HONG KONG, China, June 16, 2021—Tuya Smart (NYSE: TUYA), a leading global IoT cloud platform, concluded its first ever AI+IoT Business Conference Online focused on Hong Kong. Themed “Joint Efforts & Prosperous Growth” the conference aimed to promote the intelligent upgrading of traditional industries in Hong Kong to bring benefits to the everyday life of local consumers.

The virtual conference was part of Tuya’s larger strategy to showcase IoT industry ecosystem and business opportunities to developers in countries and regions around the world. In recent years Hong Kong has vigorously promoted the development of state-of-the-art technologies while leveraging local advantages. Hong Kong is also committed to becoming a smarter city. With the dynamic rise of various smart industries Hong Kong is becoming a consumer market suitable for IoT products. According to data from Digital Market Outlook, revenue from the smart home market in Hong Kong is expected to reach 215.06 million U.S. dollars by 2025.

Conference speakers included industry veterans from RHT Industries Limited, Earn Well Technology Limited, City University of Hong Kong, IoT HK Association and Tuya Smart. Speakers shared experiences and learnings on topics such as glocalization, IoT technology and industry trends.

For many families in Hong Kong smart home has become an essential part of their everyday lives. "To achieve an international standard smart home platform, there’s still a tremendous amount of work to do. Today we are excited to have found the Tuya IoT Cloud Platform, which is a mature and easily integrated solution for us” said Jack Lui, Head of Product & IT at RHT Industries Limited in his speech at the conference.

“The growth of interest in smart home also creates significant value by reducing energy consumption, supporting the ecological transition of our societies.” Edoardo Brianzi, CEO of Earn Well Technology Limited pointed out in his speech. In the context of proposed carbon neutrality, smart home and other IoT industries will all develop towards low carbon and low power consumption. “Renewable energy will play a more critical role in the future world energy portfolio," said Zijun Zhang, PhD, Associate Professor at City University of Hong Kong.

In the "Experts' view" session Jeff Immelt, Eva Na and Tina Yu from Tuya Smart along with Wilson Chong from IoT HK Association shared their insightful views on the IoT industry in Hong Kong. Wilson Chong, Chairman of IoT HK Association observed that “In the smart age, we’re all talking about decentralization. And key here is the data value of things. Therefore, I think IoT will come to have an even more valuable meaning, which is the intelligence of things.”

Since 2017 Tuya Smart has held a number of AI+IoT business conferences to discuss the development trends of IoT in Southeast Asia, Eurasia and Latin America, with the participation of hundreds of leading companies, thought leaders and smart business pioneers.

For more information please visit: https://www.tuya.com/events/abc/HK

About Tuya Smart

Tuya Smart (NYSE: TUYA) is a leading global IoT Cloud Platform with a unique, all-in-one offering of cloud + connectivity + app that makes it easy and affordable for brands, retailers, and OEMs to make their products smart. Tuya’s platform has smart-enabled more than 310,000 device SKUs in hundreds of categories worldwide, serving over 324,000 developers globally. Tuya is internationally operated with headquarters in the U.S., Germany, India, Japan, Colombia, and China.

For more information, please visit: Tuya's website, LinkedIn, Facebook, Twitter or YouTube.