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LIZHI INC . Reports Second Quarter 2021 Unaudited Financial Results GUANGZHOU , August 30 , 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 second quarter ended June 30 , 2021 . Second Quarter 2021 Financial and Operational Highlights • • • Net revenues were RMB559.3 million ( US $ 86.6 million ) in the second quarter of 2021 , representing a 59 % increase from RMB350.9 million in the second quarter of 2020 . Average total mobile MAUS² in the second quarter of 2021 reached 60.9 million , representing an increase of 9 % from 55.9 million in the second quarter of 2020 . Average total monthly paying users³ in the second quarter of 2021 reached 494.4 thousand , representing an increase of 7 % from 463.4 thousand in the second quarter of 2020 . " We are very pleased to continue our strong growth momentum in the second quarter of 2021 , highlighted by 59 % year - on - year revenue increase and growing MAUS and paying user base . We remain committed to our globalization strategy and leveraging optimized product features as well as strengthened technological capabilities to improve user engagement on our platforms . We believe our robust performance reflects the widespread appeal of our comprehensive and engaging audio - centric ecosystem , ” said Mr. Jinnan ( Marco ) Lai , Founder and Chief Executive Officer of LIZHI . “ Our continuous efforts to enhance the vibrancy of our user community and propel the integration of pre - recorded content division and audio entertainment division within the LIZHI App have strengthened our commercialization capabilities . " With regards to our overseas business , it is worth noting that our TIYA App , specializing in audio - based social networking , continues its strong growth in user base with MAUs in June surpassing 3.5 million , up by 92 % over average MAUS in the first quarter of 2021. We are also working to execute our product strategy by optimizing TIYA App's features as well as enhancing its social networking capabilities . We see our podcast business and in - car audio initiatives are also making meaningful progresses as we leverage our extensive industry know - how and state - of - the - art proprietary audio technology solution DOREME . In the second quarter , we formed partnerships with more leading auto companies and intelligent in - car platforms to make LIZHI Podcast accessible to more vehicles . We believe innovation and effective execution are keys to our success and competitiveness in the online audio space . Going forward , we will continue to enrich user experience across our audio ecosystem , explore diversified commercialization pathways and advance our core technologies , increasing values to our users and all stakeholders , " Mr. Lai concluded . Ms. Chengfang Lu , Acting Chief Financial Officer of LIZHI , stated , “ As we move forward with our expansion strategy , our operational and financial performance for the second quarter continued to demonstrate our strong growth trajectory and strengthened commercialization capabilities . We're also pleased to see gross margin expansion of 400 basis points year - over - year alongside our strong topline growth during the quarter . Looking ahead , we will remain focused on our globalization strategy and improving our operational and technological capabilities to foster our global audio ecosystem and deliver long - term sustainable growth . " 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