Global Undervalued Small Caps

FDC International Hotels

Market Cap: NT$4.4b

Operates and manages international tourist hotels in Taiwan.

CURVES HOLDINGS

Market Cap: JP¥69.6b

Engages in the operation and management of fitness club for women under the Curves brand name in Japan and internationally.

DigiPlus Interactive

Market Cap: ₱66.7b

Through its subsidiaries, operates as a digital entertainment company in the Philippines.

Deleum Berhad

Market Cap: RM 510.0m

An investment holding company, provides products and services to the oil and gas industries primarily in Malaysia.

Tonymoly

Market Cap: ₩211.3b

Engages in the manufacturing, selling, and franchising cosmetics in South Korea and internationally.

KG Mobilians

Market Cap: ₩171.6b

Provides electronic payment services.

NORINCO International Cooperation

Market Cap: CN¥13.9b

Engages in the engineering construction and services, resources and equipment supply chain, power operations, and industrial manufacturing businesses in China and internationally.

SuzukiLtd

Market Cap: JP¥35.2b

Manufactures and sells connectors for car electronics parts in Japan.

Shenzhen Newway Photomask Making

Market Cap: CN¥11.0b

A lithography company, engages in the design, development, and production of mask products in China.

Shanghai Fengyuzhu Culture Technology

Market Cap: CN¥5.8b

Shanghai Fengyuzhu Culture Technology Co., Ltd.

Cogstate

Market Cap: AU$386.0m

A neuroscience solutions company, engages in the creation, validation, and commercialization of digital brain health assessments worldwide.

Xinjiang Qingsong Building Materials and Chemicals Group

Market Cap: CN¥7.3b

Xinjiang Qingsong Building Materials and Chemicals Group Co., Ltd.

Jiangsu Tongxingbao Intelligent Transportation Technology

Market Cap: CN¥9.0b

Provides smart transportation platform solutions for highways, trunk roads, and urban transportation in China.

Almawarid Manpower

Market Cap: ر.س2.0b

Provides recruitment services for domestic workers, expatriate labor services, and operates temporary employment agency for domestic services in the Kingdom of Saudi Arabia.

Tubacex

Market Cap: €413.3m

Engages in the manufacturing and sale of stainless steel and nickel tubes in Spain and internationally.

Pharming Group

Market Cap: €1.2b

A biopharmaceutical company, develops and commercializes protein replacement therapies and precision medicines for the treatment of rare diseases in the United States, Europe, and internationally.

BFF Bank

Market Cap: €1.6b

Engages in non-recourse factoring and credit management activities towards public administration bodies and private hospitals in Italy, Croatia, the Czech Republic, France, Greece, Poland, Portugal, Slovakia, and Spain.

Bouvet

Market Cap: NOK 6.0b

Provides IT and digital communication consultancy services for public and private sectors in Norway, Sweden, and internationally.

Dom Development

Market Cap: zł6.9b

Engages in the development and sale of residential and commercial real estate properties, and related support activities in Poland.

Medios

Market Cap: €391.3m

Supplies specialty pharmaceutical drugs primarily in Germany.

Ülker Bisküvi Sanayi

Market Cap: ₺47.6b

Manufactures, markets, and sells biscuits, chocolates, chocolate coated biscuits, wafers, and cakes in Turkey and internationally.

Sword Group

Market Cap: €370.4m

Provides IT and software solutions.

LSI Industries

Market Cap: US$612.0m

Manufactures, markets, and sells non-residential lighting and retail display solutions in the United States.

Dexterra Group

Market Cap: CA$809.5m

Engages in the provision of support services for the creation, management, and operation of infrastructure in Canada.

HBT Financial

Market Cap: US$891.4m

Operates as the bank holding company for Heartland Bank and Trust Company that provides financial products and services to consumers, businesses, and municipal entities in Illinois and Eastern Iowa.

Betsson

Market Cap: SEK 14.4b

Through its subsidiaries, invests in and manages online gaming business in the Nordic countries, Latin America, Western Europe, Central and Eastern Europe, Central Asia, and internationally.

Pollard Banknote

Market Cap: CA$531.9m

Manufactures and sells lottery and charitable gaming products and solutions in the United States, Canada, and internationally.

Tiong Woon Corporation Holding

Market Cap: S$220.2m

An investment holding company, provides integrated services for the oil and gas, petrochemical, infrastructure, and construction sectors.

Asia CementLtd

Market Cap: ₩426.5b

Engages in the manufacture and sale of cement and ready-mixed concrete in South Korea.

Imperial Petroleum

Market Cap: US$161.2m

Provides seaborne transportation services worldwide.

Duk San NeoluxLtd

Market Cap: ₩884.3b

Develops and manufactures OLED materials for display industry in South Korea.

GREEN CROSS WellBeing

Market Cap: ₩161.5b

Provides personalized nutrition injections in South Korea.

Aeris Resources

Market Cap: AU$712.5m

Explores, produces, and sells precious metals in Australia.

Sunstone Development

Market Cap: CN¥13.1b

Engages in the research and development, production, and sales of prebaked carbon anodes for the aluminum industry in China and internationally.

Round One

Market Cap: JP¥291.1b

Operates indoor leisure complex facilities.

Aisan Industry

Market Cap: JP¥129.5b

Engages in the manufacture and sale of automotive parts in Japan and internationally.