Global Undiscovered Gems With Strong Fundamentals

PixArt Imaging

Market Cap: NT$29.3b

Researches, designs, produces, and sells CMOS image sensors and related ICs in Taiwan, Hong Kong, China, Japan, and internationally.

EMRO

Market Cap: ₩555.6b

Provides supply chain management software in South Korea and internationally.

Subros

Market Cap: ₹52.2b

Engages in the manufacture and sale of thermal products for automotive applications in India.

Farmers & Merchants Bancorp

Market Cap: US$332.5m

Operates as the bank holding company for The Farmers & Merchants State Bank that provides commercial banking services to individuals and small businesses in Northwest Ohio, Northeast Indiana, and Southeast Michigan.

EROAD

Market Cap: NZ$432.2m

Provides electronic on-board units and software as a service to the transport industry in New Zealand, the United States, and Australia.

Guangdong TCL Smart Home Appliances

Market Cap: CN¥11.3b

Guangdong TCL Smart Home Appliances Co., Ltd.

Devsisters

Market Cap: ₩478.1b

Engages in the development of mobile games in South Korea and internationally.

Monogatari

Market Cap: JP¥166.8b

Operates a chain of restaurants in Japan and internationally.

Guangzhou Guangri StockLtd

Market Cap: CN¥9.1b

Manufactures and sells elevators and related parts in China.

Anhui Anli Material Technology

Market Cap: CN¥4.7b

Engages in the research and development, production, sale, and servicing of ecological functional polyurethane synthetic leather products, polyurethane resin series products, and other polymer composite materials in China.

TIMAH

Market Cap: Rp7.5t

Engages in tin mining and smelting operations in Indonesia and internationally.

Wowprime

Market Cap: NT$18.2b

Operates restaurants and coffee/tea shops in Taiwan and Mainland China.

Beijing GeoEnviron Engineering & Technology

Market Cap: CN¥10.0b

Beijing GeoEnviron Engineering & Technology, Inc.

Phu Tai

Market Cap: ₫3.6t

Engages in the manufacture and trade of stone and wood products in Vietnam and internationally.

Xi'an Manareco New MaterialsLtd

Market Cap: CN¥7.3b

Manufactures and markets liquid crystal materials, OLED materials, and drug intermediates.

GMO Financial Gate

Market Cap: JP¥47.4b

Provides cashless payment infrastructure in Japan.

NORINCO International Cooperation

Market Cap: CN¥13.9b

Operates as an engineering contractor in Asia, Africa, the Middle East, and internationally.

China Resources Medical Holdings

Market Cap: HK$5.0b

An investment holding company, provides general healthcare, hospital management, and other hospital-related services in the People’s Republic of China.

MREIT

Market Cap: ₱53.6b

Operates as a real estate investment trust.

Guangdong Deerma Technology

Market Cap: CN¥5.1b

Engages in the research, production, and marketing of electrical appliances under the DEERMA brand name in China.

Plover Bay Technologies

Market Cap: HK$7.7b

An investment holding company, designs, develops, and markets software defined wide area network routers.

Valqua

Market Cap: JP¥62.7b

Designs, manufactures, processes, and sells fiber, fluorocarbon resin, rubber, and other materials in Japan and internationally.

Chicony Power Technology

Market Cap: NT$43.5b

Develops, manufactures, and sells switching power supplies, electronic components and LED lighting modules, and smart building solutions in Taiwan.

Helia Group

Market Cap: AU$1.5b

Helia Group Limited, together with its subsidiaries, is involved in the loan mortgage insurance business primarily in Australia.

Furuno Electric

Market Cap: JP¥157.7b

Manufactures and sells marine and industrial electronics equipment, wireless LAN system, and handheld terminal in Japan, the Americas, Europe, rest of Asia, and internationally.

Advice IT Infinite

Market Cap: ฿3.4b

Engages in the retail and wholesale of IT products, mobile phones and accessories in Thailand.

C.UyemuraLtd

Market Cap: JP¥158.9b

Researches, develops, manufactures, and sells plating chemicals, industrial chemicals, non-ferrous metals, and other products in Japan and internationally.

Japan Lifeline

Market Cap: JP¥100.9b

A medical device company, engages in manufacturing and sale of medical device in Japan.

Signature Alliance Group Berhad

Market Cap: RM 895.0m

An investment holding company, provides interior fitting-out services and building construction works in Malaysia.

Ramayana Lestari Sentosa

Market Cap: Rp2.3t

Operates a chain of department stores in Indonesia.

ARIAKE JAPAN

Market Cap: JP¥188.9b

Manufactures, processes, and sells natural seasoning products with extracts from chicken, pork, beef, and other fresh livestock ingredients.

Oriental Weavers Carpets Company (S.A.E)

Market Cap: ج.م15.1b

Manufactures and sells carpets, jet-printed rugs, and related raw materials worldwide.

Seiko Group

Market Cap: JP¥228.9b

Engages in watches, devices solutions, systems solutions, apparels, clocks, fashion accessories, system clocks and other businesses in Japan and internationally.

Sai Gon VRG Investment

Market Cap: ₫15.6t

Invests in, develops, constructs, and trades in infrastructure of industrial parks in Vietnam.

Hioki E.E

Market Cap: JP¥82.0b

Develops, manufactures, sells, and services electrical measuring instruments in Japan, China, rest of Asia, America, Europe, and internationally.

Ventive Hospitality

Market Cap: ₹166.5b

Engages in the hotel and resorts operations in India and internationally.