10 Best Performing Chinese Stocks So Far in 2025

5. Tuya Inc. (NYSE:TUYA)

No. of Hedge Fund Holders: 13

YTD Returns: 72.88%

Tuya Inc. (NYSE:TUYA) is an IoT company offering cloud platform services, emphasizing smart solutions and AI capabilities. The company has a vibrant global developer community, improving its ecosystem’s growth and innovation. Tuya provides a wide range of services, including PaaS and SaaS, catering to diverse industry needs.

Tuya Inc. (NYSE:TUYA) recently partnered with Chinese automaker Chery to create a smart cockpit and accelerate the integration of automotive and home ecosystems. Chery will leverage Tuya’s cutting-edge smart space solutions for passenger vehicles. This is a major deal for the company that will have a positive impact on Tuya’s growing presence in the smart solutions segment.

During the third quarter of 2024, the company posted a top-line growth of 33.6% to $81.6 million. The smart solutions segment experienced a remarkable 100% year-over-year revenue growth, driven by strong market demand. Moreover, the company’s IoT PaaS and SaaS segments posted 26.4% and 17% year-over-year revenue growth, respectively. Tuya Inc. has a strong cash position with a balance of $1.02 billion.