Global Undervalued Small Caps

Inspur Digital Enterprise Technology

Market Cap: HK$3.6b

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.

Indegene

Market Cap: ₹101.6b

Operates as a digital-first life sciences commercialization company in India, the United States, Europe, and internationally.

Vikram Solar

Market Cap: ₹68.8b

Manufactures and sells solar photovoltaic modules/systems in India and internationally.

Cheerwin Group

Market Cap: HK$2.9b

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.

Duc Giang Chemicals Group

Market Cap: ₫19.6t

Manufactures industrial products in Vietnam.

Security Bank

Market Cap: ₱49.1b

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

Future

Market Cap: JP¥140.3b

Provides IT consulting and services primarily in Japan.

NSL Foods

Market Cap: ฿6.5b

Engages in the manufacture and distribution of bakery and snack products in Thailand.

SILICON2

Market Cap: ₩2.3t

Engages in the distribution of cosmetics products worldwide.

Aux Electric

Market Cap: HK$15.2b

Engages in the manufacturing, sales, and marketing of air conditioners.

Altea Green Power

Market Cap: €116.7m

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

Bilia

Market Cap: SEK 11.1b

Operates as a full-service supplier for car ownership in Sweden, Norway, Luxemburg, and Belgium.

Grupa Pracuj

Market Cap: zł2.6b

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

FRP Advisory Group

Market Cap: UK£250.1m

Provides business advisory services to companies, lenders, investors, individuals, and other stakeholders in the United Kingdom.

Orion Group Holdings

Market Cap: US$416.5m

Operates as a specialty construction company for the infrastructure, industrial, and building sectors in the United States, Canada, and the Caribbean Basin.

Quartix Technologies

Market Cap: UK£107.5m

Engages in the design, development, marketing, and delivery of vehicle telematics services in the United Kingdom, France, the United States, and other European Territories.

Embla Medical hf

Market Cap: DKK 11.5b

Provides non-invasive orthopedic products in Europe, the Middle East, Africa, the Americas, and the Asia-Pacific.

LiveRamp Holdings

Market Cap: US$1.7b

A technology company, operates a data collaboration platform in the United States, Europe, the Asia-Pacific, and internationally.

FirstSun Capital Bancorp

Market Cap: US$991.6m

Operates as the bank holding company for Sunflower Bank, National Association that provides commercial and consumer banking and financial services to small and medium-sized companies in the United States.

Zevra Therapeutics

Market Cap: US$541.9m

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

Tristel

Market Cap: UK£177.3m

Develops, manufactures, and sells infection prevention products in the United Kingdom, Australia, Germany, Western Europe, and internationally.

Trisul

Market Cap: R$1.3b

Engages in the construction and development of real estate properties in Brazil.

Lavvi Empreendimentos Imobiliários

Market Cap: R$2.8b

Develops and builds residential and non-residential properties primarily in Brazil.

United Electronics

Market Cap: ر.س5.9b

Engages in the wholesale and retail trade of electric appliances, electronic gadgets, computers and their spare parts and accessories, furniture, and office equipment and tools in the Kingdom of Saudi Arabia and internationally.

Lifedrink Company

Market Cap: JP¥52.5b

Manufactures and sells soft drinks in Japan.

China Resources Boya Bio-pharmaceutical GroupLtd

Market Cap: CN¥9.3b

Engages in the blood product businesses in China.

North East Rubber

Market Cap: ฿8.7b

Manufactures and sells rubber products in Thailand.

Precision Tsugami (China)

Market Cap: HK$12.0b

An investment holding company, manufactures and sells computer numerical control machine tools primarily in Mainland China.

Mega Lifesciences

Market Cap: ฿27.5b

Manufactures and sells health food supplements, prescription pharmaceutical products, over-the-counter products, herbal products, vitamins, and fast-moving consumer goods.

Palfinger

Market Cap: €1.3b

Provides hydraulic lifting solutions in Austria and internationally.

Telecom Plus

Market Cap: UK£1.0b

Provides utility services in the United Kingdom.

Flotek Industries

Market Cap: US$580.2m

Operates as a chemical and data analytics company in the United States, the United Arab Emirates, and internationally.

Gibraltar Industries

Market Cap: US$1.1b

Manufactures and provides products and services for the residential, agtech, and infrastructure markets in the United States and internationally.

Village Farms International

Market Cap: US$292.4m

Produces, markets, and distributes greenhouse grown tomatoes, bell peppers, and cucumbers in North America.

Ependion

Market Cap: SEK 3.0b

Provides digital solutions for secure control, management, visualization, and data communication for industrial applications.

Nagarro

Market Cap: €611.7m

Provides digital product engineering and technology solutions in Germany, the United States of America, and internationally.