zhilian provides car users with open, comprehensive, and high-quality services for full-scale scenarios and convenient access to content resources.

“We are pleased to collaborate with Xinghe Zhilian Automotive Technology Co., Ltd. to further apply LIZHI’s audio products to more in-car scenarios and further boost the application of LIZHI’s audio technology in vehicles through Xinghe Zhilian's IoV network,” said Mr. Jinnan (Marco) Lai, Founder and Chief Executive Officer of LIZHI.

“We believe that the partnership may also accelerate LIZHI’s foray into the field of in-car audio and bring LIZHI’s extensive podcast content and immersive 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 LIZHI's recent partnership about?

LIZHI's recent partnership with Xinghe Zhilian aims to integrate its audio products into in-car communication and entertainment systems.

When was LIZHI's partnership with Xinghe Zhilian announced?

The partnership was announced on July 16, 2021.

What products will LIZHI integrate with Xinghe Zhilian's technology?

LIZHI will integrate its audio products into Xinghe Zhilian's in-car communications and entertainment network.

What is the significance of LIZHI's partnership with Xinghe Zhilian?

The partnership may accelerate LIZHI's entry into the in-car audio market, broadening its user base and enhancing audio experiences.