Global Undervalued Small Caps

Cheerwin Group

Market Cap: HK$3.3b

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.

Assetwise

Market Cap: ฿5.4b

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

Hu Lane Associate

Market Cap: NT$15.2b

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

Security Bank

Market Cap: ₱51.2b

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

SILICON2

Market Cap: ₩2.6t

Engages in the distribution of cosmetics products worldwide.

Future

Market Cap: JP¥176.2b

Provides IT consulting and services primarily in Japan.

Inspur Digital Enterprise Technology

Market Cap: HK$7.1b

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.

Altea Green Power

Market Cap: €148.1m

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

Kaufman & Broad

Market Cap: €591.3m

Operates as a property developer and builder in France.

Grupa Pracuj

Market Cap: zł3.5b

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

Thryv Holdings

Market Cap: US$233.6m

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

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$2.9b

Operates as a construction company in Brazil.

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.

Aurelia Metals

Market Cap: AU$482.4m

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

Zevra Therapeutics

Market Cap: US$507.8m

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

Krsnaa Diagnostics

Market Cap: ₹22.7b

Provides diagnostic services in India.

Afentra

Market Cap: UK£101.8m

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

Italian Exhibition Group

Market Cap: €277.4m

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

British American Tobacco Bangladesh

Market Cap: ৳138.2b

Manufactures and sells cigarettes in Bangladesh.

Telecom Plus

Market Cap: UK£1.1b

Provides utility services in the United Kingdom.

Hacksaw

Market Cap: SEK 16.8b

Operates as a B2B technology platform and game development company in Sweden and Czech Republic.

Grupo SBF

Market Cap: R$2.8b

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

Aviat Networks

Market Cap: US$283.5m

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$397.7m

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.

Eternal Beauty Holdings

Market Cap: HK$2.9b

An investment holding company, engages in the retail, wholesale, and distribution of perfumes, skincare products, color cosmetics, personal care products, eyewear, and home fragrances in China, including Hong Kong and Macau.

Hugel

Market Cap: ₩2.6t

Develops and manufactures biopharmaceuticals in South Korea and internationally.

ASROCK Incorporation

Market Cap: NT$28.9b

Designs, develops, and sells motherboards in Asia, Europe, America, and internationally.

Xiaocaiyuan International Holding

Market Cap: HK$9.9b

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

Tracsis

Market Cap: UK£89.3m

Engages in the provision of software, hardware, data analytics and geographic information systems, and services in the United Kingdom, Ireland, rest of Europe, Europe, North America, and internationally.

Auto Partner

Market Cap: zł2.4b

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

Rank Group

Market Cap: UK£458.5m

Engages in provision of gaming services in the United Kingdom, Europe, and internationally.

Unidata

Market Cap: €96.4m

Operates as an Internet service provider in Italy.

Binh Duong Water - Environment Corporation -

Market Cap: ₫10.3t

Engages in the production and supply of treated water; and the waste treatment and waste-water treatment activities in Vietnam.

YouYou Foods

Market Cap: CN¥5.6b

Provides food products in China.

CAB Cakaran Corporation Berhad

Market Cap: RM 419.6m

Produces and sells food products in Malaysia, Singapore, Hong Kong, Japan, Brunei, Myanmar, and internationally.