Global Undervalued Small Caps

CellaVision

Market Cap: SEK 3.6b

Develops and sells instruments, software, and reagents for blood and body fluids analysis in Sweden and internationally.

Grupa Pracuj

Market Cap: zł3.4b

Operates HR technology platform in Poland, Ukraine, and Germany.

Thryv Holdings

Market Cap: US$253.2m

Provides digital marketing solutions and cloud-based tools to the small-to-medium-sized businesses in the United States.

Tennant

Market Cap: US$1.4b

Designs, manufactures, and markets floor cleaning equipment in the Americas, Europe, the Middle East, Africa, and the Asia Pacific.

Zevra Therapeutics

Market Cap: US$469.5m

A commercial-stage company, focuses on addressing unmet needs for the treatment of rare diseases in the United States.

Firan Technology Group

Market Cap: CA$290.5m

Manufactures and sells aerospace and defense electronic products and subsystems in Canada, the United States, and China.

Iochpe-Maxion

Market Cap: R$1.5b

Produces and sells automotive wheels and structural components for commercial and light vehicles in North America, South America, Europe, Asia, and internationally.

Construtora Tenda

Market Cap: R$3.1b

Operates as a construction company in Brazil.

Cheerwin Group

Market Cap: HK$3.1b

An investment holding company, manufactures and trades household insecticides and repellents, household cleaning, air care, personal care, pet stores and pet products, and other products in the People’s Republic of China.

Inspur Digital Enterprise Technology

Market Cap: HK$8.3b

An investment holding company, engages in management software development, cloud services, and sale of Internet of Things (IoT) solutions in the People’s Republic of China.

Security Bank

Market Cap: ₱50.8b

Provides banking and financial products and services to wholesale and retail clients in the Philippines.

SILICON2

Market Cap: ₩2.5t

Engages in the distribution of cosmetics products worldwide.

Assetwise

Market Cap: ฿5.4b

Engages in property development and other real estate activities in Thailand.

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.

Aurelia Metals

Market Cap: AU$465.5m

Engages in the exploration and production of mineral properties in Australia.

Future

Market Cap: JP¥177.1b

Provides IT consulting and services primarily in Japan.

Hu Lane Associate

Market Cap: NT$14.8b

Engages in manufacture and sale of terminal devices, terminal crimping, industrial rubber, and plastic products in Taiwan.

Kaufman & Broad

Market Cap: €580.5m

Operates as a property developer and builder in France.

Altea Green Power

Market Cap: €128.2m

Supplies and manages renewable energy plants in Italy and the United States.

Voxel

Market Cap: zł1.4b

Provides medical services in Poland.

Grupo SBF

Market Cap: R$2.7b

Grupo SBF S.A. retails and wholesales sports and leisure products in Brazil.

J.Jill

Market Cap: US$209.3m

Operates as an omnichannel retailer for women’s apparel in the United States.

Aviat Networks

Market Cap: US$285.0m

Provides microwave networking and wireless access networking solutions in North America, Africa, the Middle East, Europe, Latin America, and the Asia Pacific.

Byrna Technologies

Market Cap: US$394.3m

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.

Visco Vision

Market Cap: NT$11.1b

Manufactures and sells silicone hydrogel contact lenses in Asia, Europe, and the Americas.

British American Tobacco Bangladesh

Market Cap: ৳135.0b

Manufactures and sells cigarettes in Bangladesh.

Consun Pharmaceutical Group

Market Cap: HK$13.0b

Researches and develops, manufactures, and sells Chinese medicines and medical contrast medium products in the People’s Republic of China.

Leejam Sports

Market Cap: ر.س5.1b

Operates sports and fitness centers in the Kingdom of Saudi Arabia and the United Arab Emirates.

Italian Exhibition Group

Market Cap: €265.7m

Italian Exhibition Group S.p.A. organizes and operates exhibitions Italy and internationally.

Afentra

Market Cap: UK£93.0m

Operates as an upstream oil and gas company primarily in Africa.

Telecom Plus

Market Cap: UK£1.1b

Provides utility services in the United Kingdom.

Auto Partner

Market Cap: zł2.3b

Imports and distributes parts for passenger cars, delivery vans, and motorcycles in Poland.

AdaptHealth

Market Cap: US$1.3b

Distributes home medical equipment (HME), medical supplies, and home and related services in the United States.

Northpointe Bancshares

Market Cap: US$589.7m

Operates as the bank holding company for Northpointe Bank provides various banking products and services in the United States.

Hugel

Market Cap: ₩2.5t

Develops and manufactures biopharmaceuticals in South Korea and internationally.

Xiaocaiyuan International Holding

Market Cap: HK$10.4b

An investment holding company, engages in the restaurant business in the People’s Republic of China.