HK Stock Market Move | TUYA-W(02391) surged over 35% at one point. Recently expanding AI edge cooperation scenarios. CICC predicts that the company's performance will continue to recover.

TUYA-W(02391) surged more than 35% at one point, with the company's US stocks soaring nearly 26% overnight. As of the time of writing, it has risen by 27.96%, trading at 27 Hong Kong dollars with a trading volume of 863,100 Hong Kong dollars. On the news front, according to the Tuya Smart public account, Tuya Smart, as a core promoter of the global AI hardware ecosystem, has integrated DeepSeek's large model capabilities on its cloud developer platform. This means that core hardware devices within its ecosystem, such as Powered by Tuya central control screens, speakers, gateways, etc., can be upgraded to "actively intelligent" through AI technologies such as "precise natural language interaction" and "multi-modal scenario perception". This integration signifies Tuya's further layout in the AI Device and AI Edge fields, providing developers with a lower threshold and more efficient AI hardware development path, helping them seize the interaction gateway in smart home, smart office, and other scenarios. A recent research report by Zhongjin pointed out that it is expected that the performance in the fourth quarter of 2024 will continue to recover, with future trends looking positive. In addition, with the promotion of AI applications, the commercial model of "hardware + premium content + value-added services" is expected to gradually land. Recent expansions in cooperation scenes by the company include: 1) Teaming up with large model manufacturers to launch AI toy solutions. AI toys core features are modules combined with AI models. The report believes that Tuya, with its deep accumulation on the developer cloud platform, is expected to gradually push forward the landing of AI toys by collaborating with large model manufacturers in the second half of 2025. 2) Collaborating with Chery to explore landing scenarios in the smart automotive field, jointly creating intelligent cockpits, accelerating the construction of the car-home interconnection ecosystem. The report believes that the cooperation between Tuya and Chery is expected to expand smart automotive and outdoor field solutions.