POP MART's Branded Podcast, POP PARK, Launches on LIZHI Podcast

GUANGZHOU,China,March 17,2021 --LIZHI INC. ("LIZHI" or the "Company") (NASDAQ: LIZI),a leading online UGC audio community and interactive audio entertainment platform in China,today announced that it has officially launched POP PARK,the branded podcast channel of POP MART available through the LIZHI Podcast platform.

POP PARK features stories on pop culture,fashion and trendy toys. In its first podcast episode,Li Guoqing of itoyz and POP PARK's host discussed the history and development of pop culture and currently trending toys. They also talked about the different spheres of art and how they can be merged,as well as how obscure forms of art can enter the mainstream. As a leading pop culture and entertainment company in China,POP MART is in a unique position to help this niche interest develop into a lifestyle and culture for the new generation of youths.

In the future,POP PARK plans to invite designers,artists,and fashion brands to share their stories with LIZHI Podcast users.

LIZHI Podcast (LIZHI BOKE in Chinese) is a vertical podcast platform of the Company that engages users with high-quality,curated podcast content. In February 2021,LIZHI first announced its collaboration with POP MART to collectively create its branded podcast channel on LIZHI Podcast. Through this collaboration,LIZHI aims to help the branded podcast of POP MART reach a broader audience base and increase their brand awareness.

About LIZHI INC.

LIZHI INC. has built a cross-border audio ecosystem 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 products 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.

For more information,please visit: http://ir.lizhi.fm.

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

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