Global Undervalued Small Caps

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.

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.

Future

Market Cap: JP¥177.1b

Provides IT consulting and services primarily in Japan.

Kaufman & Broad

Market Cap: €588.4m

Operates as a property developer and builder in France.

CellaVision

Market Cap: SEK 3.6b

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

Construtora Tenda

Market Cap: R$3.1b

Operates as a construction company in Brazil.

Altea Green Power

Market Cap: €129.1m

Supplies and manages renewable energy plants in Italy and 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.

Grupa Pracuj

Market Cap: zł3.4b

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

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.

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.

Afentra

Market Cap: UK£93.2m

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

Italian Exhibition Group

Market Cap: €263.9m

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

Telecom Plus

Market Cap: UK£1.1b

Provides utility services in the United Kingdom.

J.Jill

Market Cap: US$209.3m

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

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.

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.

ASROCK Incorporation

Market Cap: NT$29.9b

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

Dentium

Market Cap: ₩415.2b

Manufactures and sells dental medical instrument worldwide.

Eternal Beauty Holdings

Market Cap: HK$2.8b

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.

Unidata

Market Cap: €94.2m

Operates as an Internet service provider in Italy.

Rank Group

Market Cap: UK£464.6m

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