Tuya Smart (02391.HK/TUYA) released its interim results for 2026 on August 25th. The report showed that total revenue for the first half of the year reached US$174 million, an increase of approximately 12.3% year-on-year; net profit was US$34.4 million, a year-on-year increase of 45.8%. Among these, PaaS (Platform-as-a-Service) business revenue was US$127 million, an increase of approximately 13.5% year-on-year, accounting for over 70% of total revenue. AI application and other revenue reached US$23.2 million, an increase of approximately 10.1% year-on-year. The company continues to strategically deploy AI Agent, AI hardware development tools, and scenario-based applications, and launched Tuya Cobuilder, an AI hardware development workspace, in the second quarter to accelerate the implementation of its AI business.