10 Chinese Penny Stocks to Buy According to Analysts

3. Tuya Inc. (NYSE:TUYA)

Share Price (As of December 17): $1.81

Analysts Upside: 60.77%

Tuya Inc. (NYSE:TUYA) is a cloud services provider primarily involved in the provision of Internet of Things (IoT) cloud development platforms and services. The company’s cloud development platforms allow clients to access a common infrastructure and all the ready-to-use software, development tools, and services needed to develop and manage smart devices. Tuya’s products are mainly used in smart home, smart business, healthcare, agriculture, sports, education, and entertainment.

Tuya Inc. (NYSE:TUYA) is one of the leading tech companies in China committed to advancing sustainability on a global scale. The company has several collaborations including Xanlite, Nahui New Energy Technology by Haier Group, and ESR. In cooperation with these partners, Tuya provides smart home energy-saving solutions and promotes green living. On November 29, the company was recognized by UNGC for its innovative Home Energy Management System (HEMS) at the ’20 CASES FOR 20 YEARS’ of Private Sector Sustainable Development in China. Tuya’s HEMS is expected to support 1.8 million households in Singapore and achieve an average energy savings of 25%.

IoT and AI are two of the fastest-growing technologies and will become fundamental over the next two decades. Tuya Inc. (NYSE:TUYA) being an IoT specialized company is also leveraging AI capabilities with hardware, creating AI devices such as smart bird feeders. Tuya experienced a 34% revenue growth in the third quarter of 2024 from a year ago while IoT Platform-as-a-Service (PaaS) revenue and Smart Solutions revenue soared over 26% and 100% year-over-year, respectively.