Global Undervalued Small Caps

Inspur Digital Enterprise Technology

Market Cap: HK$8.5b

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.

Hu Lane Associate

Market Cap: NT$15.1b

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

HD Hyundai Construction Equipment

Market Cap: ₩1.6t

HD Hyundai Construction Equipment Co.,Ltd.

Security Bank

Market Cap: ₱50.5b

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.

Altea Green Power

Market Cap: €127.8m

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

Grupa Pracuj

Market Cap: zł3.3b

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

Gamma Communications

Market Cap: UK£837.8m

Provides technology-based communications and software services to small, medium, and large-sized organizations in the United Kingdom, rest of Europe, and internationally.

CellaVision

Market Cap: SEK 3.6b

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

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.

Thryv Holdings

Market Cap: US$247.1m

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

Future

Market Cap: JP¥175.8b

Provides IT consulting and services primarily in Japan.

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.

Guangdong Mingyang ElectricLtd

Market Cap: CN¥13.0b

Engages in the research, development, production, and sale of high/low voltage switchgear, transformer, and power transmission and distribution equipment in China.

Converge Information and Communications Technology Solutions

Market Cap: ₱112.1b

Converge Information and Communications Technology Solutions, Inc.

Aurelia Metals

Market Cap: AU$431.6m

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

Cheerwin Group

Market Cap: HK$3.0b

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.

Construtora Tenda

Market Cap: R$2.8b

Operates as a construction company in Brazil.

Tennant

Market Cap: US$1.3b

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

Kaufman & Broad

Market Cap: €578.6m

Operates as a property developer and builder in France.

Firan Technology Group

Market Cap: CA$292.3m

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

Assetwise

Market Cap: ฿5.4b

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

Visco Vision

Market Cap: NT$11.0b

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.

Heidelberger Druckmaschinen

Market Cap: €623.9m

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.

Voxel

Market Cap: zł1.3b

Provides medical services in Poland.

Consun Pharmaceutical Group

Market Cap: HK$13.1b

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

Italian Exhibition Group

Market Cap: €267.0m

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

Afentra

Market Cap: UK£95.0m

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

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$208.4m

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

Byrna Technologies

Market Cap: US$380.0m

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.

Telecom Plus

Market Cap: UK£1.1b

Provides utility services in the United Kingdom.

Aviat Networks

Market Cap: US$277.3m

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

Hugel

Market Cap: ₩2.5t

Develops and manufactures biopharmaceuticals in South Korea and internationally.

Unidata

Market Cap: €92.1m

Operates as an Internet service provider in Italy.