Global Undervalued Small Caps

SILICON2

Market Cap: ₩2.8t

Engages in the distribution of cosmetics products worldwide.

Hu Lane Associate

Market Cap: NT$15.7b

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

Apeejay Surrendra Park Hotels

Market Cap: ₹32.2b

Owns and operates hotels in India.

Inspur Digital Enterprise Technology

Market Cap: HK$9.1b

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.

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.

Converge Information and Communications Technology Solutions

Market Cap: ₱92.4b

Converge Information and Communications Technology Solutions, Inc.

Security Bank

Market Cap: ₱52.4b

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

KH Neochem

Market Cap: JP¥96.6b

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

Assetwise

Market Cap: ฿5.6b

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

Aurelia Metals

Market Cap: AU$414.7m

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

Firan Technology Group

Market Cap: CA$274.4m

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

Austriacard Holdings

Market Cap: €175.5m

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: €117.8m

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

Gamma Communications

Market Cap: UK£915.2m

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

FirstSun Capital Bancorp

Market Cap: US$933.7m

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 Texas, Kansas, Colorado, New Mexico, Arizona, California, and Washington.

Limbach Holdings

Market Cap: US$1.1b

Operates as a building systems solution company in the United States.

Metropolitan Bank Holding

Market Cap: US$691.9m

Operates as the bank holding company for Metropolitan Commercial Bank that provides a range of business, commercial, and retail banking products and services.

Kaufman & Broad

Market Cap: €572.7m

Operates as a property developer and builder in France.

AKVA group

Market Cap: NOK 3.3b

Designs, purchases, manufactures, assembles, sells, and installs technology products; and provides rental and consulting services for the aquaculture industry.

PORR

Market Cap: €1.1b

Operates as a construction company in Austria, Germany, Poland, the Czech Republic, Italy, Romania, Switzerland, Serbia, Great Britain, Slovakia, Norway, Belgium, and internationally.

CorMedix

Market Cap: US$886.1m

A biopharmaceutical company, focuses on developing and commercializing therapeutic products for life-threatening diseases and conditions in the United States.

Consun Pharmaceutical Group

Market Cap: HK$12.7b

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

Krsnaa Diagnostics

Market Cap: ₹25.2b

Provides diagnostic services in India.

Accent Group

Market Cap: AU$769.5m

Engages in the retail, distribution, and franchise of lifestyle footwear, apparel, and accessories in Australia and New Zealand.

Nagarro

Market Cap: €608.9m

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

Legacy Education

Market Cap: US$113.6m

Provides education services to students, high school graduates, and working parents in the United States.

Byrna Technologies

Market Cap: US$449.1m

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.

Afentra

Market Cap: UK£102.7m

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

Cairn Homes

Market Cap: UK£1.1b

Operates as homebuilder in Ireland.

Mensch und Maschine Software

Market Cap: €693.5m

Provides computer aided design, manufacturing, and engineering, product data management, and building information modeling/management solutions in Germany, Austria, Switzerland, the United Kingdom, Italy, France, Hungary, and internationally.

Serabi Gold

Market Cap: UK£178.7m

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

National Bank Holdings

Market Cap: US$1.4b

Operates as the bank holding company for NBH Bank that provides various banking products and financial services to commercial, business, and consumer clients in the United States.

Plano & Plano Desenvolvimento Imobiliário

Market Cap: R$2.9b

Through its subsidiaries develops, constructs, and sells real estate projects in the São Paulo Metropolitan Region.

Palfinger

Market Cap: €1.2b

Produces and sells crane and lifting solutions in Austria and internationally.

R&S Group Holding

Market Cap: CHF 983.7m

Manufactures and supplies electrical infrastructure products the United Kingdom, Switzerland, Ireland, Italy, Poland, and the Middle East.

China State Construction Development Holdings

Market Cap: HK$2.7b

An investment holding company, engages in the general contracting business in Hong Kong and internationally.