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Organization and Reorganization (Tables)

12 Months Ended

Dec. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Summary of Major Subsidiaries Consolidated Vies and Vies Subsidiaries

As of December 31, 2021, the Company’s consolidated subsidiaries, the VIEs and subsidiaries of VIEs are as follows:

Major Subsidiaries		Place and year of incorporation		Percentage of direct or indirect economic ownership		Principal activities
Lizhi Inc. (“Lizhi BVI”)		British Virgin Islands, Y2010		100		Investment holding
Lizhi Holding Limited (“Lizhi HK”)		Hong Kong, China Y2010		100		Investment holding
Beijing Hongyiyichuang Information Technology Co., Ltd. (“Hongyi Technology”)		Beijing, China Y2011		100		Technical support and consulting services, advertising service
Tiya Inc. (“Tiya Cayman”)		Cayman Islands, Y2019		100		Investment holding
TIYA INC. (“Tiya BVI”)		British Virgin Islands, Y2019		100		Investment holding
Tiya Holding Limited (“Tiya HK”)		Hong Kong, China Y2019		100		Investment holding
TIYA PTE. LTD.		Singapore Y2019		100		Audio entertainment business and others
NASHOR PTE. LTD.		Singapore Y2019		100		Audio entertainment business and others
Guangzhou Tiya Information Technology Co., Ltd. (“Guangzhou Tiya”)		Guangzhou, China Y2019		100		Technical support and consulting services
Tiya Inc. (“Tiya USA”)		USA Y2020		100		Audio entertainment business and others
Major VIEs		Place and year of incorporation/ acquisition		Percentage of direct or indirect economic ownership		Principal activities
Guangzhou Lizhi Network Technology Co., Ltd. (“Guangzhou Lizhi”)		Guangzhou, China Y2007		100		Audio entertainment and podcast business
Guangzhou Huanliao Network Technology Co., Ltd. (“Guangzhou Huanliao”) *		Guangzhou, China Y2016		100		Audio entertainment business and others
Major subsidiaries of VIEs		Place and year of incorporation		Percentage of direct or indirect economic ownership		Principal activities
Changsha Limang Interaction Entertainment Co., Ltd.		Changsha, China Y2015		100		Audio entertainment business and others
Huai’an Lizhi Network Technology Co., Ltd.		Huai’an, China Y2015		100		Audio entertainment business and others
Wuhan Lizhi Network Technology Co., Ltd.		Wuhan, China Y2017		100		Audio entertainment business and others
Chongqing Piwan Network Technology Co., Ltd.		Chongqing, China Y2019		100		Audio entertainment business and others

* In May 2019, Guangzhou Huanliao was restructured from being a subsidiary of Guangzhou Lizhi to a VIE of Guangzhou Tiya.    

Summary of Variable Interest Entities

The following combined financial information of the VIEs as of December 31, 2020 and 2021 and for the years ended December 31, 2019, 2020 and 2021 was included in the accompanying consolidated financial statements of the Group as follows:

		As of December 31, 2020				As of December 31, 2021
		RMB				RMB
ASSETS
Current assets:
Cash and cash equivalents			148,979				191,549
Short-term investments			73,022				—
Restricted cash			3,695				3,023
Accounts receivable, net			2,642				1
Prepayments and other current assets			13,190				20,245
Amount due from the subsidiaries of the Group			500				197
Total current assets			242,028				215,015
Non-current assets:
Property, equipment and leasehold improvement, net			34,342				28,580
Intangible assets, net			2,929				2,245
Right-of-use assets, net			3,841				9,653
Other non-current assets			711				799
Total non-current assets			41,823				41,277
TOTAL ASSETS			283,851				256,292
Current liabilities:
Accounts payable			73,986				70,639
Deferred revenue			16,226				19,118
Salary and welfare payable			88,464				116,204
Taxes payable			4,559				4,940
Short-term loans			39,508				68,999
Lease liabilities due within one year			3,542				5,767
Accrued expenses and other current liabilities			41,559				42,803
Amount due to the subsidiaries of the Group			385,583				377,331
Total current liabilities			653,427				705,801
Non-current liabilities:
Lease liabilities			587				4,132
Total non-current liabilities			587				4,132
TOTAL LIABILITIES			654,014				709,933

		For the year ended
		December 31, 2019				December 31, 2020				December 31, 2021
		RMB				RMB				RMB
Net revenues			1,179,468				1,456,190				1,975,758
Net loss			(116,891	)			(84,441	)			(81,551	)

		For the year ended
		December 31, 2019				December 31, 2020				December 31, 2021
		RMB				RMB				RMB
Net cash (used in)/generated from operating activities			(73,015	)			17,425				(17,723	)
Net cash (used in)/generated from investing activities			(29,164	)			(94,559	)			52,323
Net cash generated from financing activities			38,854				187,752				7,298
Net (decrease)/increase in cash, cash equivalents and restricted cash			(63,325	)			110,618				41,898

For the years ended December 31, 2019, 2020 and 2021, net cash generated from financial activities in the VIEs consist of: i) net borrowing from/(net repayments to) the Group companies, amounted to RMB38.9 million, RMB148.8 million and RMB(22.2) million, respectively. and ii) net proceeds from bank loans of nil, RMB39.0 million and RMB29.5 million, respectively.

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Summary of major subsidiaries consolidated vies and vies subsidiaries.

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Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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