Global Capital Goods Healthy potentially undervalued

Guangdong Mingyang ElectricLtd

Market Cap: CN¥11.6b

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

Ningbo Orient Wires & CablesLtd

Market Cap: CN¥32.9b

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

Ningbo Sanxing Medical ElectricLtd

Market Cap: CN¥19.5b

Manufactures and sells power distribution in China and internationally.

Hunan Yuneng New Energy Battery MaterialLtd

Market Cap: CN¥53.3b

Engages in the research, development, production, and sale of lithium-ion battery cathode materials in China and internationally.

Sinoma International EngineeringLtd

Market Cap: CN¥19.0b

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

Atmus Filtration Technologies

Market Cap: US$4.1b

Designs, manufactures, and sells filtration products under the Fleetguard brand in the United States and internationally.

Cadeler

Market Cap: NOK 21.2b

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

Bouygues

Market Cap: €18.0b

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

EuroGroup Laminations

Market Cap: €155.5m

Engages in the design, production, and distribution of motor cores for electric motors and generators.

Eiffage

Market Cap: €11.5b

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

DEME Group

Market Cap: €4.3b

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

Douglas Dynamics

Market Cap: US$996.9m

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

L3Harris Technologies

Market Cap: US$54.0b

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

China International Marine Containers (Group)

Market Cap: CN¥37.3b

Manufactures and sells logistics and energy equipment in China, America, Europe, Asia, and internationally.

Windey Energy Technology Group

Market Cap: CN¥8.9b

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

Contemporary Amperex Technology

Market Cap: CN¥1.6t

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

Neway Valve (Suzhou)

Market Cap: CN¥36.3b

Researches, develops, produces, and sells industrial valves in the People’s Republic of China and internationally.

Worthington Enterprises

Market Cap: US$2.6b

Operates as an industrial manufacturing company.

Pentair

Market Cap: US$12.1b

Provides various water solutions in the United States, Western Europe, China, Latin America, the Middle East, Southeast Asia, Australia, and Canada.

Grafton Group

Market Cap: UK£1.7b

Distributes and sells building materials and construction related products in Ireland, the United Kingdom, Ireland, the Netherlands, Finland, and Spain.

Titan International

Market Cap: US$461.5m

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

Allison Transmission Holdings

Market Cap: US$9.4b

Designs, manufactures, and sells fully automatic transmissions for medium- and heavy-duty commercial vehicles and medium- and heavy-tactical U.S.

Palfinger

Market Cap: €1.2b

Provides hydraulic lifting solutions in Austria and internationally.

Bodycote

Market Cap: UK£1.1b

Provides heat treatment and thermal processing services worldwide.

EMCOR Group

Market Cap: US$34.8b

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

SNT Energy

Market Cap: ₩517.7b

Operates in the machinery industry.

Dajin Heavy IndustryLtd

Market Cap: CN¥33.5b

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

Yizumi Holdings

Market Cap: CN¥9.5b

Engages in designs, researches and develops, manufactures, sells, and services of various molding machines in China and internationally.

Beijing New Building Materials

Market Cap: CN¥29.4b

Manufactures and sells building materials in China.

Zhuzhou CRRC Times Electric

Market Cap: HK$67.6b

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

Valmet Oyj

Market Cap: €3.9b

Develops and supplies process technologies, automation, and services for the pulp, paper, and energy industries in North America, Latin America, EMEA, China, and Asia-Pacific.

Huntington Ingalls Industries

Market Cap: US$11.3b

Designs, builds, overhauls, and repairs military ships in the United States.

Ariston Holding

Market Cap: €1.2b

Through its subsidiaries, produces and distributes hot water and space heating solutions in the Netherlands, Germany, Italy, Switzerland, and internationally.

Dassault Aviation société anonyme

Market Cap: €22.3b

An aerospace company, engages in designing and building military aircraft, business jets, and space systems in France, the United States, and internationally.

Thales

Market Cap: €45.9b

Provides various solutions in the defence and security, aerospace and space, and digital identity and security markets worldwide.

Howden Joinery Group

Market Cap: UK£4.3b

Supplies various kitchen, joinery, and hardware products in the United Kingdom, France, Belgium, and the Republic of Ireland.