LIZHI INC. Files 2021 Annual Report on Form 20-F and Announces Changes to Board Composition
April 27 2022 - 4:19PM
LIZHI INC. ("LIZHI" or the "Company") (NASDAQ: LIZI), an
audio-based social and entertainment platform, today announced that
it filed its annual report on Form 20-F for the fiscal year ended
December 31, 2021, with the Securities and Exchange Commission (the
"SEC") on April 27, 2022 (U.S. Time). The annual report, which
contains the Company's audited consolidated statements, can be
accessed on the SEC's website at http://www.sec.gov and the
Company's investor relations website at http://ir.lizhi.fm.
The Company will provide a hard copy of its
annual report, free of charge, to its shareholders and ADS holders
upon request. Requests should be directed to ir@lizhi.fm or the
Investor Relations Department at LIZHI INC., Yangcheng Creative
Industry Zone, No. 309 Middle Huangpu Avenue, Tianhe District,
Guangzhou 510655, the People's Republic of China.
The Company also announced the following changes
to the Company’s Board of Directors (the “Board”) with immediate
effect:
- Three non-independent directors of
the Company, including Mr. Ning Ding, Mr. Zelong Li and Mr. Junhua
Zhang, step down from the Board.
- Mr. Ding no longer serves as a
member of the nominating and corporate governance committee of the
Board.
- Mr. Junhua Zhang no longer serves
as a member of the compensation committee and the nominating and
corporate governance committee of the Board.
- Mr. Ming Zhang, an independent
director of the Company, has been appointed as a member of both the
compensation committee and the nominating and corporate governance
committee of the Board.
- Ms. Juan Ren has been appointed as
a member of the nominating and corporate governance committee of
the Board.
Upon the effectiveness of these changes, the
Board will consist of six directors, including four independent
directors. Furthermore, Mr. Ding and Mr. Li will continue to serve
as the Company’s Chief Technology Officer and Chief Operating
Officer, respectively.
“In our ongoing efforts to strengthen our
corporate governance for the benefit of our shareholders and in
alignment with our goal of long-term value creation, we have
refreshed our Board composition to ensure strong independent
oversight,” Mr. Jinnan (Marco) Lai, Founder and CEO of LIZHI,
commented. “At present, the majority of our Board are independent
with diverse social and professional experience, which we believe
will provide deep insights and broad perspectives to enhance the
Board’s overall effectiveness. We also thank Mr. Ding, Mr. Li and
Mr. Zhang for their substantial contribution to us during their
board tenures and look forward to their continued contribution in
their management roles with the Company.”
About LIZHI INC.
LIZHI INC. has created a comprehensive
audio-based social ecosystem with a global presence. The Company
aims to cater to users' interests in audio entertainment and social
networking through its product portfolios. LIZHI INC. envisions an
audio ecosystem where everyone can be connected and interact
through voices. 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)
3866-4265E-mail: ir@lizhi.fm
The Piacente Group, Inc.Jenny CaiTel: +86 (10)
6508-0677E-mail: Lizhi@tpg-ir.com
In the United States:
The Piacente Group, Inc. Brandi PiacenteTel:
+1-212-481-2050E-mail: Lizhi@tpg-ir.com
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