<SEC-DOCUMENT>0000950123-19-007090.txt : 20200214
<SEC-HEADER>0000950123-19-007090.hdr.sgml : 20200214
<ACCEPTANCE-DATETIME>20190806161414
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000950123-19-007090
CONFORMED SUBMISSION TYPE:	DRSLTR
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20190806

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LIZHI INC.
		CENTRAL INDEX KEY:			0001783407
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. [7370]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			F4
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DRSLTR

	BUSINESS ADDRESS:	
		STREET 1:		YANGCHENG CREATIVE INDUSTRY ZONE
		STREET 2:		NO.309, HUANGPU AVENUE, MIDDLE
		CITY:			TIANHE DISTRICT, GUANGZHOU
		STATE:			F4
		ZIP:			510655
		BUSINESS PHONE:		020 8381-8791

	MAIL ADDRESS:	
		STREET 1:		YANGCHENG CREATIVE INDUSTRY ZONE
		STREET 2:		NO.309, HUANGPU AVENUE, MIDDLE
		CITY:			TIANHE DISTRICT, GUANGZHOU
		STATE:			F4
		ZIP:			510655
</SEC-HEADER>
<DOCUMENT>
<TYPE>DRSLTR
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>
<HTML><HEAD>
<TITLE>DRSLTR</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="57%"></TD>

<TD VALIGN="bottom"></TD>
<TD WIDTH="11%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="9%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD COLSPAN="5" VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>New York Northern&nbsp;California Washington DC</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>S&atilde;o Paulo</B></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman"><B>London</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Paris</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Madrid</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Tokyo</B></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman"><B>Beijing
Hong&nbsp;Kong</B></P></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="57%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="40%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">


<IMG SRC="g762894g0802002819553.jpg" ALT="LOGO">
</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="25%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="14%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="26%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="16%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="15%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD COLSPAN="3" VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3"><B>Resident Hong Kong Partners</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Davis Polk&nbsp;&amp; Wardwell</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Hong Kong
Solicitors</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The&nbsp;Hong&nbsp;Kong&nbsp;Club&nbsp;Building</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">3A
Chater Road</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Hong Kong</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">852 2533 3300 tel</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">852 2533 3388 fax</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">William F. Barron*</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Bonnie Chan*</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Karen Chan&#134;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Yang Chu&#134;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">James C. Lin*</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Gerhard Radtke*</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Martin Rogers&#134;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Patrick S. Sinclair*</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Miranda So*</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">James Wadham&#134;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Hong Kong Solicitors</I></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>*
Also Admitted in New York</I></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman"><I>&#134; Also Admitted in England and Wales</I></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">August 6, 2019 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>Re:</B><B></B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B></B>LIZHI INC. (CIK: 0001783407) </P></TD></TR></TABLE>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Confidential Submission of the Draft Registration Statement on Form <FONT STYLE="white-space:nowrap">F-1</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Confidential </U></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Draft Registration Statement </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Securities and Exchange Commission </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 F Street, N.E. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington, D.C. 20549 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Sir/Madam: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On behalf of LIZHI INC. (the &#147;<B>Company</B>&#148;), a company incorporated under the laws of the Cayman Islands, we are submitting the
Company&#146;s draft Registration Statement on Form <FONT STYLE="white-space:nowrap">F-1</FONT> (the &#147;<B>Registration Statement</B>&#148;) relating to a proposed initial public offering in the United States by the Company of American Depositary
Shares (&#147;<B>ADSs</B>&#148;) representing the Company&#146;s ordinary shares, par value US$0.0001 per share. Subject to market conditions and the review of the staff (the &#147;<B>Staff</B>&#148;) of the Securities and Exchange Commission (the
&#147;<B>Commission</B>&#148;), the Company currently expects to file a preliminary prospectus containing the estimated offering size and a price range in October 2019. The Company confirms that its securities have not been previously sold pursuant
to an effective registration statement under the Securities Act of 1933, as amended. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company is an &#147;emerging growth
company,&#148; as defined in Section&nbsp;2(a) of the Securities Act of 1933, as amended. In accordance with the procedures of the Commission for emerging growth companies, the enclosed draft Registration Statement is being submitted to the Staff in
draft form and on a confidential basis. The Company confirms to the Staff that it will publicly file the draft registration statement previously submitted on a confidential basis at least 15 days prior to any road show in connection with the
proposed offering. A registration statement on Form <FONT STYLE="white-space:nowrap">F-6</FONT> relating to the ADSs will be filed with the Commission in due course. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If you have any questions regarding this submission, please contact Li He at +852 2533-3306 (<U>li.he@davispolk.com</U>) or Kevin Zhang at
+852 2533-3384 (<U>kevin.zhang@davispolk.com</U>). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Thanks for your time and attention. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Davis Polk includes Davis Polk&nbsp;&amp; Wardwell LLP and its associated entities. </P>
</DIV></Center>


<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">

<TR>

<TD WIDTH="35%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="32%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="31%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Securities and Exchange Commission</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">August 6, 2019</TD></TR></TABLE> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>

<TD WIDTH="100%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Yours sincerely,</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Li He</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Li He</TD></TR>
</TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">cc:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Ms. Xi (Catherine) Chen, Chief Financial Officer </P></TD></TR></TABLE>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">LIZHI INC. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Ms.&nbsp;Z. Julie
Gao, Esq., Partner </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Skadden, Arps, Slate, Meagher&nbsp;&amp; Flom LLP </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Der Hua You, Partner </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Ms.&nbsp;Josie Zhao, Partner </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">PricewaterhouseCoopers Zhong Tian LLP </P>
</DIV></Center>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>g762894g0802002819553.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g762894g0802002819553.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1"  > )L# 2(  A$! Q$!_\0
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M*2>2N AQD8Z=Z[;X;ZWJ'B#PFM]J4PEN#/(FX(%X!XX%>36?_)%]3_["D?\
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/DK<CE>&QVT/:*%JFZ/_9

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
