Global Undiscovered Gems With Strong Fundamentals

Aesler Grup Internasional

Market Cap: Rp3.7t

Provides architectural and construction management services in Indonesia.

Transnational Corporation of Nigeria

Market Cap: ₦477.6b

Together with the subsidiaries, engages in the power, oil and gas, and hospitality businesses in Nigeria.

Zambia Sugar

Market Cap: K13.3b

Engages in growing of sugar cane in Zambia, the Democratic Republic of Congo, Kenya, and South Africa.

Morris State Bancshares

Market Cap: US$245.1m

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

Zona Franca de Iquique

Market Cap: CL$215.9b

Operates premises for wholesale and retail business centers in the duty-free zones of South America.

Transcorp Power

Market Cap: ₦2.1t

Engages in the generation and sale of electric power in Nigeria and internationally.

Practic

Market Cap: RON 736.5m

Engages in the lease and sublease of real estate properties in Romania.

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.

Hermes Transportes Blindados

Market Cap: S/690.1m

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

La Positiva Seguros y Reaseguros

Market Cap: S/417.4m

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

DINE. de

Market Cap: Mex$13.8b

Develops real estate projects in Mexico.

Tchaikapharma High Quality Medicines AD

Market Cap: лв1.6b

Develops, manufactures, and sells medicines in Bulgaria.

Colorado

Market Cap: د.م1.4b

Manufactures and distributes various paints in Morocco and internationally.

Southern Michigan Bancorp

Market Cap: US$106.4m

Operates as the bank holding company for Southern Michigan Bank & Trust that provides a range of commercial banking services to individuals, businesses, institutions, and governmental agencies primarily in the southwest and south-central Michigan communities.

Potasios de Chile

Market Cap: CL$488.6b

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

Capricorn Group

Market Cap: R11.2b

An investment holding company, engages in the banking, microlending, and related businesses in Namibia, Botswana, and Zambia.

Compañía Electro Metalúrgica

Market Cap: CL$350.4b

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

Inverfal PerúA

Market Cap: S/1.6b

Engages in investing in fixed or variable income securities.

Freetrailer Group

Market Cap: €684.6m

Operates as a trailer rental company in Denmark, Sweden, Germany, and Norway.

SBS Philippines

Market Cap: ₱6.0b

Engages in chemical trading and distribution in the Philippines.

Allmed Medical ProductsLtd

Market Cap: CN¥6.1b

Engages in the manufacture and sale of wound care and nursing material products in China.

Huasi Holding

Market Cap: CN¥2.0b

Operates in the fur industry in China, Europe, Russia, the United States, Japan, South Korea, and Hong Kong.

Acsion

Market Cap: R2.7b

Engages in property holding and development activities in South Africa and internationally.

Anji Foodstuff

Market Cap: CN¥2.9b

Engages in the research and development, production, and sale of condiments in China and internationally.

Jinlihua Electric

Market Cap: CN¥2.5b

Engages in the research, development, manufacture, and supply of functional glass and insulation products for use in HV, UHV, and EHV transmission lines in China and internationally.

Ningbo Kangqiang Electronics

Market Cap: CN¥6.6b

Manufactures and sells semiconductor packaging materials in China.

Hui Lyu Ecological Technology GroupsLtd

Market Cap: CN¥10.2b

Hui Lyu Ecological Technology Groups Co.,Ltd.

CTCI Advanced Systems

Market Cap: NT$4.4b

Provides system integration services to the hydrocarbon, power, industry, transportation, and high technology markets in Taiwan and internationally.

Shenzhen Keanda Electronic Technology

Market Cap: CN¥3.4b

Shenzhen Keanda Electronic Technology Corp., Ltd.

Lion Rock Group

Market Cap: HK$1.1b

An investment holding company, provides printing services to international book publishers, trade, professional, and educational publishing conglomerates, as well as print media companies.

Tait Marketing & Distribution

Market Cap: NT$4.2b

Tait Marketing & Distribution Co., Ltd., together with its subsidiaries, import and trades in consumer goods in Taiwan.

Kirac Galvaniz Telekominikasyon Metal Makine Insaat Elektrik Sanayi ve Ticaret Anonim Sirketi

Market Cap: ₺10.3b

Operates as a guardrail supplier company in Turkey.

Anhui Huaren Health Pharmaceutical

Market Cap: CN¥6.0b

Anhui Huaren Health Pharmaceutical Co., Ltd.

Ha Giang Mineral Mechanics

Market Cap: ₫3.9t

Explores, extracts, and process mineral ores in Vietnam and internationally.

MIA Teknoloji Anonim Sirketi

Market Cap: ₺19.1b

Provides software development services to public and private organizations in Turkey.

Knowledge Marine & Engineering Works

Market Cap: ₹20.2b

Engages in the ownership, operation, and chartering/hiring of marine crafts in India.