Tuya Inc. American Depositary Shares, each representing one - TUYA STOCK NEWS

Tuya, a leading global cloud platform service provider, has announced its Annual General Meeting (AGM) for shareholders will be held on June 20, 2024, at 3:00 p.m. Hong Kong time in Hangzhou, China. The AGM will consider and vote on Proposed Resolutions outlined in the AGM Notice available on the company's website. Shareholders and ADS holders as of the close of business on May 21, 2024, are eligible to participate in the voting process. Tuya's board supports these resolutions and encourages shareholders to vote in their favor. Additionally, Tuya has filed its annual report on Form 20-F, including audited financial statements for the fiscal year ending December 31, 2023, available on both the company's and the SEC's websites.

Tuya (NYSE: TUYA; HKEX: 2391) reported its Q1 2024 financial results, with total revenue reaching $61.7 million, a 29.9% increase year-over-year. IoT PaaS revenue grew by 35.7% to $45.6 million. The gross margin improved to 47.8%, and the operating margin also saw significant improvement, narrowing the loss from 68.0% to 26.5%. Net loss decreased substantially to $3.5 million, while non-GAAP net profit was $12.3 million. The company generated $14.5 million in net cash from operating activities. Tuya's strategic focus on AI and smart technologies shows promising growth and profitability potential.

Tuya Smart, a global cloud developer service provider, showcased its use of Google's new Device and Structure APIs at Google I/O 2024. These APIs will enable Tuya to offer developers enhanced opportunities in the smart home market through its Smart App Solution. This solution streamline app development, reducing time and costs while supporting billions of devices. The Tuya-enabled App aims to provide seamless integration and management of smart home devices, enhancing user experience with customized scenarios. Tuya’s collaboration with Google underscores its commitment to driving innovation in the smart home sector.

Tuya Inc. will report its first quarter 2024 unaudited financial results on May 20, 2024. The conference call to discuss the results will be held on the same day. Participants can register online to receive access details. The replay will be available until May 27, 2024. A webcast will be accessible on the Company's investor relations website.

Tuya Inc. filed its 2023 Annual Report on Form 20-F and released its first Environmental, Social, and Governance (ESG) Report. The annual report is available on the company's investor relations website and the SEC's website. The ESG Report showcases Tuya's strategies, achievements, and sustainability goals progress.

Tuya Inc. announced its unaudited financial results for Q4 2023, showing significant revenue growth and improved margins. The company reported total revenue of US$64.4 million, up 42.2% YoY, with positive trends in IoT PaaS and SaaS revenue. Operating margin improved by 35.8 percentage points YoY, while net margin saw a 33.4 percentage point improvement. The company's cash position remained strong at US$984.3 million.

Tuya Inc. will report its fourth quarter 2023 unaudited financial results after the market closes on Tuesday, February 27, 2024. The company's management will hold a conference call to discuss the financial results. Participants need to register online to receive access details. The replay will be accessible through March 05, 2024, and a webcast of the conference call will be available on the Company's investor relations website.

Tuya Smart (NYSE: TUYA, HKEX: 2391) has partnered with Amazon Web Services (AWS) to deliver best practices in using Amazon Aurora at IoT industry, aiming to address high concurrency and low latency challenges faced by billions of online devices. Tuya leverages Aurora's unparalleled performance and availability at a global scale to manage billions of real-time online devices, providing a seamless user experience during peak traffic and ensuring data security compliance in different regions. The partnership with AWS has enhanced Tuya's IoT applications performance indicators, stability, low latency, scalability, and security, promoting the evolution of cloud experience.

Tuya Smart showcased a wide range of innovative smart products and solutions at CES 2024, highlighting market-leading innovations. The company emphasized its commitment to collaborating with global developers to deliver superior smart products to consumers and promote sustainable development and smart coexistence worldwide. The products unveiled included smart bird feeders, laser night light projectors, smart control panels, smart lawn mowers, smart photo frames, smart food thermometers, smart thermostats, and energy-saving kits, all designed to enhance happiness, elevate visual experiences, assist with home appliance management, memorialize moments, master food temperature, and promote sustainable development.