HK Stock Market Move | TUYA-W(02391) soared over 220% once, incorporating DeepSeek's large model capabilities to expand cooperation scenarios at the terminal side.

TUYA-W (02391) soared more than 220% in the afternoon, hitting a record high of HKD 69.5. As of the time of publication, it is up 122.75% at HKD 47 with a trading volume of 6.1417 million HKD. On the news front, Tuya Smart, as a core driver 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 "natural language precise interaction, multi-modal scene 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 path for AI hardware development, helping them seize the interactive entry points in smart homes, smart offices, and other scenes. CICC pointed out that with the popularization of AI applications, the business model of "hardware + quality content + value-added services" is expected to gradually take shape. Recently, the company has expanded its cooperation in the end-side scenario, including: 1) Partnering with large model manufacturers to launch AI toy solutions. AI toys, with modules and AI models as the core, are expected to be gradually rolled out by Tuya in 2H25 with the help of its deep accumulation in the developer cloud platform. 2) Collaborating with Chery to explore landing scenarios in the smart car field and jointly create intelligent cabins to accelerate the construction of the car-home interconnection ecosystem. CICC believes that Tuya's cooperation with Chery is expected to expand solutions in the smart car and outdoor fields.