Global Undervalued Small Caps

Tianneng Power International

Market Cap: HK$8.0b

An investment holding company, engages in the research, development, manufacture, and sale of power batteries for electric vehicle market in the People’s Republic of China and internationally.

Shenzhen Sinexcel ElectricLtd

Market Cap: CN¥11.8b

Provides energy internet core power equipment and solutions in China and internationally.

Lum Chang Creations

Market Cap: S$162.2m

Operates as an urban revitalization specialist that offers conservation and restoration works in Singapore and Malaysia.

Ador Welding

Market Cap: ₹18.3b

Manufactures and supplies welding equipment, consumables, and automation solutions in India and internationally.

Man Industries (India)

Market Cap: ₹29.7b

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

AlicorpA

Market Cap: S/5.5b

Provides massive consumption and B2B products in Peru and internationally.

Taseco Air Services

Market Cap: ₫3.5t

Engages in airport commercial services in Vietnam.

Anhui Jinhe IndustrialLtd

Market Cap: CN¥11.2b

Engages in the research and development, production, and sales of food additives, daily chemical flavors, bulk chemicals, and intermediates.

Kolte-Patil Developers

Market Cap: ₹34.3b

Operates as a real estate development company in India.

Zavarovalnica Triglav d.d

Market Cap: €1.3b

Provides various life and non-life insurance products in Slovenia and internationally.

Baby Bunting Group

Market Cap: AU$325.0m

Engages in the retail of maternity and baby goods in Australia and New Zealand.

Kalekim Kimyevi Maddeler Sanayi Ve Ticaret Anonim Sirketi

Market Cap: ₺15.4b

Operates in the construction chemicals sector in Turkey and internationally.

Cerillion

Market Cap: UK£357.0m

Provides software for billing, charging, and customer relationship management (CRM) to the telecommunications sector in the United Kingdom, Europe, the Middle East, the Americas, and the Asia Pacific.

AlzChem Group

Market Cap: €1.4b

Develops, produces, and markets a range of chemical specialties in Germany, European Union, rest of Europe, Asia, NAFTA region, and internationally.

Nichols

Market Cap: UK£348.1m

Engages in supply of soft drinks to the retail, wholesale, catering, licensed, and leisure industries in the United Kingdom, the Middle East, Africa, and internationally.

Lime Technologies

Market Cap: SEK 4.1b

Provides software as a service (SaaS) based customer relationship management (CRM) solutions in the Nordic region.

Ferrari Group

Market Cap: €825.4m

Provides shipping, integrated logistics, and value-added services for jewelry and precious goods in Europe, Asia, North America, Brazil, and internationally.

Fabasoft

Market Cap: €170.4m

Provides software products and cloud services for digital document, process, and file management in Austria, Germany, Switzerland, and internationally.

Synsam

Market Cap: SEK 9.5b

Operates in the optical retail and eye health sector in the Nordic Region.

Paxman

Market Cap: SEK 1.2b

Develops and sells Paxman scalp cooling system to minimize hair loss in connection with chemotherapy treatment worldwide.

Kinepolis Group

Market Cap: €793.1m

Operates and manages cinemas in Belgium, France, Canada, Spain, the Netherlands, the United States, Luxembourg, and internationally.

Aramis Group SAS

Market Cap: €365.9m

Engages in the online sale of used vehicles in France, Belgium, the United Kingdom, Austria, Italy, and Spain.

Elixirr International

Market Cap: UK£388.3m

Through its subsidiaries, provides management consultancy services in the United Kingdom, the United States, and internationally.

Fresh Del Monte Produce

Market Cap: US$1.8b

Through its subsidiaries, produces, markets, and distributes fresh and fresh-cut fruits and vegetables in North America, Central America, South America, Europe, the Middle East, Africa, Asia, and internationally.

Brickability Group

Market Cap: UK£174.0m

Distributes specialist products and services to the construction industry in the United Kingdom.It operates through four segments: Bricks and Building Materials; Importing; Distribution; and Contracting.

MiMedx Group

Market Cap: US$1.1b

Develops and distributes placental tissue allografts for various sectors of healthcare.

Amerant Bancorp

Market Cap: US$854.3m

Operates as the bank holding company for Amerant Bank, N.A.

Spin Master

Market Cap: CA$2.1b

A children’s entertainment company, engages in the creation, design, manufacture, licensing, and marketing of various toys, entertainment products, and digital games in North America, Europe, and internationally.

Vital Farms

Market Cap: US$1.5b

A food company, packages, markets, and distributes shell eggs, butter, and other products in the United States.

Nicolet Bankshares

Market Cap: US$1.9b

Operates as the bank holding company for Nicolet National Bank that provides banking products and services for businesses and individuals in Wisconsin, Michigan, and Minnesota.

InfuSystem Holdings

Market Cap: US$189.5m

Through its subsidiaries, provides infusion pumps and related products and services in the United States and Canada.

Investar Holding

Market Cap: US$269.9m

Operates as the bank holding company for Investar Bank that provides a range of commercial banking products to individuals, professionals, and small to medium-sized businesses in south Louisiana, southeast Texas, and Alabama in the United States.

DIP

Market Cap: JP¥112.4b

Engages in the human resources service business in Japan.

Pantoro Gold

Market Cap: AU$1.9b

Engages in the gold mining, processing, and exploration activities in Western Australia.

Develop Global

Market Cap: AU$1.4b

Engages in the exploration and development of mineral resource properties in Australia.

Sunonwealth Electric Machine Industry

Market Cap: NT$41.3b

Manufactures and sells precision motors and thermal solutions worldwide.