Global Potentially Undervalued Companies

Spectrum Pharmaceuticals

Market Cap: €209.9m

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

Carlsberg

Market Cap: US$103.5b

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

Kalmar Oyj

Market Cap: €2.2b

Provides heavy material handling equipment and services for ports, terminals, distribution centres, manufacturing, and heavy logistics industries in the Americas, Europe, Asia, the Middle East, and Africa.

Proya CosmeticsLtd

Market Cap: CN¥32.0b

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

IPH

Market Cap: AU$954.4m

Provides intellectual property (IP) services and products.

China Resources Power Holdings

Market Cap: HK$90.8b

An investment holding company, invests in, develops, operates, and manages power plants and coal mines in the People’s Republic of China.

Worley

Market Cap: AU$7.2b

Provides professional services to the energy, chemicals, and resources sectors in the Americas, Europe, the Middle East, Africa, Australia, the Asia Pacific, and China.

Anhui Honglu Steel Construction(Group)

Market Cap: CN¥8.7b

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

Shanghai Yuyuan Tourist Mart (Group)

Market Cap: CN¥22.4b

Shanghai Yuyuan Tourist Mart (Group) Co., Ltd.

China Resources Land

Market Cap: HK$211.2b

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

LX Semicon

Market Cap: ₩891.3b

Operates as a semiconductor company in South Korea, China, Vietnam, Taiwan, Japan, and internationally.

China Overseas Property Holdings

Market Cap: HK$16.2b

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

C&D International Investment Group

Market Cap: HK$39.1b

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.

Jiangsu Changshu Rural Commercial Bank

Market Cap: CN¥23.0b

Jiangsu Changshu Rural Commercial Bank Co., Ltd.

Monash IVF Group

Market Cap: AU$257.2m

Engages in the provision of assisted reproductive and specialist women imaging services in Australia and Malaysia.

Ganyuan Foods

Market Cap: CN¥5.1b

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

Anhui Conch Cement

Market Cap: CN¥130.6b

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

China Railway Group

Market Cap: CN¥127.4b

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

Micro-Star International

Market Cap: NT$96.3b

Engages in the manufacture and sale of motherboards, interface cards, notebook computers, and other electronic products in Asia, Europe, the United States, and internationally.

Indofood Sukses Makmur

Market Cap: Rp67.2t

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

Bank of China

Market Cap: HK$1.7t

Provides various banking and financial services in Chinese Mainland, Hong Kong, Macao, Taiwan, and internationally.

Industrial Bank

Market Cap: CN¥430.0b

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

Beijing New Building Materials

Market Cap: CN¥41.0b

Manufactures and sells building materials in China and internationally.

Ribbon Communications

Market Cap: US$664.1m

Provides communications technology in the United States, Europe, the Middle East, Africa, the Asia Pacific, and internationally.

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.

CEWE Stiftung KGaA

Market Cap: €671.9m

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

Luceco

Market Cap: €198.3m

Manufactures and distributes wiring accessories, LED lighting, and portable power products in the United Kingdom, the Americas, Europe, the Middle East, Africa, the Asia Pacific.

Kyivstar Group

Market Cap: US$2.7b

Provides a range of mobile communication and home Internet services in Ukraine.

Cosmo Pharmaceuticals

Market Cap: CHF 1.0b

Focuses on the development and commercialization products for gastroenterology, dermatology, and healthtech worldwide.

TAKKT

Market Cap: €316.0m

Operates as a B2B direct marketing company for business equipment in Europe and North America.

Rainbow Tours

Market Cap: €1.8b

Operates as a tour operator in Poland, the Czech Republic, Greece, Spain, Turkey, Slovakia, Lithuania, and internationally.

Cheerwin Group

Market Cap: €3.0b

An investment holding company, manufactures and trades household insecticides and repellents, household cleaning, air care, personal care, pet stores and pet products, and other products in the People’s Republic of China.

q.beyond

Market Cap: €107.1m

Engages in the cloud, applications, artificial intelligence (AI), and security business in Germany and internationally.

Tenaga Nasional Berhad

Market Cap: US$77.8b

Engages in the generation, transmission, distribution, and sale of electricity in Malaysia, the United Kingdom, Kuwait, the Republic of Ireland, Australia, and internationally.

China Construction Bank

Market Cap: HK$2.0t

Engages in the provision of various banking and related financial services to individuals and corporate customers in the People's Republic of China and internationally.

Vestis

Market Cap: US$572.2m

Provides uniform rentals and workplace supplies in the United States and Canada.