Global Inefficient Market Opportunities

Tianli International Holdings

Market Cap: HK$3.9b

An investment holding company, provides education management and diversified services in China.

Raya Holding Company for Financial Investments (S.A.E)

Market Cap: ج.م26.1b

Operates in information technology, data center outsourcing, contact center, smart buildings, consumer electronics, food and beverage, land transport, E-payments, and non-banking financial services fields in Egypt and internationally.

YSB

Market Cap: HK$3.9b

Develops digital pharmaceutical platform for pharmaceutical companies, distributors, vendors, pharmacies, and primary healthcare institutions in China.

Caledonia Mining

Market Cap: US$476.5m

Primarily operates a gold mine in Jersey.

BFF Bank

Market Cap: €399.0m

Engages in non-recourse factoring and credit management activities towards public administration bodies and private hospitals in Italy, Croatia, the Czech Republic, France, Greece, Poland, Portugal, Slovakia, and Spain.

Man Industries (India)

Market Cap: ₹40.7b

Manufactures, processes, sells, and trades in submerged arc-welded pipes and steel products in India.

H.G. Infra Engineering

Market Cap: ₹39.4b

Engages in the engineering, procurement, and construction (EPC) business in India.

Cruzeiro do Sul Educacional

Market Cap: R$2.1b

Provides education services in Brazil.

Guangzhou Xiao Noodles Catering Management

Market Cap: HK$3.0b

Engages in the self-operated noodle restaurant and manages franchise operations in China and Hong Kong.

AutoCanada

Market Cap: CA$530.1m

Through its subsidiaries, operates franchised automobile dealerships and related business.

PC1 Group

Market Cap: ₫9.9t

Engages in the construction, industrial production, real estate, energy, trading, exploitation and operation of industrial zone, mining, and other businesses in Vietnam.

China Aircraft Leasing Group Holdings

Market Cap: HK$2.9b

An investment holding company, provides aircraft leasing services to airline companies in Mainland China and internationally.

Autosports Group

Market Cap: AU$521.9m

Engages in the motor vehicle retailing business in Australia and New Zealand.

Lippo Karawaci

Market Cap: Rp6.3t

Engages in real estate development, healthcare and lifestyle businesses in Indonesia.

HANDSOME

Market Cap: ₩540.1b

Manufactures and sells women’s apparel in Korea, China, and Europe.

Village Farms International

Market Cap: US$356.8m

Produces, markets, and distributes greenhouse grown tomatoes, bell peppers, and cucumbers in North America.

Ventura Offshore Holding

Market Cap: NOK 3.3b

A deep-water drilling contractor, provides offshore drilling services to the oil and gas industry in Brazil and internationally.

Sylvania Platinum

Market Cap: UK£260.4m

Engages in the retreatment of platinum group metals (PGM) bearing chrome tailings materials in South Africa.

Inspur Digital Enterprise Technology

Market Cap: HK$2.7b

An investment holding company, engages in management software development, cloud services, and sale of Internet of Things (IoT) solutions in the People’s Republic of China.

Next 15 Group

Market Cap: UK£242.7m

Next 15 Group plc, together with its subsidiaries, customer insight, customer delivery, customer engagement, and business transformation services in the United Kingdom, Africa, the United States, Europe, Middle East, and Africa.

SIGA Technologies

Market Cap: US$323.1m

A commercial-stage pharmaceutical company, focuses on the health security market in the United States.

Loadstar Capital K.K

Market Cap: JP¥51.4b

Engages in the real estate investment business in Japan.

Bonduelle

Market Cap: €275.3m

Engages in the provision of plant-based food in Europe and internationally.

Aurelia Metals

Market Cap: AU$448.8m

Engages in the exploration and production of mineral properties in Australia.

Winton Land

Market Cap: NZ$539.8m

Engages in the real estate business in New Zealand and Australia.

Ânima Holding

Market Cap: R$1.6b

Offers education services in Brazil.

Organogenesis Holdings

Market Cap: US$310.0m

A regenerative medicine company, develops, manufactures, and commercializes products for the advanced wound care, and surgical and sports medicine markets in the United States.

Aeris Resources

Market Cap: AU$431.0m

Explores, produces, and sells precious metals in Australia.

ACCO Brands

Market Cap: US$306.3m

Designs, manufactures, and markets consumer, school, technology, and office products in the United States, Canada, Brazil, Mexico, Chile, Europe, the Middle East, Australia, New Zealand, and Asia.

EFC (I)

Market Cap: ₹28.4b

Engages in real estate leasing business in India.

Angler Gaming

Market Cap: €254.9m

Invests in companies that offer gaming services through the internet in Malta.

Regina Miracle International (Holdings)

Market Cap: HK$2.3b

An investment holding company, designs, manufactures, and trades in a range of intimate wear and sports products.

Concord New Energy Group

Market Cap: HK$2.3b

An investment holding company, engages in the generation of power in the People’s Republic of China and internationally.

Meeka Metals

Market Cap: AU$412.4m

Engages in the exploration and development of gold properties in Western Australia.

HWASHINLtd

Market Cap: ₩430.5b

Manufactures and sells automobile components.

29Metals

Market Cap: AU$402.5m

Operates as a copper-focused base and precious metals mining company in Australia and Chile.