Global Capital Goods Undervalued Small Caps

Guangdong Mingyang ElectricLtd

Market Cap: CN¥13.6b

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

ADENTRA

Market Cap: CA$850.9m

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.

Byrna Technologies

Market Cap: US$450.2m

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.

Vp

Market Cap: UK£233.1m

Provides equipment rental and related services in the United Kingdom and internationally.

Bird Construction

Market Cap: CA$1.4b

Provides construction services in Canada.

J. Kumar Infraprojects

Market Cap: ₹50.7b

Engages in the construction business in India.

Ashtead Technology Holdings

Market Cap: UK£262.4m

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

Mark Dynamics Indonesia

Market Cap: Rp2.5t

Manufactures and sells hand former products in Indonesia and internationally.

AKVA group

Market Cap: NOK 3.2b

Designs, purchases, manufactures, assembles, sells, and installs technology products; and provides rental and consulting services for the aquaculture industry.

Cadeler

Market Cap: NOK 17.8b

Engages in offshore wind farm installation, operations, and maintenance services in Denmark.

Miller Industries

Market Cap: US$491.6m

Manufactures and sells towing and recovery equipment.

Eurocell

Market Cap: UK£148.0m

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.

Windey Energy Technology Group

Market Cap: CN¥12.1b

Researches, develops, manufactures, and sells wind turbines in China.

Daewoo Engineering & Construction

Market Cap: ₩1.5t

Daewoo Engineering & Construction Co., Ltd.

Binastra Corporation Berhad

Market Cap: RM 1.9b

An investment holding company, engages in general contractor and property developer, building and civil engineering works in turnkey projects in Malaysia.

Colt CZ Group

Market Cap: Kč40.5b

Engages in the production and sale of firearms, ammunition products, and tactical accessories in the Czech Republic, Canada the United States, rest of Europe, Africa, Asia, and internationally.

Heidelberger Druckmaschinen

Market Cap: €646.7m

Manufactures, sells, and deals in printing presses and other print media industry products in Europe, the Middle East, Africa, the Asia Pacific, and the Americas.

Yizumi Holdings

Market Cap: CN¥11.3b

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

Nishio Holdings

Market Cap: JP¥113.1b

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

Namura Shipbuilding

Market Cap: JP¥230.3b

Engages in the manufacture and sale of ships, machinery, and steel structures worldwide.

China State Construction Development Holdings

Market Cap: HK$3.4b

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

HDC HOLDINGSLtd

Market Cap: ₩1.1t

Engages in real estate development and construction activities in South Korea.

Maezawa Industries

Market Cap: JP¥32.8b

Designs, manufactures, sells, and installs equipment and apparatus for water supply and sewage systems in Japan and internationally.

Allied Machinery

Market Cap: CN¥6.4b

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

StarragTornos Group

Market Cap: CHF 177.6m

Develops, manufactures, and distributes precision machine tools for milling, turning, boring, grinding, and machining of work pieces of metal, composite materials, and ceramics.

Zumtobel Group

Market Cap: €184.0m

Operates in the lighting industry worldwide.

Magellan Aerospace

Market Cap: CA$895.9m

Through its subsidiaries, engineers and manufactures aeroengine and aerostructure components for aerospace markets in Canada, the United States, and Europe.

L&K Engineering (Suzhou)Ltd

Market Cap: CN¥7.7b

Provides specialized engineering technical services in China.

Chicony Power Technology

Market Cap: NT$43.5b

Develops, manufactures, and sells switching power supplies, electronic components and LED lighting modules, and smart building solutions in Taiwan.

Eaglerise Electric & Electronic (China)

Market Cap: CN¥7.2b

Eaglerise Electric & Electronic (China) Co., Ltd.

DL E&CLtd

Market Cap: ₩1.7t

A construction company, provides engineering, procurement, and construction solutions in South Korea.

technotrans

Market Cap: €168.5m

Operates as a technology and services company worldwide.

Toyo Tanso

Market Cap: JP¥86.7b

Engages in the production and sale of carbon materials in Japan and internationally.

Shenzhen Sinexcel ElectricLtd

Market Cap: CN¥12.6b

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

Changgao Electric Group

Market Cap: CN¥4.5b

Engages in the research, development, manufacture, and sale of power transmission equipment in the People's Republic of China.

Matsuya R&DLtd

Market Cap: JP¥15.1b

Develops, manufactures, and sells stitching systems for automobile safety devices in Japan.