Global Undiscovered Gems With Strong Fundamentals

Aesler Grup Internasional

Market Cap: Rp3.7t

Provides architectural and construction management services in Indonesia.

DINE. de

Market Cap: Mex$13.8b

Develops real estate projects in Mexico.

Morris State Bancshares

Market Cap: US$237.0m

Operates as the bank holding company for Morris Bank that provides various financial services to individuals and small businesses in Georgia.

Elron Ventures

Market Cap: US$112.3m

A venture capital firm specializing in early stage and seed investment.

Compañía Electro Metalúrgica

Market Cap: CL$350.4b

Operates as producers and vendors of integrated solutions for the mining market in Chile and internationally.

La Positiva Seguros y Reaseguros

Market Cap: S/417.4m

Provides insurance and reinsurance products and services to individuals and business customers in Peru.

Hermes Transportes Blindados

Market Cap: S/690.1m

Provides money and securities transfer, custody and processing, and document transfer services in Peru.

Industrias del Cobre Sociedad Anónima

Market Cap: S/789.0m

Engages in the manufacture and sale of cables and electrical and telecommunication conductors in Peru and internationally.

Inverfal PerúA

Market Cap: S/1.6b

Engages in investing in fixed or variable income securities.

Potasios de Chile

Market Cap: CL$488.6b

Engages in investment in shares and other financial instruments in Chile.

PC Jeweller

Market Cap: ₹90.9b

Manufactures, sells, and trades in gold, diamond, silver, precious stone, and gold and diamond studded jewelry in India.

Bank Ganesha

Market Cap: Rp2.8t

Provides various general banking products and services for individuals and businesses in Indonesia.

Australian United Investment

Market Cap: AU$1.4b

A publicly owned investment manager.

Tibet Development

Market Cap: CN¥2.8b

Engages in the production and sale of beer in China.

Pakistan National Shipping

Market Cap: PK₨83.4b

Engages in the shipping business worldwide.

KC

Market Cap: ₩246.8b

Manufactures and distributes semiconductor systems, display systems, and electronic materials in South Korea and internationally.

Ningbo Henghe Precision IndustryLtd

Market Cap: CN¥8.5b

Ningbo Henghe Precision Industry Co.,Ltd.

Guangdong Lingxiao Pump IndustryLtd

Market Cap: CN¥6.3b

Guangdong Lingxiao Pump Industry Co.,Ltd.

Vikram Solar

Market Cap: ₹121.7b

Manufactures and sells solar photovoltaic modules/systems.

Nanjing Well Pharmaceutical GroupLtd

Market Cap: CN¥3.9b

Nanjing Well Pharmaceutical Group Co.,Ltd.

SML Isuzu

Market Cap: ₹60.8b

Manufactures and sells commercial vehicles and related parts in India and internationally.

Chongqing Machinery & Electric

Market Cap: HK$6.6b

Designs, manufactures, and sells clean energy equipment and high-end smart manufacturing equipment.

Forth Smart Service

Market Cap: ฿4.5b

Provides prepaid mobile top-up services in Thailand.

Shree Pushkar Chemicals & Fertilisers

Market Cap: ₹10.1b

Manufactures and trades in chemicals, dyes and dyes intermediate, cattle feeds, fertilizers, and soil conditioners in India.

Danang Port

Market Cap: ₫3.2t

Offers port services in Vietnam.

Corporación Financiera Colombiana

Market Cap: Col$6.7t

Operates as a private financial institution in Columbia and Central America.

Lee's Pharmaceutical Holdings

Market Cap: HK$1.1b

An investment holding company, develops, manufactures, markets, and sells pharmaceutical products in the People's Republic of China, Hong Kong, and internationally.

Daphne International Holdings

Market Cap: HK$959.6m

An investment holding company, engages in the licensing, distribution, and sale of footwear products and accessories in Mainland China.

Vinacomin - Power Holding

Market Cap: ₫8.4t

Engages in the investment, construction, exploitation, and operation of thermal power and hydroelectric plants, and electronic factories using new energy, renewable energy, power grids, and power supply systems in Vietnam.

Fengyinhe Holdings

Market Cap: HK$1.5b

An investment holding company, provides various financial services to real estate market in the People’s Republic of China.

104

Market Cap: NT$7.5b

Engages in the information technology, general advertising, employment, and human resource consultancy services in Taiwan and internationally.

Lumax International

Market Cap: NT$11.0b

Provides electronic components and program-controlled instruments in Taiwan and China.

Zhejiang Jinghua Laser TechnologyLtd

Market Cap: CN¥4.9b

Develops, manufactures, and sells laser holographic molded products.

Zhejiang Chinastars New Materials Group

Market Cap: CN¥3.9b

Zhejiang Chinastars New Materials Group Co., Ltd.

TSTE

Market Cap: ฿4.4b

Primarily engages in the production and distribution of wheat flour in Thailand.

Indofood Agri Resources

Market Cap: S$502.5m

Operates as a vertically integrated agribusiness company in Singapore, Indonesia, China, Nigeria, Timor Leste, and internationally.