Global Undervalued Small Caps

Guangdong Mingyang ElectricLtd

Market Cap: CN¥12.4b

Engages in the research, development, production, and sale of high/low voltage switchgear, transformer, and power transmission and distribution equipment in China.

ProCredit Holding

Market Cap: €551.3m

Provides commercial banking products and services for small and medium enterprises and private customers in Europe, South America, and Germany.

Jinzai Food GroupLtd

Market Cap: CN¥5.7b

Engages in the research, development, production, and sale of snack foods in China.

KH Neochem

Market Cap: JP¥98.2b

Researches, manufactures, and sells of petrochemical products in Japan and internationally.

Austriacard Holdings

Market Cap: €206.8m

Operates as a technology company in the fields of people, authentication of object, and information management in Western Europe, Nordics, the Americas, Central and Eastern Europe, Germany, Austria, Switzerland, Türkiye, the Middle East, and Africa.

Business First Bancshares

Market Cap: US$684.7m

Operates as the bank holding company for b1BANK that provides various banking products and services in Louisiana and Texas.

CLIO CosmeticsLtd

Market Cap: ₩272.0b

Provides makeup products in South Korea and internationally.

Austevoll Seafood

Market Cap: NOK 20.0b

A seafood company, produces and sells salmon and trout, whitefish, and pelagic in Norway, the European Union, the United Kingdom, Eastern Europe, Africa, North America, Asia, and South America.

Hanmi Financial

Market Cap: US$679.8m

Operates as the holding company for Hanmi Bank that provides business banking products and services in the United States.

Security Bank

Market Cap: ₱57.3b

Provides banking and financial products and services to wholesale and retail clients in the Philippines.

ACM Research

Market Cap: US$1.5b

Develops, manufactures, and sells capital equipment worldwide.

Firan Technology Group

Market Cap: CA$298.8m

Manufactures and sells aerospace and defense electronic products and subsystems in Canada, the United States, and China.

USCB Financial Holdings

Market Cap: US$325.1m

Operates as the bank holding company for U.S.

Visco Vision

Market Cap: NT$12.4b

Manufactures and sells silicone hydrogel contact lenses in Asia, Europe, and the Americas.

TQM Alpha

Market Cap: ฿9.0b

Engages in the insurance brokerage business in Thailand.

CorMedix

Market Cap: US$771.1m

A biopharmaceutical company, focuses on developing and commercializing therapeutic products for life-threatening diseases and conditions in the United States.

AEON Credit Service (M) Berhad

Market Cap: RM 2.6b

Provides consumer financial services in Malaysia.

Civista Bancshares

Market Cap: US$373.5m

Operates as the financial holding company for Civista Bank that provides community banking services in the United States.

Nagarro

Market Cap: €704.6m

Provides digital product engineering and technology solutions in Germany, the United States of America, and internationally.

Byrna Technologies

Market Cap: US$480.2m

A less-lethal self-defense technology company, develops, manufactures, and sells less-lethal personal security solutions in the United States, South Africa, Europe, South America, Asia, and Canada.

Alerus Financial

Market Cap: US$526.7m

Operates as the bank holding company for Alerus Financial, National Association that provides various financial services to businesses and consumers in the United States.

RVRC Holding

Market Cap: SEK 4.8b

Engages in the e-commerce outdoor clothing business in Germany, Sweden, Finland, and internationally.

AdaptHealth

Market Cap: US$1.2b

Distributes home medical equipment (HME), medical supplies, and home and related services in the United States.

Ibotta

Market Cap: US$933.1m

A technology company, provides digital promotion services to clients in the United States.

Lindsay Australia

Market Cap: AU$278.3m

Provides integrated transport, logistics, and rural supply services to the food processing, food services, fresh produce, and horticulture sectors in Australia.

Yamaichi ElectronicsLtd

Market Cap: JP¥55.2b

Manufactures and sells test, connector, and optical-related products in Japan and internationally.

Australian Clinical Labs

Market Cap: AU$546.1m

Provides pathology diagnostic services in Australia.

Hansae

Market Cap: ₩411.9b

Manufactures and sells finished clothing products in Vietnam, Indonesia, Nicaragua, Guatemala, Myanmar, and Haiti.

Thaifoods Group

Market Cap: ฿30.6b

Engages in the production and distribution of chicken and swine products in Thailand.

Truecaller

Market Cap: SEK 16.1b

Develops and publishes mobile caller ID applications for individuals and business in India, the Middle East, Africa, and internationally.

Equity Bancshares

Market Cap: US$714.4m

Operates as the bank holding company for Equity Bank that provides a range of banking, mortgage banking, and financial services to individual and corporate customers.

Orange County Bancorp

Market Cap: US$317.1m

Through its subsidiaries, provides commercial and consumer banking products and services.

L&K Engineering (Suzhou)Ltd

Market Cap: CN¥7.9b

Provides specialized engineering technical services in China.

Qt Group Oyj

Market Cap: €1.2b

Offers cross-platform solutions for the software development lifecycle in Finland, rest of Europe, the Asia Pacific, and North America.

PixArt Imaging

Market Cap: NT$29.9b

Researches, designs, produces, and sells CMOS image sensors and related ICs in Taiwan, Hong Kong, China, Japan, and internationally.

HDC Hyundai Development

Market Cap: ₩1.5t

Operates as a financial real estate company, provides real estate services primarily in South Korea.