SCHEDULE 13G/A: Tuya Inc. Major Shareholder Xueji Wang and Affiliates Update Beneficial Ownership in Latest SEC Filing

A recent Schedule 13G/A filing reveals updated beneficial ownership stakes in Tuya Inc. by its founder Xueji Wang and affiliated entities, including a transfer of shares between related parties.

Summary

• Xueji Wang, a Chinese citizen, beneficially owns 118,700,000 Class A ordinary shares of Tuya Inc., representing 20.4% of the Class A ordinary shares and 19.5% of the total ordinary shares (assuming conversion of all Class B shares).
• Tenet Smart Limited, Tenet Global Limited, and Tenet Group Limited each beneficially own 103,600,000 Class A ordinary shares, representing 18.0% of the Class A ordinary shares and 17.0% of the total ordinary shares.
• Tuya Group Inc. beneficially owns 10,000,000 Class A ordinary shares, representing 1.8% of the Class A ordinary shares and 1.6% of the total ordinary shares.
• The percentages are calculated based on 539,516,649 Class A ordinary shares and 70,205,300 Class B ordinary shares of Tuya Inc. issued and outstanding as of April 15, 2025, as disclosed in the Issuer's Form 20-F filed on April 24, 2025.
• Tenet Vision Limited transferred all of its remaining 34,806,920 Class B ordinary shares to Tenet Group Limited on February 25, 2025, and has ceased to be a beneficial owner of 5% or more of the outstanding Class A ordinary shares, making this an exit filing for Tenet Vision Limited.

Sentiment

Score: 5

Explanation: The document is a factual disclosure of beneficial ownership and does not contain information that would indicate a positive or negative sentiment regarding the company's performance or prospects.

Future Outlook

This filing is a disclosure of beneficial ownership and does not contain forward-looking statements or guidance regarding the company's future performance or outlook.

Industry Context

This filing is a routine regulatory disclosure of significant beneficial ownership and does not provide insights into broader industry trends or competitive landscape. It primarily clarifies the ownership structure of a key insider and related entities.

Related Party Transactions

• Xueji Wang is the settlor and beneficiary of a trust that ultimately wholly owns Tenet Smart Limited. Tenet Global Limited is wholly owned by Tenet Smart Limited. Tenet Group Limited and Tenet Vision Limited are wholly owned by Tenet Global Limited.
• Tuya Group Inc. is wholly owned by Xueji Wang.
• The transfer of 34,806,920 Class B ordinary shares from Tenet Vision Limited to Tenet Group Limited on February 25, 2025, represents an internal restructuring of beneficial ownership within the entities controlled by Xueji Wang.

Stakeholder Impact

• Shareholders: Provides clarity on the significant beneficial ownership held by the company's founder and his affiliated entities, confirming the concentration of voting power.

Key Dates

Keywords

Tuya Inc., Schedule 13G, beneficial ownership, Xueji Wang, Tenet Smart Limited, Tenet Global Limited, Tenet Group Limited, Tuya Group Inc., Class A ordinary shares, Class B ordinary shares, SEC filing, ownership update