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LIZHI INC . Reports First Quarter 2021 Unaudited Financial Results GUANGZHOU , June 1 , 2021 / GLOBE NEWSWIRE / - LIZHI INC . ( “ LIZHI ” or the “ Company ” or “ We ” ) ( NASDAQ : LIZI ) , a leading online UGC¹ audio community and interactive audio entertainment platform in China , today announced its unaudited financial results for the first quarter ended March 31 , 2021 . First Quarter 2021 Financial and Operational Highlights • • • Net revenues were RMB495.1 million ( US $ 75.6 million ) in the first quarter of 2021 , representing a 34 % increase from RMB370.3 million in the first quarter of 2020 . Average total mobile MAUS² in the first quarter of 2021 reached 59.7 million , representing an increase of 10 % from 54.5 million in the first quarter of 2020 . Average total monthly paying users³ in the first quarter of 2021 reached 474.7 thousand , representing an increase of 5 % from 450.3 thousand in the first quarter of 2020 . " We kicked off 2021 with strong top line performance in the first quarter . As we continue to strengthen our comprehensive audio ecosystem , we further reinforced our globalization strategy through overseas expansion and enhanced our technological capabilities in AI and online audio to fuel business growth , " said Mr. Jinnan ( Marco ) Lai , Founder and Chief Executive Officer of LIZHI . “ Our determined efforts to strengthen user engagement and interactions have been key to our global audio ecosystem . In the first quarter of 2021 , our average mobile MAUS grew to 59.7 million . TIYA App , our audio- based social networking app targeting overseas markets , continued its strong growth momentum in the quarter as we added new features and improved its social networking capabilities in order to engage a wider user base . Notably , TIYA App's mobile MAUS reached more than two million in March , representing a 90 % increase from the average mobile MAUs of TIYA App in the fourth quarter of 2020. In addition , we believe our operating strategy on an audio - centric UGC community has helped us further promote conversion of our traffic to monthly paying users , which grew 12 % sequentially to 474.7 thousand in the first quarter of 2021 . In the first quarter , we are effectively executing our podcast strategy and working with more leading auto companies to enhance online audio experiences for diverse usage scenarios . We have also further boosted our in - house technological capabilities with the DOREME project , an audio technology solution built to provide support to various business lines . Powered by our in - house real - time communication technology developed by DOREME , we launched an innovative and interactive feature " Livestream Podcast " on LIZHI Podcast , which was further applied to the in - car scenario , providing users a stable and smooth audio experience in diverse usage scenarios . In the future , we will continue to focus on building a competitive audio ecosystem , driving an extensive overseas expansion and further accelerating business growth with cutting - edge technologies . " concluded Mr. Lai . Ms. Chengfang Lu , Acting Chief Financial Officer of LIZHI , commented , " We are very pleased to have achieved strong top line growth of 34 % year - over - year and reached a net revenue of RMB495.1 million in the first quarter of 2021. Our robust growth was driven by our continued efforts to build a competitive audio ecosystem including a vibrant UGC community and advanced commercialization capabilities . In addition , we have strategically invested to enhance our brand equity as we boost our LIZHI Podcast and in - car audio business , and to expand our footprint overseas through TIYA App , all of which we believe will propel our business growth in the future . Looking ahead , we remain committed to leveraging our operating capabilities and advanced technologies to further develop our global audio ecosystem and enhance brand building to consistently deliver solid long - term growth . " First Quarter 2021 Unaudited Financial Results Refers to user - generated content . 2 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 . 3 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 . 1