Global Undervalued Small Caps

Heidelberger Druckmaschinen

Market Cap: €564.8m

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.

Integrated Diagnostics Holdings

Market Cap: US$370.6m

Operates as a consumer healthcare company that provides medical diagnostics services to patients.

Endava

Market Cap: US$339.8m

Provides technology services in North America, Europe, the United Kingdom, and internationally.

Serabi Gold

Market Cap: UK£265.1m

Engages in the evaluation, exploration, and development of gold and other metals mining projects in Brazil.

Orezone Gold

Market Cap: CA$1.4b

Engages in the mining, exploration, and development of gold properties.

AltynGold

Market Cap: UK£446.9m

Engages in the exploration and development of gold producing mine in the Republic of Kazakhstan.

Pennar Industries

Market Cap: ₹21.8b

Operates as an engineering company in India and internationally.

Korea Petrochemical Ind

Market Cap: ₩971.3b

Engages in the production and supply of petrochemicals in Korea and internationally.

i-Scream Media

Market Cap: ₩191.2b

Operates as a digital education content company in South Korea and internationally.

Hecto Innovation

Market Cap: ₩189.9b

Operates as an IT platform company in the field of information security primarily in Korea.

Sinocare

Market Cap: CN¥10.2b

Engages in the development, manufacture, and marketing of rapid diagnosis testing products primarily in the People’s Republic of China.

Anhui Ronds Science & Technology

Market Cap: CN¥4.9b

Provides solutions for machinery condition monitoring in the predictive maintenance field in China.

Zee Entertainment Enterprises

Market Cap: ₹78.3b

Engages in broadcasting satellite television channels and digital media in India and internationally.

PR TIMES

Market Cap: JP¥36.0b

Operates PR TIMES platform that connects companies, media, and consumer with news in Japan.

Sichuan Guoguang Agrochemical

Market Cap: CN¥6.3b

Engages in the research and development, manufacture, marketing, and distribution of agrochemical products and materials in China and internationally.

KoMiCo

Market Cap: ₩992.0b

Provides semiconductor equipment cleaning and coating products in South Korea, the United States, China, Taiwan, and Singapore.

Stanmore Resources

Market Cap: AU$2.7b

Engages in the exploration, development, production, and sale of metallurgical coal in Australia.

Essex Bio-Technology

Market Cap: HK$2.4b

An investment holding company, develops, manufactures, and sells biologic drugs in China, Hong Kong, and internationally.

IOL Chemicals and Pharmaceuticals

Market Cap: ₹20.7b

Manufactures and sells pharmaceutical and chemical products in India and internationally.

Thai Credit Bank

Market Cap: ฿18.6b

Provides financial services to micro, small, and medium-sized enterprises in Thailand.

Japan Eyewear Holdings

Market Cap: JP¥48.2b

Through its subsidiaries, engages in the designing, manufacturing, and selling eyeglasses in Japan.

Zhejiang Cayi Vacuum Container

Market Cap: CN¥7.5b

Engages in the research, development, design, production, and sale of beverage and food containers of various materials in China and internationally.

Zhejiang Natural Outdoor Goods

Market Cap: CN¥3.6b

Engages in the research, design, development, production, and sale of outdoor sports products in China and internationally.

Neuren Pharmaceuticals

Market Cap: AU$2.3b

A biopharmaceutical company, develops drugs for the treatment of neurological disorders.

Dat Xanh Group

Market Cap: ₫15.5t

Engages in the real estate business in Vietnam.

Thai Union Feedmill

Market Cap: ฿6.2b

Manufactures and distributes animal feeds in Thailand, Sri Lanka, Pakistan, Indonesia, and internationally.

LITALICO

Market Cap: JP¥45.4b

Engages in the employment support, child welfare, platform, and overseas business in Japan.

J Trust

Market Cap: JP¥64.7b

Engages in the provision of various financial services in Japan.

S H Kelkar

Market Cap: ₹20.1b

Manufactures and supplies fragrances, flavors, and aroma ingredients in India.

JINS HOLDINGS

Market Cap: JP¥116.1b

Through its subsidiaries, engages in the planning, manufacturing, sales, and import/export of eyewear in Japan and internationally.

Anton Oilfield Services Group

Market Cap: HK$2.5b

An investment holding company, operates as an integrated oilfield technology services company in the People’s Republic of China, Iraq, and internationally.

Séché Environnement

Market Cap: €595.6m

Engages in the management, recovery, and treatment of waste products for industrial and corporate customers, and local authorities in France and internationally.

Nishio Holdings

Market Cap: JP¥131.7b

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

SERAKU

Market Cap: JP¥22.0b

Operates as internet system integrator in Japan.

GreensLtd

Market Cap: JP¥29.5b

Operates a chain of hotels in Japan.

HMS Bergbau

Market Cap: €210.8m

Engages in trading and distributing coal and other energy raw materials to energy producers, cement manufacturers, and industrial consumers worldwide.