Global Strong Past Earnings Growth, P/E Ratio Below 20

Royal Unibrew

Market Cap: DKK 27.3b

Provides beer, soft drinks, malt beverages, energy drinks, cider/ready to drink, juice, water, and wine and spirits.

Thai Life Insurance

Market Cap: ฿132.8b

Provides life insurance products and services in Thailand.

Hangcha Group

Market Cap: CN¥28.1b

Manufactures and sells forklift products in China and internationally.

Victory Capital Holdings

Market Cap: US$3.9b

Operates as an asset management company in the United States and internationally.

Chicony Electronics

Market Cap: NT$125.2b

Engages in the manufacture and sale of electronic parts and components in Taiwan and internationally.

PVH

Market Cap: US$3.7b

Operates as an apparel company in the United States and internationally.

3SBio

Market Cap: HK$28.9b

An investment holding company, develops, produces markets, and sells biopharmaceutical products in Mainland China and internationally.

JCDecaux

Market Cap: €3.4b

Operates as an outdoor advertising company worldwide.

NGK Insulators

Market Cap: JP¥557.7b

Manufactures and sells electric power related equipment in Japan, North America, Europe, Asia, and others.

KandenkoLtd

Market Cap: JP¥555.3b

Operates as a general infrastructure company in Japan.

Clariant

Market Cap: CHF 3.2b

Develops, manufactures, distributes, and sells specialty chemicals in Switzerland, Europe, the Middle East, Africa, the United States, and the Asia Pacific.

Hanjin Kal

Market Cap: ₩5.4t

Provides airline services.

CTF Services

Market Cap: HK$28.5b

A conglomerate company with a diversified portfolio of businesses in toll roads, insurance, logistics, construction, and facilities management primarily in Hong Kong and the Mainland.

Cosmo Energy Holdings

Market Cap: JP¥546.3b

Through its subsidiaries, engages in the oil business in Japan and internationally.

Yunnan Tin

Market Cap: CN¥26.3b

Engages in the production, processing, and export of tin in China and internationally.

Zhengzhou Coal Mining Machinery Group

Market Cap: CN¥26.3b

Manufactures and sells coal mining and excavating equipment for coal mining industry in the People’s Republic of China, Germany, and internationally.

Kurita Water Industries

Market Cap: JP¥540.8b

Engages in the provision of various water treatment solutions in North America, South America, Europe, and internationally.

Nien Made Enterprise

Market Cap: NT$117.5b

Engages in the research, development, design, manufacture, and sale of various types of window coverings and related components in the United States, Europe, and internationally.

Taichung Commercial Bank

Market Cap: NT$116.7b

Provides various banking products and services in Taiwan.

Offshore Oil EngineeringLtd

Market Cap: CN¥25.6b

Engages in the design, procurement, construction, offshore installation, commissioning and maintenance of offshore oil and gas development projects in China and internationally.

Vibra Energia

Market Cap: R$20.2b

Manufactures, processes, distributes, trades in, transports, imports, and exports oil-based products, lubricants, and other fuels.

Kemira Oyj

Market Cap: €3.2b

Operates as a chemicals company in Finland, rest of Europe, the Middle East, Africa, the Americas, and the Asia Pacific.

United Community Banks

Market Cap: US$3.4b

Operates as the bank holding company for United Community Bank that provides financial products and services to commercial, retail, government, education, energy, health care, and real estate sectors in the United States.

Cencosud Shopping

Market Cap: CL$3.2t

Operates shopping centers in Chile, Peru, and Colombia.

Quálitas Controladora. de

Market Cap: Mex$69.4b

Through its subsidiaries, offers insurance, coinsurance, and reinsurance services in the automobile sector in Mexico, El Salvador, Costa Rica, Peru, and the United States.

UNIQA Insurance Group

Market Cap: €3.1b

Operates as an insurance company in Austria, and Central and Eastern Europe.

Sinotruk Jinan TruckLtd

Market Cap: CN¥24.1b

Designs, develops, produces, and sells heavy-duty vehicles, special vehicles, specialized vehicles, engines, transmissions, axles, and other assemblies and automotive components in China.

MediPal Holdings

Market Cap: JP¥496.8b

Medipal Holdings Corporation engages in the prescription pharmaceutical wholesale business in Japan.

Primoris Services

Market Cap: US$3.3b

Provides infrastructure services primarily in the United States and Canada.

Chengdu Kanghong Pharmaceutical Group

Market Cap: CN¥23.5b

Research, develops, produces, and sells chemical drugs, chinese medicines, and biological products in China.

Rinnai

Market Cap: JP¥485.7b

Develops, manufactures, and sells heating products in Japan, the United States, Australia, China, South Korea, and Indonesia.

Tripod Technology

Market Cap: NT$106.7b

Processes, manufactures, and sells printed circuit boards and other related components in Taiwan, China, Vietnam, Thailand, South Korea, Malaysia, and internationally.

M/I Homes

Market Cap: US$3.2b

Engages in the construction and sale of single-family residential homes in Ohio, Indiana, Illinois, Minnesota, Michigan, Florida, Texas, North Carolina, and Tennessee.

ORION

Market Cap: ₩4.7t

Engages in the manufacture and sale of various confectionery products in South Korea, China, and internationally.

Apple Hospitality REIT

Market Cap: US$3.2b

Apple Hospitality REIT, Inc., formed in November 2007 as a Virginia corporation, together with its wholly-owned subsidiaries (the “Company”), is a self-advised real estate investment trust (“REIT”) that invests in income-producing real estate, primarily in the lodging sector, in the United States (“U.S.”).

Minth Group

Market Cap: HK$24.4b

An investment holding company, designs, develops, manufactures, processes, and sells automobile body parts and moulds of passenger cars.