Lizhi Inc ADR (LIZI)

Lizhi Inc ADR Stock (LIZI) dropped by 26.13% from $3.8985 to $2.88 in the trading on Thursday November 30, 2023. The reason why LIZI stock down today is due to its third-quarter results.

• Net revenues were RMB425.1 million (US$58.3 million) in the third quarter of 2023, compared with RMB565.2 million in the third quarter of 2022, primarily due to the decline in average paying users and user spending on our audio entertainment products.
• Gross profit was RMB107.8 million (US$14.8 million) in the third quarter of 2023, compared with RMB189.1 million in the third quarter of 2022.
• Net loss was RMB62.0 million (US$8.5 million) in the third quarter of 2023, compared to net income of RMB19.8 million in the third quarter of 2022.