Global Potentially Undervalued Companies

Spectrum Pharmaceuticals

Market Cap: €209.9m

Spectrum Pharmaceuticals, Inc., a biopharmaceutical company, develops and commercializes oncology drug products.

Huaqin Technology

Market Cap: CN¥89.3b

Engages in the development, manufacturing, and operation service of software, hardware, systems for tech companies worldwide.

Carlsberg

Market Cap: US$108.3b

Produces and markets beer and other beverage products in Denmark, China, the United Kingdom, and internationally.

Shenzhen Transsion Holdings

Market Cap: CN¥74.9b

Provides smart devices and mobile services in Africa, South and Southeast Asia, the Middle East, Latin America, and internationally.

Milkyway Chemical Supply Chain ServiceLtd

Market Cap: CN¥8.6b

Provides chemical supply chain solutions worldwide.

NetEase Cloud Music

Market Cap: HK$41.9b

An investment holding company, engages in the operation of online platforms to provide music and social entertainment services in the People’s Republic of China.

Sichuan Baicha Baidao Industrial

Market Cap: HK$9.8b

An investment holding company, provides tea drink products in the People’s Republic of China.

Anhui Honglu Steel Construction(Group)

Market Cap: CN¥11.5b

Manufactures and sells steel structures and supporting products in China and internationally.

Aeris Resources

Market Cap: AU$511.4m

Explores, produces, and sells precious metals in Australia.

Star Lake BioscienceZhaoqing Guangdong

Market Cap: CN¥11.3b

Engages in the manufacture and sale of pharmaceutical raw materials, and food and feed additives under the Star Lake and Yue Bao brand names in China and internationally.

IPH

Market Cap: AU$910.0m

Provides intellectual property (IP) services and products.

Guangdong Haid Group

Market Cap: CN¥93.0b

Research, develops, designs, produces, sells, and services animal feed products in China and internationally.

China Overseas Property Holdings

Market Cap: HK$16.4b

An investment holding company, provides property management services in Hong Kong, Macau, and Mainland China.

C&D International Investment Group

Market Cap: HK$37.9b

An investment holding company, engages in the property development, real estate industry chain investment services, and industry investment activities in the People’s Republic of China.

Aurelia Metals

Market Cap: AU$380.8m

Engages in the exploration and production of mineral properties in Australia.

Trajan Group Holdings

Market Cap: AU$103.7m

Develops, manufactures, and sells analytical and life science products and devices in Malaysia, Japan, Australia, New Zealand, the United States, Europe, the Middle East, Africa, and India.

China Resources Land

Market Cap: HK$218.2b

An investment holding company, engages in the investment, development, management, and sale of properties in the People’s Republic of China.

Sinoma International EngineeringLtd

Market Cap: CN¥24.9b

Engages in the engineering, equipment manufacture and supply, and other businesses in China and internationally.

Jiang Zhong PharmaceuticalLtd

Market Cap: CN¥13.7b

Engages in the manufacture of pharmaceutical products in China.

Apeloa PharmaceuticalLtd

Market Cap: CN¥18.5b

Provides raw materials and intermediates to various pharmaceutical factories in the People’s Republic of China and internationally.

Micro-Tech (Nanjing)Ltd

Market Cap: CN¥14.5b

Researches, develops, manufactures, and sells minimally invasive medical devices to hospitals and clinics worldwide.

China Pacific Insurance (Group)

Market Cap: CN¥314.6b

Provides insurance products to individual and institutional customers in the People’s Republic of China.

Jinneng Holding Shanxi Coal Industryltd

Market Cap: CN¥23.1b

Engages in the production and sales of coal in China.

Indofood Sukses Makmur

Market Cap: Rp65.2t

Operates as a food solutions company in Indonesia, the Middle East, Africa, the rest of Asia, and internationally.

China Railway Group

Market Cap: CN¥126.4b

Operates as a multi-functional integrated construction company in Mainland China and internationally.

Adairs

Market Cap: AU$329.8m

Operates as a specialty retailer of home furnishings, furniture, and decoration products in Australia and New Zealand.

Anker Innovations

Market Cap: CN¥57.0b

Develops and sells mobile charging products.

Beijing New Building Materials

Market Cap: CN¥41.8b

Manufactures and sells building materials in China and internationally.

China Mengniu Dairy

Market Cap: HK$57.1b

An investment holding company, manufactures and distributes dairy products under the MENGNIU brand in the People’s Republic of China and internationally.

Compagnie de Saint-Gobain

Market Cap: €42.5b

Designs, manufactures, and distributes materials and solutions for the construction and industrial markets worldwide.

Carmila

Market Cap: €2.4b

As the third-largest listed owner of commercial property in Europe, Carmila was founded by Carrefour and large institutional investors in order to enhance the value of shopping centres adjoining Carrefour hypermarkets in France, Spain and Italy.

F5

Market Cap: €13.9b

Provides multicloud application security and delivery solutions in the United States, Europe, the Middle East, Africa, and the Asia Pacific region.

Ventura Offshore Holding

Market Cap: NOK 2.1b

A deep-water drilling contractor, provides offshore drilling services to the oil and gas industry in Brazil and internationally.

Eiffage

Market Cap: €11.3b

Engages in the construction and concessions industries in France, rest of Europe, and internationally.

Ernst Russ

Market Cap: €234.5m

A publicly owned investment manager.

Koenig & Bauer

Market Cap: €160.1m

Develops and manufactures printing and postprint systems worldwide.