Smartkarma AI Primers, Smartkarma

αSK Primers

Smartkarma AI Primers

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

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Equity Bottom-Up

<ul>
 <li>
<a href="https://smartkarma.com/entities/lianyou-metals-co-ltd">Lianyou Metals</a> is experiencing hyper-growth, with significant year-over-year increases in revenue and net income, driven by strong demand in the recycled tungsten and cobalt markets.</li>
 <li>Despite impressive profitability, the company exhibits a significant red flag with consistently negative and deteriorating operating and free cash flows, indicating potential challenges in working capital management or cash conversion.</li>
 <li>The company's valuation is at a substantial premium to its peers, reflecting high market expectations for future growth, but also posing a considerable risk should growth momentum slow or cash flow issues persist.</li>
</ul>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.


  
Lianyou Metals is experiencing hyper-growth, with significant year-over-year increases in revenue and net income, driven by strong demand in the recycled tungsten and cobalt markets.
  Despite impressive profitability, the company exhibits a significant red flag with consistently negative and deteriorating operating and free cash flows, indicating potential challenges in working capital management or cash conversion.
  The company's valuation is at a substantial premium to its peers, reflecting high market expectations for future growth, but also posing a considerable risk should growth momentum slow or cash flow issues persist.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Lianyou Metals (7610 TT) - Aug 2026

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Index Rebalance

<ul>
<li>
<a href="https://www.smartkarma.com/entities/lianyou-metals-co-ltd" target="_blank" data-smartkarma-citation="entities:44886:1" rel="noopener">Lianyou Metals (7610 TT)</a>, <a href="https://www.smartkarma.com/entities/sanxiang-advanced-material-a" target="_blank" data-smartkarma-citation="entities:30188:1" rel="noopener">Sanxiang Advanced Material-A (603663 CH)</a> and <a href="https://www.smartkarma.com/entities/elevra-lithium-limited" target="_blank" data-smartkarma-citation="entities:1589:1" rel="noopener">Elevra Lithium (ELVR US)</a> will be added to the <a href="https://www.smartkarma.com/entities/vaneck-rare-earth-strategic-me" target="_blank" data-smartkarma-citation="entities:32320:1" rel="noopener">VanEck Rare Earth/Strategic Me (REMX US)</a> in June.</li>
<li>The constituent changes, float changes and capping changes result in an estimated one-way turnover of 9.6% and in a round-trip trade of US$840m.</li>
<li>All the adds have moved higher with huge price spikes in <a href="https://www.smartkarma.com/entities/lianyou-metals-co-ltd" target="_blank" data-smartkarma-citation="entities:44886:1" rel="noopener">Lianyou Metals (7610 TT)</a> and <a href="https://www.smartkarma.com/entities/sanxiang-advanced-material-a" target="_blank" data-smartkarma-citation="entities:30188:1" rel="noopener">Sanxiang Advanced Material-A (603663 CH)</a> recently.</li>
</ul>



Lianyou Metals (7610 TT), Sanxiang Advanced Material-A (603663 CH) and Elevra Lithium (ELVR US) will be added to the VanEck Rare Earth/Strategic Me (REMX US) in June.
The constituent changes, float changes and capping changes result in an estimated one-way turnover of 9.6% and in a round-trip trade of US$840m.
All the adds have moved higher with huge price spikes in Lianyou Metals (7610 TT) and Sanxiang Advanced Material-A (603663 CH) recently.


MV Global Rare Earth/​​​​​Strategic Metals Index Rebalance: 3 Adds and Other Changes; US$840m Trade

<ul>
<li>
<a href="https://www.smartkarma.com/entities/eq-resources-limited" target="_blank" data-smartkarma-citation="entities:14984:1" rel="noopener">EQ Resources (EQR AU)</a> and <a href="https://www.smartkarma.com/entities/core-lithium-ltd" target="_blank" data-smartkarma-citation="entities:14712:1" rel="noopener">Core Lithium Ltd (CXO AU)</a> will be added to the <a href="https://www.smartkarma.com/entities/vaneck-rare-earth-strategic-me" target="_blank" data-smartkarma-citation="entities:32320:1" rel="noopener">VanEck Rare Earth/Strategic Me (REMX US)</a> at the close on 18 September.</li>
<li>The constituent changes, float changes and capping changes result in an estimated one-way turnover of 7.7% and in a round-trip trade of US$514m.</li>
<li>Other passive index trackers will be buying significant size in <a href="https://www.smartkarma.com/entities/eq-resources-limited" target="_blank" data-smartkarma-citation="entities:14984:1" rel="noopener">EQ Resources (EQR AU)</a> and smaller size in <a href="https://www.smartkarma.com/entities/core-lithium-ltd" target="_blank" data-smartkarma-citation="entities:14712:1" rel="noopener">Core Lithium Ltd (CXO AU)</a> at the same time.</li>
</ul>



EQ Resources (EQR AU) and Core Lithium Ltd (CXO AU) will be added to the VanEck Rare Earth/Strategic Me (REMX US) at the close on 18 September.
The constituent changes, float changes and capping changes result in an estimated one-way turnover of 7.7% and in a round-trip trade of US$514m.
Other passive index trackers will be buying significant size in EQ Resources (EQR AU) and smaller size in Core Lithium Ltd (CXO AU) at the same time.


MV Global Rare Earth/​​​​​Strategic Metals Index Rebalance: Multiple Flows for the Adds

Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

<ul>
<li>The T50 index represents the top 50 largest stocks by market capitalization on the Taiwan Stock Exchange. The T100 index represents the next largest 100 names (51-150 ranks).</li>
<li>Today is the base date for the September 2026 index rebal event. The expected ADDs/DELs discussed in this insight are our final index change expectations.</li>
<li>We expect one ADD/DEL for T50 and three separate ADDs/DELs for the T100 index for the September 2026 rebal.</li>
</ul>


The T50 index represents the top 50 largest stocks by market capitalization on the Taiwan Stock Exchange. The T100 index represents the next largest 100 names (51-150 ranks).
Today is the base date for the September 2026 index rebal event. The expected ADDs/DELs discussed in this insight are our final index change expectations.
We expect one ADD/DEL for T50 and three separate ADDs/DELs for the T100 index for the September 2026 rebal.


Quiddity Leaderboard T50/​​​100 Sep26: Final Expectations

<ul>
<li>The T50 index represents the top 50 stocks by market capitalization in the Taiwan Stock Exchange. The T100 index represents the next 100 names (51-150 ranks).</li>
<li>In this insight, we take a look at the potential ADDs/DELs for the September 2026 index rebal event. Currently, we see no changes for T50 and two changes for T100.</li>
<li>In our last insight we saw multiple TDIV members close to T100 deletion. However, those names have drifted further away from T100 deletion.</li>
</ul>


The T50 index represents the top 50 stocks by market capitalization in the Taiwan Stock Exchange. The T100 index represents the next 100 names (51-150 ranks).
In this insight, we take a look at the potential ADDs/DELs for the September 2026 index rebal event. Currently, we see no changes for T50 and two changes for T100.
In our last insight we saw multiple TDIV members close to T100 deletion. However, those names have drifted further away from T100 deletion.


Quiddity Leaderboard T50/​​​100 Sep26: TDIV Deletion Names Moving Away from Danger Zone

Taiwan

Lianyou Metals Co., Ltd. operates as a tungsten smelter. The Company produces recycled tungsten and cobalt materials. Lianyou Metals markets its products across worldwide.

Price Gauge
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Lianyou Metals (7610 TT)

Primer: Lianyou Metals (7610 TT) - Aug 2026

Lianyou Metals is experiencing hyper-growth, with significant year-over-year increases in revenue and net income, driven by strong demand in...

αSK Primers

MV Global Rare Earth/Strategic Metals Index Rebalance: 3 Adds and Other Changes; US$840m Trade

There are 3 adds for REMX in June. The constituent changes, float changes and capping changes result in an estimated one-way turnover of 9.6% and...

Brian Freitas

MV Global Rare Earth/Strategic Metals Index Rebalance: Multiple Flows for the Adds

There are 2 adds in Sep. The constituent, float, capping changes result in an estimated one-way turnover of 7.7% and in a round-trip trade of...

Brian Freitas

Quiddity Leaderboard T50/100 Sep26: Final Expectations

We expect PharmaEssentia Corp (6446 TT) to replace King Yuan Electronics Co, Ltd. (2449 TT) in the T50 index in September 2026.

Janaghan Jeyakumar, CFA

Quiddity Leaderboard T50/100 Sep26: TDIV Deletion Names Moving Away from Danger Zone

If the worst-ranked T50 member Alchip (3661 TT) underperforms other names by 1% it could fall to the 61st place and get deleted . In this case,...

Janaghan Jeyakumar, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Primer: Lianyou Metals (7610 TT) - Aug 2026

Lianyou Metals is experiencing hyper-growth, with significant year-over-year increases in revenue and net income, driven by strong demand in...

αSK Primers

MV Global Rare Earth/​​​​​Strategic Metals Index Rebalance: 3 Adds and Other Changes; US$840m Trade

There are 3 adds for REMX in June. The constituent changes, float changes and capping changes result in an estimated one-way turnover of 9.6% and...

Brian Freitas

MV Global Rare Earth/​​​​​Strategic Metals Index Rebalance: Multiple Flows for the Adds

There are 2 adds in Sep. The constituent, float, capping changes result in an estimated one-way turnover of 7.7% and in a round-trip trade of...

Brian Freitas

Quiddity Leaderboard T50/​​​100 Sep26: Final Expectations

We expect PharmaEssentia Corp (6446 TT) to replace King Yuan Electronics Co, Ltd. (2449 TT) in the T50 index in September 2026.

Janaghan Jeyakumar, CFA

Quiddity Leaderboard T50/​​​100 Sep26: TDIV Deletion Names Moving Away from Danger Zone

If the worst-ranked T50 member Alchip (3661 TT) underperforms other names by 1% it could fall to the 61st place and get deleted . In this case,...

Janaghan Jeyakumar, CFA

MV Global Rare Earth/Strategic Metals Index Rebalance: 3 Adds and Other Changes; US$840m Trade

MV Global Rare Earth/Strategic Metals Index Rebalance: Multiple Flows for the Adds

Quiddity Leaderboard T50/100 Sep26: Final Expectations

Quiddity Leaderboard T50/100 Sep26: TDIV Deletion Names Moving Away from Danger Zone