Global Capital Goods Healthy potentially undervalued

Sinoma International EngineeringLtd

Market Cap: CN¥20.6b

Operates in the cement technology equipment and engineering services industry in China and internationally.

Guangdong Mingyang ElectricLtd

Market Cap: CN¥12.4b

Engages in the research, development, production, and sale of power transmission, distribution, and control equipment in China and internationally.

Jinlei Technology

Market Cap: CN¥6.7b

Engages in the research, development, manufacture, machining, and sale of wind turbine main shafts, and various castings and forgings in China and internationally.

Ningbo Sanxing Medical ElectricLtd

Market Cap: CN¥22.0b

Manufactures and sells power distribution in China and internationally.

Ningbo Orient Wires & CablesLtd

Market Cap: CN¥31.9b

Engages in the research, development, manufacturing, and sale of various submarine and terrestrial cable products in China and internationally.

Douglas Dynamics

Market Cap: US$984.5m

Operates as a manufacturer and upfitter of commercial vehicle attachments and equipment in North America.

Cadeler

Market Cap: NOK 21.5b

Operates as an offshore wind installation vessel contractor in Denmark, the United Kingdom, Germany, Poland, rest of Europe, the United States, and Taiwan.

DEME Group

Market Cap: €4.2b

Provides marine solutions in Belgium, Europe, Africa, the United States, Asia, and the Middle East.

Blue Bird

Market Cap: US$2.1b

Designs, engineers, manufactures, and sells school buses in the United States, Canada, and internationally.

Bouygues

Market Cap: €18.3b

Operates in the construction, energies and services, telecom, and media sectors in France and internationally.

Limbach Holdings

Market Cap: US$552.5m

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

Eiffage

Market Cap: €11.6b

Engages in the construction and concessions businesses in France, Germany, Europe, and internationally.

L3Harris Technologies

Market Cap: US$54.0b

Provides mission-critical solutions for government and commercial customers worldwide.

Nitto Boseki

Market Cap: JP¥512.4b

Manufactures, processes, and sells glass fiber, chemical and pharmaceutical, and textile products in Japan.

Kumagai GumiLtd

Market Cap: JP¥219.4b

Operates as a construction company in Japan and internationally.

Binastra Corporation Berhad

Market Cap: RM 2.3b

An investment holding company, engages in general contractor and property developer, building and civil engineering works in turnkey projects in Malaysia.

Windey Energy Technology Group

Market Cap: CN¥9.7b

Researches, develops, manufactures, and sells wind turbines in China.

Titan International

Market Cap: US$457.0m

Manufactures and sells wheels, tires, and undercarriage systems and components for off-highway industry in North America, Europe, CIS, Latin America, Asia, and internationally.

SOLV Energy

Market Cap: US$6.0b

Provides infrastructure services to the power industry in the United States.

Contemporary Amperex Technology

Market Cap: CN¥1.8t

Engages in the research, development, production, and sale of electric vehicle and energy storage system batteries in China and internationally.

EMCOR Group

Market Cap: US$35.7b

Provides electrical and mechanical construction and facilities, building, and industrial services in the United States and the United Kingdom.

Zhuzhou CRRC Times Electric

Market Cap: HK$66.7b

Engages in the provision of propulsion and control systems in Mainland China and internationally.

Dajin Heavy IndustryLtd

Market Cap: CN¥29.7b

Manufactures and sells wind and photovoltaic power generation equipment in China and internationally.

Beijing New Building Materials

Market Cap: CN¥31.5b

Manufactures and sells building materials in China.

SNT Energy

Market Cap: ₩565.2b

Operates in the machinery industry.

XJ Electric

Market Cap: CN¥22.9b

Provides energy and power and technology equipment in China and internationally.

AECOM

Market Cap: US$9.4b

Provides professional infrastructure consulting services for governments, businesses, and organizations internationally.

INDUS Holding

Market Cap: €754.3m

A private equity firm specializing in growth capital mergers and acquisitions and corporate spin-offs.

Symal Group

Market Cap: AU$636.1m

Provides construction contracting, equipment hires, material sales, recycling, and remediation services to the civil construction industry in Australia.

XCMG Construction Machinery

Market Cap: CN¥95.1b

Engages in the manufacturing and sale of construction machinery in China.

Sany Heavy IndustryLtd

Market Cap: CN¥172.3b

Engages in the research and development, manufacture, and sale of construction machinery in Chinese mainland and internationally.

J. Kumar Infraprojects

Market Cap: ₹37.7b

Engages in the construction business in India.

AGCO

Market Cap: US$7.1b

Manufactures and distributes agricultural equipment and replacement parts worldwide.

Zehnder Group

Market Cap: CHF 774.4m

Develops, manufactures, and sells indoor climate systems in Europe, North America, and China.

HD Korea Shipbuilding & Offshore Engineering

Market Cap: ₩28.1t

HD Korea Shipbuilding & Offshore Engineering Co., Ltd.

Obayashi

Market Cap: JP¥2.1t

Engages in the construction business in Japan, North America, Asia and internationally.