Ximalaya, a Tencent-backed podcasting and audio book platform, made a profit for the first time in its 10 year existence during the fourth quarter of 2022, founder and CEO Yu Jianjun said at the company’s year-end meeting. Yu pointed to Ximalaya’s improved strategy and organizational clarity, as well as its ongoing cost-cutting measures, in helping the company to make tens of millions of yuan in profit. The Shanghai-based podcasting startup had filed three prospectuses in the past two years in the hope of listing on the Nasdaq or Hong Kong stock exchanges, but its attempts failed amid a government crackdown on Chinese companies pursuing IPOs outside of mainland China. According to Ximalaya’s latest prospectuses filed last March, the firm reached a total revenue of RMB 5.86 billion in 2021 while its annual net loss expanded 40.8% year-over-year to RMB 759 million. Paid subscriptions, advertising, and livestreaming make up its major revenue sources. [Yicai, in Chinese]