| Schedule Of Major Subsidiaries Consolidated Vies And Vies Subsidiaries |
As
of December 31, 2025, the Company’s consolidated subsidiaries, the VIEs and subsidiaries of the VIEs are as follows:
Schedule Of Major Subsidiaries Consolidated Vies And Vies Subsidiaries
| Major
Subsidiaries |
|
Place
and
year
of
incorporation/
acquisition |
|
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 |
| VOCAL
BEATS Inc. (“Vocal Beats”) |
|
British
Virgin Islands, Y2019 |
|
68.5 |
|
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 |
|
Subscription
and others |
| NASHOR
PTE. LTD. |
|
Singapore,
Y2019 |
|
68.5 |
|
Subscription
and others |
| TOPMUSE
PTE. LTD. |
|
Singapore,
Y2022 |
|
68.5 |
|
Subscription
and others |
| VOCALBEATS.AI
PTE. LTD. |
|
Singapore,
Y2022 |
|
68.5 |
|
Subscription
and others |
| VOPI
PTE. LTD. |
|
Singapore,
Y2021 |
|
68.5 |
|
Subscription
and others |
| Vocalbeats
CO., LTD. (Formerly known as TIYA CO., LTD.) |
|
Japan,
Y2022 |
|
68.5 |
|
Subscription
and others |
| SONICO
SDN. BHD. |
|
Malaysia,
Y2022 |
|
68.5 |
|
Technical
support and consulting services |
Guangzhou
Tiya Information Technology Co., Ltd.
(“Guangzhou
Tiya”) |
|
Guangzhou,
China, Y2019 |
|
100 |
|
Technical
support and consulting services |
| Tiya
Inc. (“Tiya USA”) |
|
USA,
Y2020 |
|
100 |
|
Subscription
and others |
Guangzhou
QingYin Information Technology Co., Ltd.
(“Guangzhou
QingYin”) |
|
Guangzhou,
China, Y2022 |
|
100 |
|
Technical
support and consulting services |
| Guangzhou
Yuyin Information Technology Co., Ltd. |
|
Guangzhou,
China, Y2022 |
|
68.5 |
|
Technical
support and consulting services |
| Guangzhou
Yuechuang Information Technology Co., Ltd. |
|
Guangzhou,
China, Y2022 |
|
100 |
|
Technical
support and consulting services |
| 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 |
|
Value-added
service and subscription business |
Guangzhou
Huanliao Network Technology Co., Ltd.
(“Guangzhou
Huanliao”) |
|
Guangzhou,
China Y2016 |
|
100 |
|
Value-added
service and subscription business |
| Major
subsidiaries of VIEs |
|
Place
and
year
of
incorporation/
acquisition |
|
Percentage
of
direct
or indirect economic ownership
% |
|
Principal
activities |
| Wuhan
Lizhi Network Technology Co., Ltd. |
|
Wuhan,
China Y2017 |
|
100 |
|
Value-added
service and subscription business |
| Wuhan
Yuyinliaorao Network Technology Co., Ltd. |
|
Wuhan,
China Y2019 |
|
100 |
|
Value-added
service and subscription business |
| Guangzhou
Qianyue Media Co., Ltd. |
|
Guangzhou,
China Y2023 |
|
100 |
|
Value-added
service and subscription business |
| Beijing
Guoyin Network Technology Co., Ltd. |
|
Beijing,
China Y2020 |
|
100 |
|
Technical
support and consulting services |
| Guangzhou
Baihui Network Technology Co., Ltd. |
|
Guangzhou,
China Y2024 |
|
100 |
|
Technical
support and consulting services |
| Guangdong
Shengjie Intelligent Technology Co., Ltd |
|
Guangzhou,
China Y2025 |
|
100 |
|
Technical
support and consulting services |
|
| Schedule Of Variable Interest Entities |
The
following combined financial information of the VIEs as of December 31, 2024 and 2025 and for the years ended December 31, 2023, 2024
and 2025 was included in the accompanying consolidated financial statements of the Group as follows:
Schedule
Of Variable Interest Entities
| | |
As of December
31, | | |
As of December
31, | |
| | |
2024 | | |
2025 | |
| | |
| RMB | | |
| RMB | |
| ASSETS | |
| | | |
| | |
| Current assets: | |
| | | |
| | |
| Cash and
cash equivalents | |
| 187,693 | | |
| 280,856 | |
| Restricted cash | |
| 1,733 | | |
| 2,151 | |
| Accounts receivable,
net | |
| 482 | | |
| 432 | |
| Prepayments and other
current assets | |
| 18,006 | | |
| 29,135 | |
| Amount due from the
subsidiaries of the Group | |
| 67,916 | | |
| 209,221 | |
| Total
current assets | |
| 275,830 | | |
| 521,795 | |
| Non-current assets: | |
| | | |
| | |
| Property, equipment
and leasehold improvement, net | |
| 6,996 | | |
| 6,335 | |
| Intangible assets, net | |
| 1,049 | | |
| 528 | |
| Right-of-use assets,
net | |
| 623 | | |
| 9,074 | |
| Total
non-current assets | |
| 8,668 | | |
| 15,937 | |
| TOTAL ASSETS | |
| 284,498 | | |
| 537,732 | |
| Current liabilities: | |
| | | |
| | |
| Accounts payable | |
| 38,185 | | |
| 57,749 | |
| Deferred revenue | |
| 29,318 | | |
| 35,705 | |
| Salary and welfare payable | |
| 104,247 | | |
| 143,105 | |
| Taxes payable | |
| 5,002 | | |
| 6,097 | |
| Lease liabilities due
within one year | |
| 235 | | |
| 4,661 | |
| Accrued expenses and
other current liabilities | |
| 70,722 | | |
| 63,853 | |
| Amount due to the subsidiaries
of the Group | |
| 463,809 | | |
| 388,068 | |
| Total
current liabilities | |
| 711,518 | | |
| 699,238 | |
| Non-current liabilities: | |
| | | |
| | |
| Lease liabilities | |
| 385 | | |
| 4,514 | |
| Total
non-current liabilities | |
| 385 | | |
| 4,514 | |
| TOTAL LIABILITIES | |
| 711,903 | | |
| 703,752 | |
| | |
RMB | | |
RMB | | |
RMB | |
| | |
For
the year ended | |
| | |
December 31, | | |
December 31, | | |
December 31, | |
| | |
2023 | | |
2024 | | |
2025 | |
| | |
RMB | | |
RMB | | |
RMB | |
| Net revenues | |
| 2,069,491 | | |
| 2,026,664 | | |
| 3,063,542 | |
| Net (loss)/income | |
| (23,554 | ) | |
| (56,416 | ) | |
| 261,385 | |
| | |
2023 | | |
2024 | | |
2025 | |
| | |
For
the year ended | |
| | |
December 31, | | |
December 31, | | |
December 31, | |
| | |
2023 | | |
2024 | | |
2025 | |
| | |
RMB | | |
RMB | | |
RMB | |
| Net cash
(used in)/generated from operating activities | |
| (25,170 | ) | |
| (15,009 | ) | |
| 299,237 | |
| Net cash used in investing
activities | |
| (2,181 | ) | |
| (699 | ) | |
| (1,968 | ) |
| Net cash (used in)/generated
from financing activities | |
| (106,058 | ) | |
| 36,440 | | |
| (210,567 | ) |
| Net (decrease)/increase
in cash, cash equivalents and restricted cash | |
| (133,409 | ) | |
| 20,732 | | |
| 86,702 | |
|