Global Undervalued Small Caps

CLIO CosmeticsLtd

Market Cap: ₩255.9b

Provides makeup products in South Korea and internationally.

Guangdong Mingyang ElectricLtd

Market Cap: CN¥11.8b

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

Jinzai Food GroupLtd

Market Cap: CN¥5.7b

Engages in the research, development, production, and sale of snack foods in China.

Austevoll Seafood

Market Cap: NOK 19.7b

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.

Foxsemicon Integrated Technology

Market Cap: NT$32.1b

Engages in the research, development, design, manufacturing, and sale of semiconductor equipment subsystems and system integration in Taiwan, the United States, China, and internationally.

Hu Lane Associate

Market Cap: NT$16.1b

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

Security Bank

Market Cap: ₱53.9b

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

Austriacard Holdings

Market Cap: €205.4m

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.

ProCredit Holding

Market Cap: €558.4m

Provides commercial banking products and services for small and medium enterprises and private customers in Europe, South America, and Germany.

CellaVision

Market Cap: SEK 3.9b

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

Converge Information and Communications Technology Solutions

Market Cap: ₱108.1b

Converge Information and Communications Technology Solutions, Inc.

Hyosung TNC

Market Cap: ₩977.5b

Manufactures and sells fiber in South Korea and internationally.

KH Neochem

Market Cap: JP¥96.6b

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

Business First Bancshares

Market Cap: US$729.7m

Operates as the bank holding company for b1BANK that provides various banking products and services in Louisiana and Texas.

ADENTRA

Market Cap: CA$845.1m

Engages in the wholesale distribution of architectural building products to the residential, repair and remodel, and commercial construction markets in Canada and the United States.

Firan Technology Group

Market Cap: CA$315.9m

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

AEON Credit Service (M) Berhad

Market Cap: RM 2.6b

Provides consumer financial services in Malaysia.

TQM Alpha

Market Cap: ฿8.8b

Engages in the insurance brokerage business in Thailand.

Warpaint London

Market Cap: UK£250.4m

Produces and sells cosmetics.

RVRC Holding

Market Cap: SEK 4.9b

Engages in the e-commerce outdoor clothing business in Germany, Sweden, Finland, and internationally.

Flotek Industries

Market Cap: US$376.1m

Operates as a technology-driven green chemistry and data company that serves customers across industrial and commercial markets in the United States, the United Arab Emirates, and internationally.

Byrna Technologies

Market Cap: US$465.0m

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.

Nagarro

Market Cap: €646.4m

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

Granules India

Market Cap: ₹111.4b

Manufactures and sells active pharmaceutical ingredients (APIs), pharmaceutical formulation intermediates, and finished dosages (FDs) in India and internationally.

Hansae

Market Cap: ₩401.3b

Manufactures and sells finished clothing products in Vietnam, Indonesia, Nicaragua, Guatemala, Myanmar, and Haiti.

Australian Clinical Labs

Market Cap: AU$526.7m

Provides pathology diagnostic services in Australia.

Materials Analysis Technology

Market Cap: NT$12.6b

Engages in the research and development, and intellectual property services in Taiwan, Mainland China, Japan, the United States, and internationally.

Lindsay Australia

Market Cap: AU$280.1m

Provides integrated transport, logistics, and rural supply services to the food processing, food services, fresh produce, and horticulture sectors in Australia.

Yamaichi ElectronicsLtd

Market Cap: JP¥57.5b

Manufactures and sells test, connector, and optical-related products in Japan and internationally.

Truecaller

Market Cap: SEK 15.7b

Develops and publishes mobile caller ID applications for individuals and business in India, the Middle East, Africa, and internationally.

Journey Energy

Market Cap: CA$171.1m

Engages in the exploration, development, and production of crude oil and natural gas in the province of Alberta, Canada.

Bird Construction

Market Cap: CA$1.7b

Provides construction services in Canada.

AdaptHealth

Market Cap: US$1.3b

Distributes home medical equipment (HME), medical supplies, and home and related services in the United States.

Gambling.com Group

Market Cap: US$378.1m

Operates as a performance marketing company for the online gambling industry in North America, the United Kingdom, Ireland, rest of Europe, and internationally.

Devsisters

Market Cap: ₩478.1b

Engages in the development of mobile games in South Korea and internationally.

KCG Corporation

Market Cap: ฿4.7b

Manufactures, sells, and imports food and bakery products in Thailand and internationally.