Global Capital Goods Undervalued Small Caps

Guangdong Mingyang ElectricLtd

Market Cap: CN¥13.5b

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

Tennant

Market Cap: US$1.4b

Designs, manufactures, and markets floor cleaning equipment in the Americas, Europe, the Middle East, Africa, and the Asia Pacific.

ADENTRA

Market Cap: CA$621.7m

Engages in the wholesale distribution of architectural building products to the residential, repair and remodel, and commercial construction markets in Canada and the United States.

Daewoo Engineering & Construction

Market Cap: ₩1.4t

Daewoo Engineering & Construction Co., Ltd.

Yizumi Holdings

Market Cap: CN¥9.5b

Designs, researches and develops, manufactures, sells, and services various molding machines in China and internationally.

Bird Construction

Market Cap: CA$1.4b

Provides construction services in Canada.

Shenzhen Sinexcel ElectricLtd

Market Cap: CN¥9.8b

Provides energy interconnection ecosystem in China, rest of Asia, Oceania, Europe, North America, South America, and Africa.

J. Kumar Infraprojects

Market Cap: ₹47.7b

Engages in the construction business in India.

LSI Industries

Market Cap: US$465.0m

Manufactures and distributes commercial lighting, graphics, and display solutions across strategic vertical markets.

Shijiazhuang Shangtai Technology

Market Cap: CN¥13.5b

Shijiazhuang Shangtai Technology Co., Ltd.

Ashtead Technology Holdings

Market Cap: UK£354.7m

Provides subsea equipment rental solutions for the offshore energy sector in Europe, the Americas, the Asia-Pacific, and the Middle East.

JOST Werke

Market Cap: €792.7m

Manufactures and supplies safety-critical systems for the commercial vehicle industry in Germany, Europe, North America, Asia, Pacific, and Africa.

Shenzhen Yinghe Technology

Market Cap: CN¥11.0b

Engages in the research and development, production, and sale of lithium-ion battery automation equipment in China.

People & Technology

Market Cap: ₩1.0t

Offers coating, calendaring, slitting, automation, and other machineries.

Nitto Boseki

Market Cap: JP¥157.8b

Engages in the manufacture, processing, and sale of textile products and textile-related industrial goods, rock wool and building materials, glass fiber products, and specialty chemicals and medical products in Japan.

Miller Industries

Market Cap: US$516.0m

Manufactures and sells towing and recovery equipment.

Morgan Advanced Materials

Market Cap: UK£571.7m

Manufactures and sells various carbon and ceramic products.

Senior

Market Cap: UK£624.2m

Designs, manufactures, and sells high-technology components and systems for the original equipment manufacturers in the aerospace, defense, land vehicle, and power and energy markets in North America, the United Kingdom, South Africa, India, China, and internationally.

AutoStore Holdings

Market Cap: NOK 18.5b

Provides robotic and software technology in Norway, Germany, Europe, the United States, Asia, and internationally.

Ducommun

Market Cap: US$992.6m

Provides engineering and manufacturing services for products and applications used in the aerospace and defense, industrial, medical, and other industries in the United States.

Eurocell

Market Cap: UK£157.9m

Engages in manufacture, distribution, and recycling of windows, doors, and roofline polyvinyl chloride (PVC) building products in the United Kingdom and the Republic of Ireland.

Nissei ASB Machine

Market Cap: JP¥71.4b

Engages in the planning, development, manufacturing, and sale of machines that produce PET and other plastic bottles worldwide.

Sichuan Injet Electric

Market Cap: CN¥9.5b

Engages in the research and development, design, and manufacturing of industrial power equipment in China.

TaewoongLtd

Market Cap: ₩315.5b

Manufactures and sells open-die forgings and ring rolled products in South Korea and internationally.

SolaX Power Network Technology (Zhejiang)

Market Cap: CN¥8.4b

SolaX Power Network Technology (Zhejiang) Co., Ltd.

FSE Lifestyle Services

Market Cap: HK$2.5b

An investment holding company, provides city essential services in Hong Kong, Mainland China, and Macau.

Mangata Holding

Market Cap: zł484.7m

Operates as an industrial holding company in Poland and internationally.

Compagnie d'Entreprises CFE

Market Cap: €222.2m

Engages in the real estate, multitechnics, construction and renovation, and sustainable investment businesses in Belgium, Poland, Luxembourg, and internationally.

Renold

Market Cap: UK£101.9m

Engages in the manufacture and sale of high precision engineered products and solutions in the United Kingdom, rest of Europe, the United States, Canada, Australasia, China, India, and internationally.

Palfinger

Market Cap: €1.0b

Produces and sells crane and lifting solutions in Austria and internationally.

China State Construction Development Holdings

Market Cap: HK$3.7b

An investment holding company, engages in the general contracting business in Hong Kong and internationally.

Nishio Holdings

Market Cap: JP¥106.5b

Engages in the construction machinery rental business in Japan and internationally.

Sanil Electric

Market Cap: ₩1.8t

Manufactures and sell transformer in Korea and internationally.

Allied Machinery

Market Cap: CN¥4.9b

Designs, researches and develops, produces, and sells high-precision mechanical parts and precision cavity mold products in China and the United States.

Rheon Automatic Machinery

Market Cap: JP¥32.6b

Develops, manufactures, and supplies a range of food processing machines and factory systems in Japan and internationally.

Tasmea

Market Cap: AU$609.8m

Provides shutdown, maintenance, emergency breakdown, and capital upgrade services in Australia.