Global Potentially Undervalued Companies

Spectrum Pharmaceuticals

Market Cap: €209.9m

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

Jiangsu Changshu Rural Commercial Bank

Market Cap: CN¥22.7b

Jiangsu Changshu Rural Commercial Bank Co., Ltd.

Bethel Automotive Safety Systems

Market Cap: CN¥32.6b

Develops, manufactures, and sells automotive safety systems and advanced driver assistance systems in China.

Sinoma International EngineeringLtd

Market Cap: CN¥23.4b

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

Chongqing Baiya Sanitary Products

Market Cap: CN¥11.3b

Chongqing Baiya Sanitary Products Co., Ltd.

Anhui Conch Cement

Market Cap: CN¥131.5b

Manufactures, sells, and trades in clinker and cement products in China and internationally.

Ganyuan Foods

Market Cap: CN¥5.0b

Engages in the research and development, production, and sale of snack foods in China.

Star Lake BioscienceZhaoqing Guangdong

Market Cap: CN¥12.6b

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.

Proya CosmeticsLtd

Market Cap: CN¥31.8b

A beauty and personal care company, researches, develops, produces, and sells cosmetics in China.

Beijing New Building Materials

Market Cap: CN¥40.2b

Manufactures and sells building materials in China and internationally.

Industrial Bank

Market Cap: CN¥420.1b

Provides banking services in the People’s Republic of China.

China Railway Group

Market Cap: CN¥128.3b

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

Huaibei Mining HoldingsLtd

Market Cap: CN¥33.2b

Primarily engages in coal mining, washing, processing, sales, and production of coal chemical products in China.

Proya CosmeticsLtd

Market Cap: CN¥31.8b

A beauty and personal care company, researches, develops, produces, and sells cosmetics in China.

Beijing Urban Construction Investment & Development

Market Cap: CN¥11.0b

Beijing Urban Construction Investment & Development Co., Ltd.

MINISO Group Holding

Market Cap: €6.9b

An investment holding company, engages in the retail and wholesale of design-led lifestyle and pop toy products in China, the rest of Asia, the Americas, Europe, Indonesia, and internationally.

Brinker International

Market Cap: €5.6b

Owns, develops, operates, and franchises casual dining restaurants in the United States and internationally.

Huhtamäki Oyj

Market Cap: €3.1b

Provides packaging solutions in the United States, Germany, the United Kingdom, India, Turkey, Australia, Thailand, Poland, South Africa, Spain, Finland, and internationally.

Hollywood Bowl Group

Market Cap: UK£415.5m

Operates ten-pin bowling and mini-golf centers in the United Kingdom and internationally.

Koenig & Bauer

Market Cap: €235.6m

Develops and manufactures printing and postprint systems worldwide.

Delta Air Lines

Market Cap: CHF 36.8b

Provides scheduled air transportation for passengers and cargo in the United States and internationally.

JOST Werke

Market Cap: €755.4m

Manufactures and supplies safety-critical systems for the commercial vehicle industry in Germany, Europe, North America, Asia, Pacific, and Africa.

Arnoldo Mondadori Editore

Market Cap: €554.2m

Engages in publishing of books and magazines in Italy, rest of Europe, and the United States.

Capgemini

Market Cap: €21.0b

Provides consulting, digital transformation, technology, and engineering services primarily in North America, France, the United Kingdom, Ireland, the rest of Europe, the Asia-Pacific, and Latin America.

Valeura Energy

Market Cap: €766.3m

Engages in the exploration, development, and production of petroleum and natural gas in Thailand and in Turkey.

74Software

Market Cap: €1.1b

Operates as a software company in France.

Anheuser-Busch InBev

Market Cap: €99.0b

Produces, distributes, exports, markets, and sells beer in North America, Middle Americas, South America, Europe, the Middle East, Africa, and the Asia Pacific.

Origin Enterprises

Market Cap: €426.9m

Provides agronomy services company in Ireland, the United Kingdom, Brazil, Poland, Romania, Latin America, and internationally.

China Mengniu Dairy

Market Cap: €58.5b

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

Indofood Sukses Makmur

Market Cap: €62.3t

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

Sanofi

Market Cap: €103.6b

Engages in the research, development, manufacture, and marketing of therapeutic solutions.

CEWE Stiftung KGaA

Market Cap: €685.6m

Operates as a photo service and online printing provider in Germany and internationally.

Alaris Equity Partners Income Trust

Market Cap: €856.0m

A private equity firm specializing in management buyouts, growth capital, lower & middle market, later stage, industry consolidation, growth capital, and mature investments.

Kemira Oyj

Market Cap: €2.9b

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

PORR

Market Cap: €1.1b

Operates as a construction company in Austria, Germany, Poland, the Czech Republic, Italy, Romania, Switzerland, Serbia, Great Britain, Slovakia, Norway, Belgium, and internationally.

Highwood Asset Management

Market Cap: CA$75.1m

Together with its subsidiary, operates as an oil and gas exploration and production company in Canada.