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    Kai Zao

    Research Analyst at CICC

    Kai Zao is an Executive Director and analyst at CICC, specializing in China/Hong Kong equity research with a focus on the consumer and retail sectors. Zao covers a number of leading companies including Alibaba, JD.com, Meituan, and Pinduoduo, delivering highly regarded research and actionable investment recommendations. Since joining CICC in 2020 after prior research roles at GF Securities and Deloitte, Zao has built a reputation for thorough fundamental analysis, with a strong track record evidenced by a success rate above 65% and consistently positive investor feedback. Zao holds professional credentials including Chinese securities qualifications and is known for a methodical research approach and well-recognized contributions to the CICC research team.

    Kai Zao's questions to Tuya (TUYA) leadership

    Kai Zao's questions to Tuya (TUYA) leadership • Q2 2024

    Question

    Kai Zao from CICC asked for an update on Tuya's GenAI strategy, seeking details on progress, key functions, customer feedback, investment plans, and the potential monetization model.

    Answer

    Incoming CFO Alex Yang detailed that Tuya is actively developing GenAI-enhanced products like smart watches and speakers, with trial production expected in Q4 2024 and revenue impact beginning next year. He outlined two potential monetization approaches: a SaaS model with end-user subscriptions for GenAI features, and a model where GenAI capabilities are included as a priced add-on within Tuya's PaaS or Smart Solution offerings for business customers.

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