Welcome to our dedicated page for Lizhi news (Ticker: LIZI), a resource for investors and traders seeking the latest updates and insights on Lizhi stock.
Lizhi Inc. (NASDAQ: LIZI) is a pioneering online User-Generated Content (UGC) audio community and interactive audio entertainment platform based in China. The company's mission is to enable everyone to showcase their vocal talents and bring people closer together through voices. Since its inception and the launch of the Lizhi app in 2013, Lizhi has cultivated a vibrant and growing community that encourages audio content creation and sharing.
Lizhi has built an audio wonderland that offers a wide range of podcasts and audio entertainment products, including audio live streaming and various interactive audio features. This platform empowers users to enjoy an immersive and diversified entertainment experience through audio. Lizhi envisions a global audio community where everyone can create, share, and connect through voices and across cultures.
Today, Lizhi's platform is home to millions of users and content creators, making it one of the largest UGC audio communities in China. The company has been likened to an 'audio version of Instagram and YouTube' for its groundbreaking role in reshaping the traditional audio industry by integrating production, storage, and distribution into a seamless one-stop solution accessible via mobile devices.
Latest Achievements and Financial Health:
- Recently, Lizhi reported its unaudited financial results for the third quarter of 2023. Non-GAAP basic and diluted net loss per ADS were noted as a key financial metric.
- The company continues to innovate with AI-driven audio applications, fostering a future where audio bridges gaps and amplifies human connections.
Partnerships and Collaborations:
Lizhi collaborates with various stakeholders to enhance its service offerings and expand its reach. These partnerships are crucial for implementing new interactive features and expanding its market presence both within China and internationally.
Investors and those interested in Lizhi's performance can access the latest updates, financial results, and corporate developments through the company's investor relations department or via their official website.
LIZHI, an audio-based social platform, was recognized by Huawei as an Outstanding Partner at the 2021 Huawei Smart Car Solutions Ecological Forum held on December 21, 2021. The event featured key automotive industry players sharing insights. LIZHI Podcast has been integrated into Huawei's HarmonyOS, introducing features such as voice search and seamless connectivity. The partnership aims to enhance the in-vehicle audio experience, with plans for further innovations in podcasts and user engagement.
LIZHI INC. (NASDAQ: LIZI) reported third-quarter 2021 financial results, showing a 40% increase in net revenues to RMB504.8 million (US$78.4 million) compared to RMB361.5 million in Q3 2020. The company saw average monthly active users rise by 5% to 58.9 million and total monthly paying users increase by 8% to 485.5 thousand. Despite these gains, LIZHI experienced a net loss of RMB37.1 million (US$5.8 million), compared to RMB6.1 million in the prior year. The gross margin improved to 30%, up from 25% in Q3 2020, while operating expenses surged by 91%.
LIZHI INC. (NASDAQ: LIZI) will announce its third quarter 2021 financial results on November 29, 2021, after U.S. market close. An earnings call will follow at 8:00 PM ET. Participants can register via the provided link to receive dial-in information. LIZHI is known for its interactive audio entertainment platforms and aims to foster global audio connectivity through its products. The earnings call will be accessible live and archived on its investor relations website.
LIZHI INC. (NASDAQ: LIZI) announced its podcast platform's integration into Huawei’s HarmonyOS at the 2021 Huawei Developer Conference. This collaboration will enhance user experiences with new features like voice search and in-car functionality, marking LIZHI as the first Chinese podcast platform to support Livestream podcasts in vehicles. The LIZHI Podcast App will soon be available on HarmonyOS smart car systems, improving cross-device connectivity. The company aims to broaden its audience and innovate within the in-car podcast space, leveraging Huawei's technological capabilities.
LIZHI INC. (NASDAQ: LIZI), a prominent audio community platform in China, has received recognition from the Guangdong Science and Technology Department for its Audio Engineering Technology Research Center, now included in the 2021 list of Engineering Technology Research Centers. This designation underscores LIZHI's commitment to advancing core audio technology and innovation. The center focuses on developing cutting-edge audio solutions like DOREME, enhancing interactive audio capabilities. LIZHI aims to support sustainable business growth and contribute to the broader audio industry.
LIZHI INC. (NASDAQ: LIZI) has launched a new 'My Friends' live status/mood feature on its TIYA app, enhancing user interactions by allowing friends to connect based on shared moods or activities. This feature employs an algorithm to simplify user connections and increase engagement. The app has seen a growth of over 180% in active chat rooms since March 2021. LIZHI aims to innovate audio social networking and expand its global reach, leveraging its expertise to improve user experience according to CEO Marco Lai.
LIZHI INC. (NASDAQ: LIZI) announced its inclusion in the FTSE Global Equity Index Series, effective after the U.S. market close on September 17, 2021. This recognition highlights the company's global growth achievements and aims to enhance visibility among global investors. CEO Jinnan (Marco) Lai emphasized LIZHI's commitment to a globalization strategy and sustainable growth, while the FTSE GEIS encompasses over 16,000 securities across developed and emerging markets.
LIZHI (NASDAQ: LIZI) reported a robust financial performance for Q2 2021, with net revenues reaching RMB559.3 million (US$86.6 million), reflecting a 59% year-on-year increase. The average monthly active users (MAUs) grew by 9% to 60.9 million. Additionally, the monthly paying user base rose by 7% to 494.4 thousand. Gross profit surged by 85% to RMB158.8 million (US$24.6 million), with gross margins improving to 28%. However, the company recorded a net loss of RMB29.0 million (US$4.5 million), up 32% from the previous year, attributed to rising operating expenses, particularly in marketing and salaries.
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