Global Capital Goods Undervalued Small Caps

Eaglerise Electric & Electronic (China)

Market Cap: CN¥6.2b

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.

NittoseikoLtd

Market Cap: JP¥21.1b

Manufactures and sells industrial fasteners and tools, industrial machinery and precision equipment, measurement and control equipment, and medical equipment in Japan, rest of Asia, and internationally.

Patel Engineering

Market Cap: ₹35.0b

Provides infrastructure and construction services in India and internationally.

OC Oerlikon

Market Cap: CHF 1.2b

Provides surface engineering, polymer processing, and additive manufacturing services in Europe, the Americas, and the Asia-Pacific.

Kepler Weber

Market Cap: R$1.3b

Provides storage equipment and post-harvest grain solutions in Brazil, Central and South America, Africa, and Asia.

Man Industries (India)

Market Cap: ₹16.9b

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

DAIHEN

Market Cap: JP¥152.0b

Manufactures and sells transformers, welding machines, and industrial and clean transport robots.

Nippon Dry-Chemical

Market Cap: JP¥28.3b

Engages in the design, manufacture, and sale of fire extinguishing equipment, fire engines, security systems, etc.

Frencken Group

Market Cap: S$444.2m

An investment holding company, provides original design, original equipment, and diversified integrated manufacturing solutions worldwide.

Next Geosolutions Europe

Market Cap: €410.9m

Provides geoscience and engineering services for energy, infrastructure, and utilities sectors.

Electrolux Professional

Market Cap: SEK 17.1b

Engages in the provision of food service, beverage, and laundry products and solutions to restaurants, hotels, healthcare, educational, and other service facilities.

HD Hyundai Infracore

Market Cap: ₩1.6t

Engages in the production and sale of construction equipment, engines, attachments, and utility equipment in South Korea and internationally.

Ficont Industry (Beijing)

Market Cap: CN¥5.4b

Provides wind energy, construction, and safety protection equipment in China and internationally.

Rayhoo Motor DiesLtd

Market Cap: CN¥8.1b

Designs, develops, manufactures, and sells stamping dies and auto welding lines in China and internationally.

Meidensha

Market Cap: JP¥193.5b

Engages in the power infrastructure; public, industrial, and commercial sector; mobility and electrical components; field service engineering; and real estate businesses in Japan and internationally.

Shenzhen Highpower Technology

Market Cap: CN¥4.2b

Engages in the research, design, development, manufacture, and sale of lithium-ion and nickel-metal hydride batteries in China.

Ryobi

Market Cap: JP¥67.1b

Operates as a die casting manufacturer in Japan, the United States, China, and internationally.

Construcciones y Auxiliar de Ferrocarriles

Market Cap: €1.6b

Construcciones y Auxiliar de Ferrocarriles, S.A.

Hexatronic Group

Market Cap: SEK 5.3b

Develops, manufactures, markets, and sells fiber communication solutions in Sweden, Rest of Europe, North America, Asia Pacific, the United Kingdom, and internationally.

Badger Infrastructure Solutions

Market Cap: CA$1.4b

Provides non-destructive excavating and related services in Canada and the United States.

Makino Milling Machine

Market Cap: JP¥212.4b

Engages in the manufacture and sale of machine tools in Japan, China, rest of Asia, the United States, rest of Americas, Europe, and internationally.

ShenZhen Click TechnologyLTD

Market Cap: CN¥6.2b

Designs, produces, sells, and services LED lighting power supplies, power battery chargers, communication power supplies, adapters, magnetic components, electric car chargers, charging piles, and others in China and internationally.

Nancal TechnologyLtd

Market Cap: CN¥7.5b

Provides digital transformation solutions in China and internationally.

Arctech Solar Holding

Market Cap: CN¥10.2b

Manufactures and supplies solar trackers, fixed-tilt structures, and building-integrated photovoltaics (BIPV) solutions for utility-scale and commercial solar projects worldwide.

Hong Leong Asia

Market Cap: S$823.0m

An investment holding company, manufactures and distributes powertrain solutions and related products, building materials, and rigid packaging products in the People’s Republic of China, Singapore, Malaysia, and internationally.

Bozhon Precision Industry TechnologyLtd

Market Cap: CN¥11.2b

Bozhon Precision Industry Technology Co.,Ltd.

Cadeler

Market Cap: NOK 17.8b

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

AKVA group

Market Cap: NOK 2.6b

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

Orion Group Holdings

Market Cap: US$305.4m

Operates as a specialty construction company in the infrastructure, industrial, and building sectors in the United States, Alaska, Hawaii, Canada, and the Caribbean Basin.

PORR

Market Cap: €1.2b

Operates as a construction company in Austria, Germany, Poland, the Czech Republic, Italy, Romania, Switzerland, Serbia, Great Britain, Slovakia, Norway, Belgium, and internationally.

Altea Green Power

Market Cap: €143.1m

Provides renewable energy systems for individuals, companies, institutions and investors in Italy.

Alligo

Market Cap: SEK 5.8b

Offers workwear, personal protection equipment, tools, and consumables in Sweden, Norway, and Finland.

Savaria

Market Cap: CA$1.4b

Provides accessibility solutions for the elderly and physically challenged people in Canada, the United States, Europe, and internationally.

Russel Metals

Market Cap: CA$2.2b

Engages in the distribution of steel and other metal products in Canada and the United States.

Cirrus Aircraft

Market Cap: HK$11.1b

Manufactures and sells piston aircraft and single-engine turbine jets worldwide.