Global Undervalued Small Caps

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.

Security Bank

Market Cap: ₱50.5b

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

Assetwise

Market Cap: ฿5.4b

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

Inspur Digital Enterprise Technology

Market Cap: HK$7.9b

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.

Guangdong Mingyang ElectricLtd

Market Cap: CN¥13.1b

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

HD Hyundai Construction Equipment

Market Cap: ₩1.7t

HD Hyundai Construction Equipment Co.,Ltd.

Austriacard Holdings

Market Cap: €215.4m

Operates as a technology company in the fields of people, authentication of object, and information management in Western Europe, Nordics, the Americas, Central and Eastern Europe, Germany, Austria, Switzerland, Türkiye, the Middle East, and Africa.

Altea Green Power

Market Cap: €119.3m

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

Austevoll Seafood

Market Cap: NOK 18.6b

A seafood company, produces and sells salmon and trout, whitefish, and pelagic in Norway, the European Union, the United Kingdom, Eastern Europe, Africa, North America, Asia, and South America.

Gamma Communications

Market Cap: UK£836.9m

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

Converge Information and Communications Technology Solutions

Market Cap: ₱108.9b

Converge Information and Communications Technology Solutions, Inc.

SILICON2

Market Cap: ₩2.5t

Engages in the distribution of cosmetics products worldwide.

Kaufman & Broad

Market Cap: €586.4m

Operates as a property developer and builder in France.

CellaVision

Market Cap: SEK 3.7b

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

Thryv Holdings

Market Cap: US$263.2m

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

Construtora Tenda

Market Cap: R$2.9b

Operates as a construction company in Brazil.

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.

Zevra Therapeutics

Market Cap: US$456.6m

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

Firan Technology Group

Market Cap: CA$289.7m

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

Aurelia Metals

Market Cap: AU$397.8m

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

KH Neochem

Market Cap: JP¥86.5b

Researches, manufactures, and sells of petrochemical products in Japan and internationally.

British American Tobacco Bangladesh

Market Cap: ৳133.4b

Manufactures and sells cigarettes in Bangladesh.

Visco Vision

Market Cap: NT$11.0b

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

Heidelberger Druckmaschinen

Market Cap: €610.2m

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.

Italian Exhibition Group

Market Cap: €258.4m

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

Voxel

Market Cap: zł1.3b

Provides medical services in Poland.

Telecom Plus

Market Cap: UK£1.1b

Provides utility services in the United Kingdom.

Afentra

Market Cap: UK£85.5m

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.

Aviat Networks

Market Cap: US$268.2m

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

Serabi Gold

Market Cap: UK£208.3m

Engages in the evaluation, exploration, and development of gold and other metals mining projects in Brazil.

Byrna Technologies

Market Cap: US$397.0m

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.

J.Jill

Market Cap: US$224.8m

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

Sinocare

Market Cap: CN¥9.9b

Engages in the development, manufacture, and marketing of rapid diagnosis testing products primarily in the People’s Republic of China.

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.