Tuya Inc. is the largest IoT PaaS business in the global market of IoT PaaS in terms of the volume of smart devices powered, according to CIC. Tuya has pioneered a purpose-built IoT cloud platform that delivers a full suite of offerings, including Platform-as-a-Service, or PaaS, and Software-as-a-Service, or SaaS, to businesses and developers. Tuya's IoT PaaS currently enables businesses and developers to develop smart devices in more than 1,100 categories sold across over 220 countries and regions globally. In 2020, Tuya powered over 116.5 million smart devices. As of December 31, 2020, there were approximately 204.3 million smart devices powered by Tuya. Tuya is also attracting an increasing number of Industry SaaS customers. Together as a team, Tuya has a vision that in the era of Internet of Things, or IoT, every