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ADDITIONAL INFORMATION: CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY | 12 Months Ended
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Dec. 31, 2022
ADDITIONAL INFORMATION: CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY |
ADDITIONAL INFORMATION: CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY | ADDITIONAL INFORMATION: CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY Rules 12-04(a) and 4-08(e)(3) of Regulation S-X require condensed financial information as to the financial position, cash flows and results of operations of a parent company as of and for the same periods for which the audited consolidated financial statements have been presented when the restricted net assets of the consolidated subsidiaries together exceed 25% of consolidated net assets as of the end of the most recently completed fiscal year. The following condensed financial statements of the Company have been prepared using the same accounting policies as set out in the Company’s consolidated financial statements except that the Company used the equity method to account for its investment in its subsidiaries. Such investment is presented on the separate condensed balance sheets of the Company as “Deficit in subsidiaries”. The Company, its subsidiaries, the VIEs and the VIEs’ subsidiaries were included in the consolidated financial statements whereby the inter-company balances and transactions were eliminated upon consolidation. The Company’s (loss)/income from its subsidiaries is reported as “(Loss)/income from subsidiaries” in the condensed financial statements. ADDITIONAL INFORMATION: CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY (CONTINUED) As of December 31, 2021 and 2022, there were no material commitments or contingencies, significant provisions for long-term obligations or guarantees of the Company.
​ | ​ | ​ | ​ | ​
CONDENSED BALANCE SHEETS AS OF DECEMBER 31, 2021 AND 2022 |  | ​ | ​ | ​
​ | ​ | As of December 31,
​ | ​ | 2021 |  | 2022
​ | ​ | RMB | ​ | RMB
​ | ​ | ​ | ​ | ​
ASSETS | ​ | ​ | ​ | ​
Current assets: | ​ | ​ | ​ | ​
Cash and cash equivalents |  | 224,779 |  | 93,673
Short-term investments |  | — |  | 91,339
Amounts due from Lizhi Group Companies |  | 278,553 |  | 359,675
Prepayments and other current assets |  | 3,417 |  | 2,313
Total current assets |  | 506,749 |  | 547,000
Non-current assets: |  |  |  |
Deficit in subsidiaries |  | (223,293) |  | (130,257)
Total non-current assets |  | (223,293) |  | (130,257)
TOTAL ASSETS |  | 283,456 |  | 416,743
LIABILITIES |  |  |  |
Current liabilities: |  |  |  |
Salary and welfare payable |  | 1,330 |  | 2,487
Accrued expenses and other current liabilities |  | 3,021 |  | 1,683
Amounts due to Lizhi Group Companies |  | 19,798 |  | 15,944
Total current liabilities |  | 24,149 |  | 20,114
​ | ​ | ​ | ​ | ​
Non-current liabilities: |  |  |  |
Other non-current liabilities |  | 4,452 |  | 3,952
Total non-current liabilities |  | 4,452 |  | 3,952
TOTAL LIABILITIES |  | 28,601 |  | 24,066
​ | ​ | ​ | ​ | ​
SHAREHOLDERS’ EQUITY: |  |  |  |
Class A ordinary shares (US$0.0001 par value, 1,268,785,000 shares authorized, 798,962,260 shares issued and 782,801,250 shares outstanding as of December 31, 2021; 1,268,785,000 shares authorized, 818,962,260 shares issued and 803,607,050 shares outstanding as of December 31, 2022). |  | 530 |  | 543
Class B ordinary shares (US$0.0001 par value, 231,215,000 shares authorized, issued and outstanding as of December 31, 2021 and 2022, respectively). |  | 168 |  | 168
Treasury stock |  | (11) |  | (10)
Other shareholders’ equity |  | 254,168 |  | 391,976
TOTAL LIZHI Inc.’s SHAREHOLDERS’ EQUITY |  | 254,855 |  | 392,677
TOTAL LIABILITIES AND LIZHI Inc.’s SHAREHOLDERS’ EQUITY |  | 283,456 |  | 416,743
​ ADDITIONAL INFORMATION: CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY (CONTINUED) ​
​ | ​ | ​ | ​ | ​ | ​ | ​
CONDENSED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME FOR THE YEARS ENDED DECEMBER 31, 2020, 2021 AND 2022 |  |  |  |  |  |
​ | ​ | For the year ended December 31,
​ | ​ | 2020 | ​ | 2021 | ​ | 2022
​ | ​ | RMB | ​ | RMB | ​ | RMB
​ | ​ | ​ | ​ | ​ | ​ | ​
Operating expenses: |  |  |  |  |  |
Selling and marketing expenses |  | (1,554) |  | (1,452) |  | (1,514)
General and administrative expenses |  | (14,321) |  | (17,558) |  | (14,452)
Total operating expenses |  | (15,875) |  | (19,010) |  | (15,966)
​ | ​ | ​ | ​ | ​ | ​ | ​
Other expenses: |  |  |  |  |  |
(Loss)/income from subsidiaries |  | (67,158) |  | (109,046) |  | 100,300
Others, net |  | 849 |  | 806 |  | 2,183
Net (loss)/income |  | (82,184) |  | (127,250) |  | 86,517
​ | ​ | ​ | ​ | ​ | ​ | ​
Accretions to preferred shares redemption value |  | (154,066) |  | — |  | —
Net (loss)/income attributable to the Lizhi Inc.’s ordinary shareholders |  | (236,250) |  | (127,250) |  | 86,517
Net (loss)/income |  | (82,184) |  | (127,250) |  | 86,517
Other comprehensive (loss)/income: |  |  |  |  |  |
Foreign currency translation adjustments |  | (6,338) |  | (7,848) |  | 24,314
Total other comprehensive (loss)/income |  | (6,338) |  | (7,848) |  | 24,314
Total comprehensive (loss)/income |  | (88,522) |  | (135,098) |  | 110,831
Accretions to preferred shares redemption value |  | (154,066) |  | — |  | —
Total comprehensive (loss)/income to ordinary shareholders |  | (242,588) |  | (135,098) |  | 110,831
​ ADDITIONAL INFORMATION: CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY (CONTINUED) ​
​ | ​ | ​ | ​ | ​ | ​ | ​
CONDENSED STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED DECEMBER 31, 2020, 2021 AND 2022 |  |  |  |  |  |
​ | ​ | For the year ended December 31,
​ | ​ | 2020 | ​ | 2021 | ​ | 2022
​ | ​ | RMB | ​ | RMB | ​ | RMB
​ | ​ | ​ | ​ | ​ | ​ | ​
Net cash used in operating activities |  |  |  |  |  |
​ |  | (7,745) |  | (15,728) |  | (11,752)
Net cash used in investing activities | ​ | ​ | ​ | ​ | ​ | ​
Cash paid for investments in subsidiaries | ​ | (120,281) |  | (83,661) | ​ | (50,204)
Other investing activities | ​ | — |  | — |  | (91,022)
Cash repayment from Group companies |  | — |  | — |  | 3,677
Net cash used in investing activities |  | (120,281) |  | (83,661) |  | (137,549)
​ |  | ​ | ​ | ​ | ​ | ​
Net cash generated from financing activities | ​ | ​ | ​ | ​ | ​ | ​
Proceeds from issuance of ordinary shares, net | ​ | 259,043 |  | 183,188 |  | —
Cash transferred from subsidiaries to parent company for reorganization | ​ | 16,683 | ​ | — | ​ | —
Proceeds from exercise of vested share options |  | 2 |  | 3 |  | 5
Net cash generated from financing activities |  | 275,728 |  | 183,191 |  | 5
​ |  | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
Effect of exchange rate changes on cash and cash equivalents | ​ | (4,871) | ​ | (4,291) | ​ | 18,190
​ | ​ | ​ | ​ | ​ | ​ | ​
Net increase/(decrease) in cash and cash equivalents | ​ | 142,831 |  | 79,511 |  | (131,106)
Cash and cash equivalents at beginning of the year |  | 2,437 |  | 145,268 |  | 224,779
Cash and cash equivalents at end of the year |  | 145,268 |  | 224,779 |  | 93,673
​

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -URI https://asc.fasb.org/extlink&oid=126898705&loc=d3e5864-122674 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI https://asc.fasb.org/extlink&oid=126929396&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 + Details
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