智通财经APP讯，涂鸦智能-W(02391)发布截至2025年6月30日止6个月业绩，该集团期内取得总收入 1.55亿美元，同比增加14.7%;净利润2360.4万美元，同比扭亏为盈;归属于普通股股东每股净利润0.04美 元;拟派发现金股息每股普通股0.054美元或每股美国存托股份0.054美元。 截至2025年6月30日止6个月，PaaS客户约有2700个(截至2024年6月30日止6个月：约有2700个)。截至 2025年6月30日止6个月的客户总数约为4100个(截至2024年6月30日止6个月：约为4100个 )。 截至2025年6月30日止连续12个月，优质PaaS客户有285个(截至2024年6月30日止连续12个月：280个)。 截至2025年6月30日止6个月，集团的优质PaaS客户贡献了约88.8%(截至2024年6月30日止6个月：约 85.1%)的 PaaS收入。 截至2025年6月30日止3个月，总收入8010万美元，同比增加9.3%;净利润1260万美元，同比增加302.4%; 归属于普通股股东每股净利润0.02美元。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部分內容所產生或因依 賴該等內容而引致的任何損失承擔任何責任。 Tuya Inc. 塗鴉智能* （於開曼群島註冊成立以不同投票權控制的有限責任公司） （香港聯交所股份代號：2391） （紐約證券交易所股票代碼：TUYA） 截至2025年6月30日止六個月中期業績公告 全球領先雲平台服務提供商Tuya Inc.（「Tuya」或「本公司」，聯交所代號：2391及 紐交所代號：TUYA）今日公佈本公司、其附屬公司及合併聯屬實體（「本集團」） 截至2025年6月30日止六個月（「報告期」）的未經審計財務業績連同截至2024年6 月30日止六個月之比較數字。 截至2025年6月30日止六個月的財務摘要 * 僅供識別 1 • 總收入為154.8百萬美元，同比增長約14.7%（截至2024年6月30日止六個 月：134.9百萬美元）。 • 平台即服務（「PaaS」）收入為111.9百萬美元，同比增長約12.0%（截至2024 年6月30日止六個月：99.9百萬美元）。 • 軟件即 ...

[Company Announcements and Legal Disclaimers](index=1&type=section&id=公司公告及法律聲明) This section provides legal disclaimers, forward-looking statements, and essential company information including its board composition [Legal Disclaimers and Forward-Looking Statements](index=1&type=section&id=法律聲明與前瞻性陳述) This section outlines disclaimers from HKEX and SEHK, and clarifies forward-looking statements under the U.S. Private Securities Litigation Reform Act of 1995 - The announcement contains forward-looking statements protected by the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, cautioning investors about inherent risks and uncertainties, and advising against over-reliance on Q2 results[4](index=4&type=chunk) [Company Information and Board Composition](index=1&type=section&id=公司基本信息與董事會構成) Tuya Inc., a Cayman Islands-registered limited liability company, is listed on HKEX (2391) and NYSE (TUYA), with a board composed of executive and independent non-executive directors - Tuya Inc. (Tuya Smart) is listed on the Hong Kong Stock Exchange (**2391**) and the New York Stock Exchange (**TUYA**), with a board comprising four executive directors and four independent non-executive directors[2](index=2&type=chunk)[3](index=3&type=chunk)[5](index=5&type=chunk) [Q2 2025 Performance Overview](index=3&type=section&id=2025年第二季度業績概覽) This section provides an overview of Tuya Inc.'s Q2 2025 financial and operational performance, highlighting key growth metrics and profitability improvements [Financial Highlights](index=3&type=section&id=財務摘要) Q2 2025 saw Tuya Inc.'s total revenue grow 9.3% to $80.1 million, with gross margin at 48.4%, operating profit of $1.1 million, and net profit of $12.6 million Q2 2025 Key Financial Metrics | Metric | Q2 2025 (million USD) | Q2 2024 (million USD) | YoY Growth/Improvement | | :--- | :--- | :--- | :--- | | Total Revenue | 80.1 | 73.3 | +9.3% | | PaaS Revenue | 58.1 | 54.3 | +7.0% | | SaaS and Other Revenue | 11.1 | 9.6 | +15.6% | | Smart Solutions Revenue | 10.9 | 9.4 | +16.7% | | Overall Gross Margin | 48.4% | 48.0% | +0.4 percentage points | | Operating Profit Margin | 1.4% | -14.1% | +15.5 percentage points | | Non-GAAP Operating Profit Margin | 10.7% | 10.0% | +0.7 percentage points | | Net Profit Margin | 15.7% | 4.3% | +11.4 percentage points | | Non-GAAP Net Profit Margin | 25.1% | 28.4% | -3.3 percentage points | | Net Profit | 12.6 | 3.1 | +302.4% | | Non-GAAP Net Profit | 20.1 | 20.8 | -3.4% | | Net Cash from Operating Activities | 18.2 | 11.8 | +53.8% | [Operational Highlights](index=4&type=section&id=經營摘要) Tuya achieved robust H1 2025 profitability and growth despite global uncertainties, with non-GAAP operating profit up 127% and AI developers exceeding 1.514 million - The company's H1 revenue grew approximately **15%** year-over-year, with non-GAAP operating profit increasing by approximately **127%** year-over-year, demonstrating business model resilience and effective operating leverage[12](index=12&type=chunk) - In Q2 2025, the total number of PaaS customers was approximately **2,100**, and total customers were approximately **3,000**, consistent with the prior year period[13](index=13&type=chunk) - As of June 30, 2025, the number of premium PaaS customers increased to **285** (from 280 in Q2 2024), contributing approximately **88.6%** of PaaS revenue (up from 84.8% in Q2 2024)[13](index=13&type=chunk) - As of June 30, 2025, registered AI developers exceeded **1,514,000**, a **15%** increase from December 31, 2024[13](index=13&type=chunk) [Detailed Financial Analysis for Q2 2025](index=5&type=section&id=2025年第二季度詳細財務分析) This section offers a detailed financial analysis of Tuya Inc.'s Q2 2025 performance, covering revenue, costs, gross profit, operating expenses, and net income [Revenue and Cost of Revenue](index=5&type=section&id=收入與營業成本) Q2 2025 total revenue grew 9.3% to $80.1 million, driven by PaaS, SaaS, and smart solutions, with cost of revenue increasing 8.7% to $41.4 million Q2 2025 Revenue and Cost of Revenue | Metric | Q2 2025 (million USD) | Q2 2024 (million USD) | YoY Change | | :--- | :--- | :--- | :--- | | Total Revenue | 80.1 | 73.3 | +9.3% | | Cost of Revenue | 41.4 | 38.1 | +8.7% | [Gross Profit and Gross Margins by Business Segment](index=5&type=section&id=毛利與各業務板塊毛利率) Q2 2025 total gross profit increased 10.1% to $38.7 million, with overall gross margin at 48.4%, and varied performance across business segments Q2 2025 Gross Profit and Gross Margins | Metric | Q2 2025 (million USD/%) | Q2 2024 (million USD/%) | YoY Change | | :--- | :--- | :--- | :--- | | Total Gross Profit | 38.7 | 35.2 | +10.1% | | Overall Gross Margin | 48.4% | 48.0% | +0.4 percentage points | | PaaS Gross Margin | 48.7% | 47.6% | +1.1 percentage points | | SaaS and Other Gross Margin | 72.0% | 71.0% | +1.0 percentage points | | Smart Solutions Gross Margin | 22.5% | 26.8% | -4.3 percentage points | - PaaS revenue grew **7.0%** to **$58.1 million**, driven by increased demand and strategic focus on customer needs and product enhancements; despite tariff-related headwinds, PaaS DBNER slowed from **127%** to **114%**[18](index=18&type=chunk) - SaaS and other revenue increased **15.6%** to **$11.1 million**, primarily due to increased cloud software product revenue[18](index=18&type=chunk) - Smart solutions revenue grew **16.7%** to **$10.9 million**, primarily driven by increased customer demand for smart devices with integrated intelligent software functionalities beyond IoT[18](index=18&type=chunk) [Operating Expense Analysis](index=6&type=section&id=營業費用分析) Q2 2025 operating expenses decreased **17.3%** to **$37.7 million**, driven by reduced share-based compensation and professional service costs across all categories Q2 2025 Operating Expenses | Metric | Q2 2025 (million USD) | Q2 2024 (million USD) | YoY Change | | :--- | :--- | :--- | :--- | | Total Operating Expenses | 37.7 | 45.5 | -17.3% | | Research and Development Expenses | 22.4 | 23.0 | -2.7% | | Sales and Marketing Expenses | 7.8 | 9.4 | -16.6% | | General and Administrative Expenses | 9.4 | 16.9 | -44.3% | - R&D expenses decreased primarily due to lower share-based compensation expenses, partially offset by increased cloud service costs and employee-related costs[22](index=22&type=chunk) - Sales and marketing expenses decreased primarily due to lower employee-related costs and share-based compensation expenses[22](index=22&type=chunk) - General and administrative expenses significantly decreased primarily due to lower share-based compensation expenses and reduced professional service costs[22](index=22&type=chunk) [Operating Profit and Net Profit](index=6&type=section&id=營業利潤與淨利潤) Q2 2025 saw a significant turnaround to **$1.1 million** operating profit, with net profit surging **302.4%** to **$12.6 million** and non-GAAP net profit at **$20.1 million** Q2 2025 Operating Profit and Net Profit | Metric | Q2 2025 (million USD/%) | Q2 2024 (million USD/%) | YoY Change | | :--- | :--- | :--- | :--- | | Operating Profit | 1.1 | -10.3 | Turned profitable | | Operating Profit Margin | 1.4% | -14.1% | +15.5 percentage points | | Non-GAAP Operating Profit | 8.6 | 7.4 | +16.2% | | Non-GAAP Operating Profit Margin | 10.7% | 10.0% | +0.7 percentage points | | Net Profit | 12.6 | 3.1 | +302.4% | | Net Profit Margin | 15.7% | 4.3% | +11.4 percentage points | | Non-GAAP Net Profit | 20.1 | 20.8 | -3.4% | | Non-GAAP Net Profit Margin | 25.1% | 28.4% | -3.3 percentage points | [Net Income Per American Depositary Share](index=7&type=section&id=每股美國存託股份淨利潤) Q2 2025 basic and diluted net income per ADS increased to **$0.02**, with non-GAAP basic and diluted net income per ADS at **$0.03** Q2 2025 Net Income Per American Depositary Share | Metric | Q2 2025 (USD) | Q2 2024 (USD) | YoY Change | | :--- | :--- | :--- | :--- | | Basic Net Income Per ADS | 0.02 | 0.01 | +0.01 | | Diluted Net Income Per ADS | 0.02 | 0.01 | +0.01 | | Non-GAAP Basic Net Income Per ADS | 0.03 | 0.04 | -0.01 | | Non-GAAP Diluted Net Income Per ADS | 0.03 | 0.04 | -0.01 | [Cash Flow and Cash Reserves](index=7&type=section&id=現金流與現金儲備) As of June 30, 2025, total cash reserves were **$1,006.3 million**, slightly down due to dividends, while net cash from operations grew **53.8%** to **$18.2 million** Cash and Cash Equivalents at End of Q2 2025 | Metric | As of June 30, 2025 (million USD) | As of December 31, 2024 (million USD) | | :--- | :--- | :--- | | Total Cash and Cash Equivalents, Time Deposits, and Treasury Bills | 1,006.3 | 1,016.7 | - Net cash from operating activities in Q2 2025 was **$18.2 million**, a **53.8%** year-over-year increase (from $11.8 million in Q2 2024), primarily due to working capital changes in the ordinary course of business[10](index=10&type=chunk)[26](index=26&type=chunk) [Business Outlook and Dividend Policy](index=7&type=section&id=業務展望與股息政策) This section outlines Tuya Inc.'s business outlook amidst global uncertainties and details the board's approved cash dividend declaration [Business Outlook](index=7&type=section&id=業務展望) Despite global trade and supply chain uncertainties, Tuya Inc. remains confident in its long-term business, focusing on enhancing AI capabilities, expanding its customer base, and optimizing efficiency - Uncertainties persist in the global trade environment and consumer electronics supply chain, yet the company observes active exploration and adoption of AI technologies and hardware by global enterprises and consumers[27](index=27&type=chunk) - The company remains confident in its long-term business prospects, committed to iterating and enhancing products and services, especially AI capabilities, expanding its core customer base, investing in innovation, diversifying revenue streams, and optimizing operational efficiency[27](index=27&type=chunk)[28](index=28&type=chunk) - Future development may face challenges including shifts in consumer spending patterns, regional economic disparities, inventory management, currency and interest rate fluctuations, new tariffs or trade barrier adjustments, and geopolitical uncertainties[28](index=28&type=chunk) [Cash Dividend Declaration](index=8&type=section&id=現金股息宣派) The Board approved a cash dividend of **$0.054** per ordinary share/ADS, totaling approximately **$33 million**, with record date September 11, 2025, and payment in October 2025 - The Board approved a cash dividend of **$0.054** per ordinary share or **$0.054** per American Depositary Share[29](index=29&type=chunk) - The total cash dividend is approximately **$33 million**, payable in USD cash from the company's remaining cash and share premium account[29](index=29&type=chunk) - The record date is the close of business on September 11, 2025, HKT/NYT; payment for ordinary shareholders is expected around October 13, 2025, and for ADS holders around October 20, 2025[29](index=29&type=chunk)[30](index=30&type=chunk) [Company Profile and Non-GAAP Measures Explanation](index=9&type=section&id=公司簡介與非GAAP指標說明) This section provides an overview of Tuya Inc., details its upcoming conference call, and explains the use and reconciliation of Non-GAAP financial measures [Conference Call and Investor Relations](index=9&type=section&id=電話會議與投資者關係) A conference call to discuss financial results is scheduled for August 26, 2025, ET, with online registration and investor relations contact information provided - The company will host a conference call to discuss financial results on Tuesday, August 26, 2025, at 8:30 PM Eastern Time[31](index=31&type=chunk) - A live webcast or replay of the conference call will be available on the company's investor relations website at https://ir.tuya.com[32](index=32&type=chunk) - Investor relations contacts include Tuya Inc. Investor Relations at ir@tuya.com and Haiyan LI-LABBE of HL Strategy at hl@hl-strategy.com[37](index=37&type=chunk) [About Tuya Inc.](index=9&type=section&id=Tuya%20Inc.%20公司簡介) Tuya Inc. is a leading global AI cloud platform provider, building an AI developer ecosystem and enabling smart everything through PaaS, SaaS, and smart solutions - Tuya Inc. is a leading global AI cloud platform service provider, with a mission to build an AI developer ecosystem and empower smart everything[33](index=33&type=chunk) - The company pioneered a dedicated AI cloud platform with cloud computing and generative AI capabilities, offering PaaS, SaaS, and smart solutions for smart devices, commercial applications, and industry developers[33](index=33&type=chunk) [Explanation of Non-GAAP Financial Measures](index=9&type=section&id=非公認會計準則財務指標說明) Non-GAAP financial measures, excluding share-based compensation and long-term investment impairment, are used to assess performance and plan business, reconciled to GAAP - The company uses Non-GAAP financial measures (such as Non-GAAP operating expenses, operating profit, net profit, and net profit per share) as supplementary indicators to evaluate operating performance and formulate business plans[34](index=34&type=chunk) - Non-GAAP financial measures exclude the impact of share-based compensation expenses and credit-related impairment of long-term investments on the respective GAAP financial measures[34](index=34&type=chunk) - Non-GAAP financial measures have limitations, may differ from non-GAAP data used by other companies, thus have limited comparability, and should be reconciled to the most directly comparable U.S. GAAP measures[35](index=35&type=chunk) [Safe Harbor Statement](index=10&type=section&id=安全港聲明) This press release contains forward-looking statements protected by the 1995 U.S. Private Securities Litigation Reform Act, involving inherent risks and uncertainties, with no obligation for public updates - The press release contains forward-looking statements protected by the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, involving inherent risks and uncertainties[36](index=36&type=chunk) - The company is under no obligation to publicly update any forward-looking statements to reflect subsequent events or circumstances, and all forward-looking statements should be evaluated based on their inherent uncertainties[36](index=36&type=chunk) [Unaudited Condensed Consolidated Financial Statements](index=11&type=section&id=未經審計簡明合併財務報表) This section presents Tuya Inc.'s unaudited condensed consolidated financial statements, including balance sheets, comprehensive income, and cash flow statements [Consolidated Balance Sheets](index=11&type=section&id=合併資產負債表) As of June 30, 2025, total assets were **$1,104.118 million**, total liabilities **$93.734 million**, and shareholders' equity **$1,010.384 million** Unaudited Condensed Consolidated Balance Sheets (as of June 30, 2025) | Metric | As of December 31, 2024 (thousand USD) | As of June 30, 2025 (thousand USD) | | :--- | :--- | :--- | | **ASSETS** | | | | Total Current Assets | 903,016 | 896,603 | | Total Non-Current Assets | 200,764 | 207,515 | | **TOTAL ASSETS** | **1,103,780** | **1,104,118** | | **LIABILITIES** | | | | Total Current Liabilities | 94,337 | 91,612 | | Total Non-Current Liabilities | 1,995 | 2,122 | | **TOTAL LIABILITIES** | **96,332** | **93,734** | | **SHAREHOLDERS' EQUITY** | | | | Total Shareholders' Equity | 1,007,448 | 1,010,384 | | **TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY** | **1,103,780** | **1,104,118** | [Consolidated Statements of Comprehensive Income](index=13&type=section&id=合併綜合收益表) For Q2 2025, total revenue was **$80.130 million**, gross profit **$38.746 million**, and net profit **$12.587 million**, with H1 net profit at **$23.604 million** Unaudited Condensed Consolidated Statements of Comprehensive Income (for the three months ended June 30, 2025) | Metric | Q2 2025 (thousand USD) | Q2 2024 (thousand USD) | | :--- | :--- | :--- | | Revenue | 80,130 | 73,279 | | Cost of Revenue | (41,384) | (38,087) | | Gross Profit | 38,746 | 35,192 | | Total Operating Expenses | (37,658) | (45,536) | | Operating Profit/(Loss) | 1,088 | (10,344) | | Profit Before Income Tax | 13,222 | 3,720 | | Income Tax Expense | (635) | (592) | | Net Profit | 12,587 | 3,128 | Unaudited Condensed Consolidated Statements of Comprehensive Income (for the six months ended June 30, 2025) | Metric | H1 2025 (thousand USD) | H1 2024 (thousand USD) | | :--- | :--- | :--- | | Revenue | 154,817 | 134,941 | | Cost of Revenue | (79,820) | (70,264) | | Gross Profit | 74,997 | 64,677 | | Total Operating Expenses | (75,361) | (91,388) | | Operating Profit/(Loss) | (364) | (26,711) | | Profit Before Income Tax | 24,976 | 833 | | Income Tax Expense | (1,372) | (1,248) | | Net Profit | 23,604 | (415) | Share-based Compensation Expenses (Included in Operating Expenses) | Expense Category | Q2 2025 (thousand USD) | Q2 2024 (thousand USD) | | :--- | :--- | :--- | | Research and Development Expenses | 1,460 | 3,376 | | Sales and Marketing Expenses | 582 | 1,169 | | General and Administrative Expenses | 5,437 | 10,864 | [Consolidated Statements of Cash Flows](index=15&type=section&id=合併現金流量表) For Q2 2025, net cash from operating activities was **$18.191 million**, with net cash used in investing and financing activities, and period-end cash reserves at **$724.071 million** Unaudited Condensed Consolidated Statements of Cash Flows (for the three months ended June 30, 2025) | Metric | Q2 2025 (thousand USD) | Q2 2024 (thousand USD) | | :--- | :--- | :--- | | Net Cash from Operating Activities | 18,191 | 11,829 | | Net Cash from/(used in) Investing Activities | (21,215) | 73,890 | | Net Cash (used in)/from Financing Activities | (36,914) | (104) | | Cash and Cash Equivalents and Restricted Cash at Period-End | 724,071 | 614,919 | Unaudited Condensed Consolidated Statements of Cash Flows (for the six months ended June 30, 2025) | Metric | H1 2025 (thousand USD) | H1 2024 (thousand USD) | | :--- | :--- | :--- | | Net Cash from Operating Activities | 27,543 | 26,319 | | Net Cash from/(used in) Investing Activities | 79,968 | 90,085 | | Net Cash (used in)/from Financing Activities | (36,912) | 150 | | Cash and Cash Equivalents and Restricted Cash at Period-End | 724,071 | 614,919 | [Reconciliation of Non-GAAP Measures](index=16&type=section&id=非公認會計準則指標對賬) This section provides detailed reconciliations of GAAP financial measures to their Non-GAAP counterparts, including operating expenses, operating profit, and net profit [Reconciliation of Operating Expenses to Non-GAAP Operating Expenses](index=16&type=section&id=營業費用與非公認會計準則營業費用對賬) Q2 2025 adjusted R&D, sales & marketing, and G&A expenses were **$20.913 million**, **$7.243 million**, and **$3.922 million** respectively, primarily adjusted for share-based compensation Reconciliation of Operating Expenses to Non-GAAP Operating Expenses (for the three months ended June 30, 2025) | Metric | Q2 2025 (thousand USD) | Q2 2024 (thousand USD) | | :--- | :--- | :--- | | Research and Development Expenses (GAAP) | (22,373) | (22,993) | | Add: Share-based Compensation Expenses | 1,460 | 3,376 | | Adjusted Research and Development Expenses (Non-GAAP) | (20,913) | (19,617) | | Sales and Marketing Expenses (GAAP) | (7,825) | (9,387) | | Add: Share-based Compensation Expenses | 582 | 1,169 | | Adjusted Sales and Marketing Expenses (Non-GAAP) | (7,243) | (8,218) | | General and Administrative Expenses (GAAP) | (9,386) | (16,861) | | Add: Share-based Compensation Expenses | 5,437 | 10,864 | | Add: Credit-related Impairment of Long-term Investments | 27 | 189 | | Add: Litigation Expenses | – | 2,100 | | Adjusted General and Administrative Expenses (Non-GAAP) | (3,922) | (3,708) | [Reconciliation of Operating Profit to Non-GAAP Operating Profit](index=16&type=section&id=營業利潤與非公認會計準則營業利潤對賬) Q2 2025 Non-GAAP operating profit was **$8.594 million**, with a **10.7%** margin, adjusted for share-based compensation, long-term investment impairment, and litigation expenses Reconciliation of Operating Profit to Non-GAAP Operating Profit (for the three months ended June 30, 2025) | Metric | Q2 2025 (thousand USD/%) | Q2 2024 (thousand USD/%) | | :--- | :--- | :--- | | Operating Profit (GAAP) | 1,088 | (10,344) | | Add: Share-based Compensation Expenses | 7,479 | 15,409 | | Add: Credit-related Impairment of Long-term Investments | 27 | 189 | | Add: Litigation Expenses | – | 2,100 | | Non-GAAP Operating Profit | 8,594 | 7,354 | | Non-GAAP Operating Profit Margin | 10.7% | 10.0% | [Reconciliation of Net Profit to Non-GAAP Net Profit](index=17&type=section&id=淨利潤與非公認會計準則淨利潤對賬) Q2 2025 Non-GAAP net profit was **$20.093 million**, with a **25.1%** margin, adjusted for share-based compensation, long-term investment impairment, and litigation expenses Reconciliation of Net Profit to Non-GAAP Net Profit (for the three months ended June 30, 2025) | Metric | Q2 2025 (thousand USD/%) | Q2 2024 (thousand USD/%) | | :--- | :--- | :--- | | Net Profit (GAAP) | 12,587 | 3,128 | | Add: Share-based Compensation Expenses | 7,479 | 15,409 | | Add: Credit-related Impairment of Long-term Investments | 27 | 189 | | Add: Litigation Expenses | – | 2,100 | | Non-GAAP Net Profit | 20,093 | 20,826 | | Non-GAAP Net Profit Margin | 25.1% | 28.4% | Non-GAAP Net Income Per Share (for the three months ended June 30, 2025) | Metric | Q2 2025 (USD) | Q2 2024 (USD) | | :--- | :--- | :--- | | Non-GAAP Basic Net Income Per Share | 0.03 | 0.04 | | Non-GAAP Diluted Net Income Per Share | 0.03 | 0.04 |

Market Overview - On August 25, US stock indices collectively declined, with the Dow Jones falling by 349.27 points to close at 45,282.47, a decrease of 0.77% [1] - The Nasdaq dropped by 47.24 points to 21,449.29, down 0.22%, while the S&P 500 fell by 27.59 points to 6,439.32, a decline of 0.43% [1] Technology Sector - Major tech stocks showed mixed performance; Tesla rose by 1.94%, Google increased by over 1%, and Nvidia also gained over 1%. In contrast, Microsoft fell by 0.59%, Amazon by 0.39%, Apple by 0.26%, and Facebook by 0.2% [3] - Nvidia announced the launch of the Drive AGX Thor development kit, available for pre-order immediately and set to ship in September, aimed at accelerating the design, testing, and deployment of autonomous vehicles and smart transportation solutions [3] - Nvidia also launched the Jetson AGX Thor developer kit, specifically designed for robotics applications, with a starting price of $3,499, now available for global customers including those in China [3] - Intel stated that Trump's US stockholding plan poses business risks, and on August 22, Intel announced an agreement with the US federal government for an $8.9 billion investment to acquire 433.3 million shares of Intel common stock at $20.47 per share, representing 9.9% of the company [3] Banking Sector - Most bank stocks declined, with JPMorgan down 0.49%, Goldman Sachs down 0.45%, Citigroup down 0.31%, and Morgan Stanley down 0.25%. However, Bank of America rose by 0.04%, and Wells Fargo increased by over 1% [4] Chinese Stocks - The Nasdaq Golden Dragon China Index saw a slight increase of 0.11%. Among popular Chinese stocks, Daqo New Energy rose by over 4%, Melco Resorts increased by over 3%, and NetEase gained over 2%. Conversely, Newegg fell by over 15%, DaJiang Cloud Warehouse dropped by over 9%, and Semtech declined by over 5% [4] Economic Indicators - According to the CME Group's FedWatch tool, traders currently estimate an 84% probability of a Federal Reserve interest rate cut in September [5] - The London Stock Exchange was closed, while the other two major European indices reported declines, with the CAC40 index in Paris closing at 7,843.04, down 126.65 points or 1.59%, and the DAX index in Frankfurt closing at 24,273.12, down 89.97 points or 0.37% [5]

Group 1 - The core viewpoint of the news is that Tuya Smart (TUYA) has shown significant financial growth, with a notable increase in both revenue and net profit, indicating strong performance in the cloud platform service sector [1][2][3] Group 2 - As of August 25, Tuya Smart's stock opened up by 3.2%, reaching $2.58 per share, with a total market capitalization of $1.573 billion [1] - Financial data reveals that as of March 31, 2025, Tuya Smart's total revenue amounted to $74.687 million, reflecting a year-on-year growth of 21.12%, while the net profit attributable to shareholders was $11.017 million, showing a remarkable increase of 410.95% [1] - Tuya Smart is recognized as a leading global cloud platform service provider, focusing on building a developer ecosystem for smart solutions, and offers a comprehensive range of products and services including PaaS, SaaS, and smart solutions [2]

Core Insights - Tuya Smart (TUYA) experienced a stock price increase of 5.02% on August 22, closing at $2.51 per share with a total market capitalization of $1.53 billion [1] - For the fiscal year ending March 31, 2025, Tuya Smart reported total revenue of $74.69 million, representing a year-over-year growth of 21.12%, and a net profit attributable to shareholders of $11.02 million, which is a significant increase of 410.95% [1] Company Overview - Tuya Smart is a leading global cloud platform service provider focused on building an ecosystem for developers of smart solutions [2] - The company has developed a proprietary cloud developer platform that integrates cloud computing and generative artificial intelligence capabilities, offering a complete range of products and services including Platform as a Service (PaaS), Software as a Service (SaaS), and smart solutions [2] - Through its cloud developer platform, Tuya Smart has fostered a vibrant global developer community consisting of brands, original equipment manufacturers, AI agents, system integrators, and independent software vendors, aimed at creating a green, low-carbon, safe, efficient, agile, and open ecosystem for smart solutions [2]

Group 1 - The core viewpoint of the news highlights Tuya Smart's strong financial performance, with a significant increase in both revenue and net profit for the fiscal year ending March 31, 2025 [1][2]. - Tuya Smart's total revenue reached $74.687 million, representing a year-on-year growth of 21.12% [1]. - The company's net profit attributable to shareholders was $11.017 million, showing a remarkable year-on-year increase of 410.95% [1]. Group 2 - Tuya Smart is set to release its mid-year report for the fiscal year 2025 on August 26, 2023, after market hours [2]. - The company is recognized as a leading cloud platform service provider, focusing on building a developer ecosystem for smart solutions [2]. - Tuya Smart has developed a proprietary cloud developer platform that integrates cloud computing and generative artificial intelligence capabilities, offering a complete range of products and services including PaaS and SaaS [2].

Core Viewpoint - Tuya Smart (TUYA) has shown a positive financial performance with significant revenue and profit growth, indicating strong market positioning and potential for future expansion [1][2]. Financial Performance - As of March 31, 2025, Tuya Smart reported total revenue of $74.687 million, representing a year-over-year increase of 21.12% [1]. - The company's net profit attributable to shareholders reached $11.017 million, marking a substantial year-over-year growth of 410.95% [1]. Upcoming Events - Tuya Smart is scheduled to release its fiscal year 2025 mid-term report on August 26, after market hours (Eastern Time) [2]. Company Overview - Tuya Smart is a leading global cloud platform service provider focused on building a developer ecosystem for smart solutions [2]. - The company has developed a proprietary cloud developer platform that integrates cloud computing and generative artificial intelligence capabilities [2]. - Tuya Smart offers a comprehensive range of products and services, including Platform as a Service (PaaS), Software as a Service (SaaS), and smart solutions [2]. - The company fosters a vibrant global developer community comprising brands, original equipment manufacturers, AI agents, system integrators, and independent software vendors [2].

Core Viewpoint - The article discusses the rapid advancements in Physical AI, emphasizing the importance of making AI accessible to hardware developers through open-source frameworks like TuyaOpen, which aims to break down technical barriers and facilitate innovation in AI hardware development [2][5][8]. Group 1: Industry Trends - The emergence of Physical AI is marked by significant developments, with major companies like NVIDIA showcasing comprehensive systems at events like the World Robot Conference [2]. - The article highlights three major technical bottlenecks faced by hardware developers in the Physical AI space: deep technical gaps, fragmented ecosystems, and commercialization challenges [5][6][7]. Group 2: Solutions Offered by Tuya - TuyaOpen is introduced as a solution to these challenges, allowing developers to create AI-enabled hardware without needing extensive algorithm knowledge, thus making AI capabilities more accessible [8][9]. - The framework connects developers to a global network, eliminating the need for costly cloud infrastructure and enabling compatibility with various hardware ecosystems [9]. - TuyaOpen also provides a clear pathway from development to commercialization, supporting developers with market access and supply chain resources [11][19]. Group 3: Creative Applications - Developers are utilizing TuyaOpen to create innovative AI hardware, such as AI robots that can respond to emotional cues and assist with daily tasks [12][14]. - The article showcases examples of creative projects, including an AI compass and a health-monitoring robot, demonstrating the potential of Physical AI to enhance user experiences [12][14][16]. Group 4: Commercialization Success - The article notes that Tuya has successfully partnered with companies like Kid Kingdom to launch AI toys, achieving significant sales in a short period [17]. - Tuya's collaboration with overseas partners, such as Aofei Entertainment, illustrates the effectiveness of localized AI solutions in expanding market reach [19][20]. - The focus is on transforming innovative ideas into commercially viable products, emphasizing the importance of market validation in the AI hardware sector [20].

Core Insights - Tuya Smart (TUYA) opened with a 2.03% increase, reaching $2.51 per share, with a total market capitalization of $1.53 billion as of 21:31 [1] - As of March 31, 2025, Tuya Smart reported total revenue of $74.687 million, reflecting a year-on-year growth of 21.12%, and a net profit attributable to shareholders of $11.017 million, showing a significant increase of 410.95% [1] Company Overview - Tuya Smart is a leading global cloud platform service provider focused on building an ecosystem for developers of smart solutions, enabling the Internet of Things (IoT) [2] - The company has developed a proprietary cloud developer platform that integrates cloud computing and generative artificial intelligence capabilities, offering a complete range of products and services including Platform as a Service (PaaS), Software as a Service (SaaS), and smart solutions [2] - Through its cloud developer platform, Tuya Smart has fostered a vibrant global developer community comprising brands, original equipment manufacturers, AI agents, system integrators, and independent software vendors, collectively creating a green, low-carbon, safe, efficient, agile, and open ecosystem for smart solutions [2] Upcoming Events - Tuya Smart is scheduled to disclose its mid-year report for the fiscal year 2025 on August 25, with the actual disclosure date subject to company announcements [2]