LIZHI INC. Among the First to be Selected into Government-backed Pilot Program to Bolster Local Online Audiovisual Industry

GUANGZHOU,China,Oct. 12,2020 -- LIZHI INC. ("LIZHI" or the "LIZHI app" or "the Company") (NASDAQ: LIZI),a leading online UGC audio community and interactive audio entertainment platform in China,has been selected into first 10 Guangdong-based online audiovisual companies to participate in a local government-backed pilot program,which stands out companies that spearhead the innovation in products,services and business models through the development,promotion and application of cutting-edge technology,and play a significant role in the development of online audiovisual industry.

With the deployment of 5G network,the rapid development of AI and the IoT technologies,Guangdong Province — home to numerous tech and internet giants — is exploring new governance models for the online audiovisual industry to promote healthy development of diverse,high-quality on-demand and streaming content. In late 2019,the Administration of Radio,Film and Television of Guangdong Province commissioned an independent group of experts to accredit the industry's leading 5G and Smart Audiovisualpilot organizations in the jurisdiction. All ten companies selected were evaluated by the third-party experts before receiving the honor.

"We are truly honored to be selected into this pilot program among the first in the region. The Administration's recognition of LIZHI reaffirms the role that our platform plays in creating a global audio community where the world can create,share and connect through audio and across cultures," said Mr. Ning Ding,Co-Founder and Chief Technology Officer of LIZHI.

LIZHI has established a unique online audio content management mechanism and ecosystem to ensure the platform to deliver various content coupled with positive values to the public. The LIZHI app has integrated diverse contents into its AI-driven recommendation algorithm and distribution engines to highlight content involving positive values while ensuring age-appropriate audio contents for younger audiences.

Looking ahead,LIZHI will continue to drive innovation in the online audiovisual industry. The company aims to enhance its capabilities to support content creators through AI-driven technology,explore more commercialization models,develop new ways of content distribution for IoT devices,and optimize interactive features and its user interface to create a more immersive and diversified audio entertainment experience.

LIZHI will also continue to improve upon its copyright protection system; strengthen management mechanisms for emergency responses,community service broadcasts; and invest in technology to upgrade information security and content security defenses.

Since its launch,LIZHI has developed new services and business models for online audio with its advanced technology and has become a powerful force for innovation within the industry. LIZHI is one of the top 100 Internet companies in China and was officially listed on the Nasdaq in January 2020 — becoming the exchange's first Chinese member focusing on online audio.

As the leading online UGC audio community and the interactive audio entertainment platform in China,LIZHI app has revolutionized the production and consumption of audio content. With a mission to enable everyone to showcase their vocal talents,the platform combines convenient recording and editing functions with powerful noise reduction to significantly reduce the challenges associated with recording high-quality audio files — allowing everyone to record and share the sounds of daily life using only their smartphones. Today,the platform is an audio wonderland offering a wide range of podcasts and audio entertainment products and features,including audio live streaming and various interactive audio products that is shareable on social media.

About LIZHI INC.

LIZHI INC. is a leading online UGC audio community and interactive audio entertainment platform in China,with a mission to enable everyone to showcase vocal talent. The Company is aiming to bring people closer together through voices.

Since the launch of its Lizhi app in 2013,LIZHI has cultivated a vibrant and growing community encouraging audio content creation and sharing. Now LIZHI is an audio wonderland offering a wide range of podcasts and audio entertainment products and features,including audio live streaming and various interactive audio social products,empowering users to enjoy an immersive and diversified entertainment experience through audio.

LIZHI envisions a global audio community – a place where everyone can create,share and connect with each other through voices and across cultures.

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