Group 1 - The core viewpoint of the news highlights Tuya Smart's significant financial growth, with a 21.12% year-over-year increase in total revenue and a remarkable 410.95% increase in net profit attributable to shareholders as of March 31, 2025 [1][2]. - As of August 7, Tuya Smart's stock price rose by 5.04%, reaching $2.50 per share, with a total market capitalization of $1.524 billion [1]. - Tuya Smart is recognized as a leading global cloud platform service provider, focusing on building a developer ecosystem for smart solutions, offering a comprehensive range of products and services including PaaS and SaaS [2]. Group 2 - The company is set to disclose its fiscal year 2025 mid-term report on August 25, with the actual disclosure date subject to company announcements [2]. - Tuya Smart has developed a proprietary cloud developer platform that integrates cloud computing and generative artificial intelligence capabilities, fostering a vibrant global developer community [2].

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 塗鴉智能（於開曼群島註冊成立以不同投票權控制的有限公司） 呈交日期: 2025年8月6日 I. 法定/註冊股本變動 | 1. 股份分類 | 不同投票權架構公司普通股 | 股份類別 | A | | 於香港聯交所上市 (註1) | | 是 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02391 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 800,000,000 | USD | | 0.00005 | USD | | 40,000 | | 增加 / 減少 (-) | | | | | | | USD | | | | 本月底結存 | | | 800,000,000 | USD | | 0.00005 | US ...

8月5日，涂鸦智能(TUYA)开盘上涨2.55%，截至21:30，报2.41美元/股，成交10.34万美元，总市值14.69 亿美元。 资料显示，涂鸦智能(纽交所代码:TUYA;港交所代码:2391)是全球领先的云平台服务提供商,致力于构建 智慧解决方案的开发者生态,赋能万物智能。涂鸦智能开创了一个专有的云开发者平台,具备云计算及生 成式人工智能的能力,为智能设备、商业应用和行业开发者提供包括平台即服务(PaaS)、软件即服务 (SaaS)和智慧解决方案在内的完整产品及服务。通过其云开发者平台,涂鸦智能激发了一个由品牌、原始 设备制造商、AIAgents、系统集成商和独立软件供应商组成的充满活力的全球开发者社区,共同打造绿 色低碳、安全、高效、敏捷和开放的智慧解决方案生态。 本文源自：金融界 作者：行情君 财务数据显示，截至2025年03月31日，涂鸦智能收入总额7468.7万美元，同比增长21.12%；归母净利润 1101.7万美元，同比增长410.95%。 大事提醒： 8月25日，涂鸦智能将披露2025财年中报（数据来源于纳斯达克官网，预计披露日期为美国当地时间， 实际披露日期以公司公告为准）。 ...

Group 1 - The core viewpoint of the news highlights Tuya Smart's recent stock performance, with a 2.4% increase, reaching $2.345 per share and a total market capitalization of $1.429 billion as of August 4 [1] - Financial data shows that as of March 31, 2025, Tuya Smart's total revenue reached $74.687 million, representing a year-on-year growth of 21.12%, while the net profit attributable to shareholders was $11.017 million, reflecting a significant increase of 410.95% [1] Group 2 - Important event reminder: Tuya Smart is set to disclose its mid-year report for the fiscal year 2025 on August 25, with the actual disclosure date subject to company announcement [2] - Tuya Smart is recognized as a leading global cloud platform service provider, focused on building a developer ecosystem for smart solutions, and has created a proprietary cloud developer platform that integrates cloud computing and generative artificial intelligence capabilities [2] - The company offers a comprehensive range of products and services, including Platform as a Service (PaaS), Software as a Service (SaaS), and smart solutions, fostering a vibrant global developer community composed of brands, original equipment manufacturers, AI agents, system integrators, and independent software vendors [2]

智通财经APP讯，涂鸦智能-W(02391)发布公告，于2025年7月30日，员工(董事除外)根据2015年股权激 励计划行使期权或受限制股份单位发行2.5万股。 （原标题：涂鸦智能-W(02391)根据2015年股权激励计划发行2.5万股） ...

涂鸦智能-W(02391)发布公告，于2025年7月30日，员工(董事除外)根据2015年股权激励计划行使期权或 受限制股份单位发行2.5万股。 ...

FF305 第 1 頁 共 6 頁 v 1.3.0 FF305 B. 贖回/購回股份 (擬註銷但截至期終結存日期尚未註銷) (註5及6) 備註： 已發行股份佔有關股份發行前的現有已發行股份數目百分比是依據本公司已發行股份數目總額609,516,926股 (包括539,353,673股A類普通股及70,163,253股B類普通股)計 算。 第 2 頁 共 6 頁 v 1.3.0 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 塗鴉智能 呈交日期： 2025年7月30日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 不同投票權架構公司普通股 | | 股 ...

Investment Rating - The report maintains an "Outperform" rating for the company [4][12]. Core Insights - The company is projected to achieve revenues of $325 million, $361 million, and $410 million for 2025, 2026, and 2027 respectively, reflecting year-over-year growth rates of 8.81%, 11.12%, and 13.45% [5][12]. - The first quarter of 2025 showed strong performance with revenues of $74.70 million, a 21.1% increase year-over-year, driven by growth in IoT PaaS, SaaS, and Smart Solutions [5][12]. - The company has embraced AI, launching four core engines that enhance its platform capabilities, which are expected to support large-scale AI product deployment [5][12]. Financial Summary - Revenue projections for the company are as follows: 2025E at $325 million, 2026E at $361 million, and 2027E at $410 million, with corresponding growth rates of 8.8%, 11.1%, and 13.5% [3][5]. - The gross profit margin for Q1 2025 was reported at 48.5%, an increase of 0.7 percentage points year-over-year, with a net profit of $11 million compared to a loss of $3.5 million in Q1 2024 [5][12]. - The company has a cash and cash equivalents balance of $1.02 billion as of Q1 2025 [5][12]. Customer and Market Dynamics - As of Q1 2025, the company has a total of 2,800 customers, with 2,000 on the IoT PaaS platform, and premium users contributing 88.7% of IoT PaaS revenue [5][12]. - The company's developer platform has reached 1.417 million developers, indicating strong customer stickiness and potential for global IoT standard expansion [5][12].

Financial Performance - Tuya Smart's total revenue for Q1 2025 was $74.7 million, representing a 21% year-over-year increase[7] - The company achieved a gross margin of 48% in Q1 2025[7] - Non-GAAP net profits for Q1 2025 reached $19.3 million, a 57% increase year-over-year, resulting in a 26% non-GAAP net margin[7] - GAAP net profits for Q1 2025 were $11 million, yielding a 15% GAAP net margin[7] - The company's net cash balance as of March 31, 2025, was $1024 million[7] Business Highlights - Tuya Smart has expanded its global reach to over 200 countries and regions[11] - The company serves over 5,800 global customers as of 2024[11] - Tuya's platform supports over 3,000 categories of smart devices[11] - The platform has over 1.4 million global developers as of March 31, 2025, who have created over 1.1 million smart device SKUs[12]

Financial Data and Key Metrics Changes - In Q1 2025, the company achieved approximately $74.7 million in revenue, representing a year-over-year growth of about 21.1% [5] - The net profit reached over $11 million, more than double that of last year's full year, with a non-GAAP net profit margin of 25.8% [9][18] - The blended gross margin stood at about 48.5%, with all three revenue lines maintaining steady margins [7] Business Line Data and Key Metrics Changes - Revenue from home appliances grew significantly, leading the performance across major categories, followed by security sensing and electrical and lighting products [6] - SaaS and other services generated about $10 million in revenue, growing approximately 15.5% year over year [6] - Smart solution revenue reached approximately $11 million, with a year-over-year increase of about 47.1% [6] Market Data and Key Metrics Changes - Europe accounted for about one-third of total revenue, followed by Asia Pacific (excluding China), China, and Latin America, each contributing around 15% [7] - The company maintains a diversified revenue structure across various regions, with emerging markets contributing to growth [7] Company Strategy and Development Direction - The company is focusing on AI integration into its product offerings, emphasizing the development of AI capabilities from cloud to device [3][12] - Strategic partnerships and collaborations are being pursued to enhance AI hardware and software solutions, particularly in energy management and smart home applications [16][17] - The company aims to maintain efficient organizational execution and safeguard R&D amid external uncertainties [4] Management's Comments on Operating Environment and Future Outlook - The management noted that the macro environment has been volatile, influenced by AI advancements and geopolitical trade fluctuations [2][3] - Despite uncertainties, the company is committed to a long-term approach focused on technology-driven developments [18] - The management expressed optimism about the future, highlighting the potential for AI to drive growth in various sectors [18] Other Important Information - The company received an upgrade in its ESG rating from MSCI, reflecting improvements in compliance and sustainability practices [18] - The first Global Developer Conference in 2025 attracted over 2,700 attendees, showcasing the company's commitment to fostering a developer ecosystem [4] Q&A Session Summary Question: Insights on AIoT hardware performance and customer behavior amid tariff volatility - Management highlighted strong interest in audio and video interaction devices and AI-driven energy management systems as key areas of growth [21][26] - Customers have become more conservative in their purchasing decisions due to tariff uncertainties, leading to a cautious approach in the market [26][29] Question: Monetization of AI opportunities and outlook on revenue and profitability - The company plans to integrate AI capabilities into existing business models, offering seamless transitions for customers [35] - Short-term demand fluctuations are expected due to tariff impacts, but long-term growth is anticipated once negotiations stabilize [39][41] Question: Progress on cooperation with Singapore and Chile - The partnership with Singapore's Home Development Bureau focuses on centralized energy management solutions for public housing [49][50] - The company aims to replicate successful models in other Southeast Asian markets [52] Question: Internal use of AI to improve efficiency and margins - Various departments are utilizing AI tools to enhance operational efficiency, including marketing, HR, and development processes [62][65] - The company believes that internal AI applications will lower operational costs and increase income potential [65]