Congratulations to Tuya Inc. (2391.HK) on its Successful Listing

Tuya Inc. has been successfully listed on the Mainboard of HKSE on 5 July 2022. AVISTA Group is honored to be engaged in providing valuation services with regards to this listing application.

Established in 2014, Tuya is a leading technology company focused on making lives smarter. Tuya does this through offering a cloud platform that connects a range of devices via the IoT. By building interconnectivity standards, Tuya bridges the intelligent needs of brands, OEMs, developers, and retail chains across a broad range of smart devices and industries. The company’s platform is backed by industry-leading technology complete with rigorous data protection and security.

Tuya’s solutions empower partners and customers by improving the value of their products while making consumers’ lives more convenient through the application of technology. Through its growing commercial SaaS business, Tuya offers intelligent business solutions for a wide range of verticals. Tuya has developed partnerships with leading Fortune 500 companies from around the world, including Philips, Schneider Electric, Lenovo and many others.

Tuya ranked the first with a market share of 14.9% in the global market of IoT PaaS for smart home and smart business in terms of revenue in 2021, and the largest IoT PaaS provider in the global market of IoT PaaS as a subset of the broader IoT industry in terms of the volume of smart devices powered in 2021, according to China Insights Consultancy. Tuya established a large and active community of over 510,000 registered IoT device and software developers as of December 31, 2021. Smart devices powered by Tuya are available in approximately 120,000 stores all over the world.

Date: 05 Jul 2022

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