Global Undiscovered Gems With Strong Fundamentals

Zona Franca de Iquique

Market Cap: CL$232.0b

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

Sociedad Matriz SAAM

Market Cap: CL$1.2t

Through its subsidiaries, provides tugboat services, air cargo logistics, and real estate rentals in South America, Central America, and North America.

First Investment Bank AD

Market Cap: лв775.2m

Provides various banking products and services to individuals and corporate clients in Bulgaria and Cyprus.

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.

Sparta

Market Cap: €111.2m

A publicly owned investment manager.

Southern Michigan Bancorp

Market Cap: US$115.6m

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.

Compañía Electro Metalúrgica

Market Cap: CL$350.4b

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

Central Cooperative Bank AD

Market Cap: лв213.6m

A commercial bank, provides various financial products and services.

Elron Ventures

Market Cap: US$113.1m

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

SalfaCorp

Market Cap: CL$516.9b

Engages in engineering, construction, and real estate businesses in Chile and internationally.

Hermes Transportes Blindados

Market Cap: S/741.6m

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.

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$14.3b

Develops real estate projects in Mexico.

Namuga

Market Cap: ₩253.0b

Designs, produces, and sells cameras and 3D sensing modules in Korea and internationally.

Shanghai Chlor-Alkali Chemical

Market Cap: CN¥9.7b

Manufactures and sells chemical products in China and internationally.

Anpec Electronics

Market Cap: NT$16.2b

Engages in the design, testing, production, and marketing of mixed-signal power chips and sensors in Taiwan and internationally.

Aerospace Hi-Tech Holding Group

Market Cap: CN¥12.7b

Aerospace Hi-Tech Holding Group Co., Ltd.

KNJ

Market Cap: ₩185.6b

Manufactures and sells equipment and parts for display panels and semiconductors in Korea and internationally.

Guangdong Delian Group

Market Cap: CN¥4.2b

Engages in the automobile fine chemicals, automobile sales service, and automobile repair and maintenance businesses, and development of new application scenarios in China.

Zkteco

Market Cap: CN¥8.0b

ZKTeco Co., Ltd. provides biometric solutions and AI Cognitive Spatial Intelligence technologies.

Ramco Industries

Market Cap: ₹32.3b

Engages in the building products, textiles, and power generation businesses in India.

Hangzhou Zhengqiang

Market Cap: CN¥4.2b

Engages in the production and sale of automobile products in China and internationally.

Praise Victor Industrial

Market Cap: NT$11.3b

Designs, produces, and trades in polyurethanes (PU) materials.

Concord Enviro Systems

Market Cap: ₹10.9b

Engages in providing water and wastewater treatment, and reuse solutions.

Zhongyeda Electric

Market Cap: CN¥5.2b

Engages in the distribution of industrial electrical products in China.

Zhejiang JW Precision MachineryLtd

Market Cap: CN¥9.1b

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

Shenzhen Coship Electronics

Market Cap: CN¥10.5b

Engages in the manufacture and sale of smart home products and services worldwide.

Messe eSangLtd

Market Cap: ₩142.6b

Operates a marketing platform that connects the buyers to companies and the partners to buyers through the exhibition.

TSTE

Market Cap: ฿4.2b

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

Sava druzba za upravljanje in financiranje d.d

Market Cap: €111.5m

Engages in tourism business.

Citra Tubindo

Market Cap: Rp4.1t

Provides pipes and accessories, and related services to the oil and gas industries in Indonesia.

National Investments Company K.S.C.P

Market Cap: د.ك208.0m

Engages in the investment, treasury, real estate, asset management, advisory, and brokerage businesses in Kuwait, GCC countries, and internationally.

Jadranski naftovod d.d

Market Cap: €806.1m

Engages in the transport and storage of oil and oil products in the Republic of Croatia and internationally.

Machvision

Market Cap: NT$32.2b

Develops and sells machine vision systems for semiconductor and printed circuit board (PCB) industry in Taiwan.