Global Potentially Undervalued Companies

Spectrum Pharmaceuticals

Market Cap: €209.9m

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

NetEase Cloud Music

Market Cap: HK$41.1b

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.

China Overseas Property Holdings

Market Cap: HK$16.1b

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

Industrial Bank

Market Cap: CN¥440.2b

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

Megaworld

Market Cap: ₱66.3b

Engages in the development, sale, and leasing of real estate properties in the Philippines.

GWA Group

Market Cap: AU$650.4m

Research, designs, manufactures, imports, and markets building fixtures and fittings to residential and commercial premises in Australia, New Zealand, the United Kingdom, and internationally.

Longfor Group Holdings

Market Cap: HK$70.7b

An investment holding company, engages in the property development, commercial investment, asset management, property management, and smart construction businesses in the People’s Republic of China.

Guangdong Haid Group

Market Cap: CN¥92.2b

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

Converge Information and Communications Technology Solutions

Market Cap: ₱110.1b

Converge Information and Communications Technology Solutions, Inc.

Anker Innovations

Market Cap: CN¥59.6b

Develops and sells mobile charging products.

Beijing New Building Materials

Market Cap: CN¥42.7b

Manufactures and sells building materials in China and internationally.

Adairs

Market Cap: AU$321.0m

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

Milkyway Chemical Supply Chain ServiceLtd

Market Cap: CN¥8.5b

Provides chemical supply chain solutions worldwide.

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.

Security Bank

Market Cap: ₱50.9b

Provides banking and financial products and services to wholesale and retail clients in the Philippines.

Acrow

Market Cap: AU$326.2m

Provides smart integrated construction systems across formwork, industrial services, and commercial scaffolding in Australia.

Micro-Tech (Nanjing)Ltd

Market Cap: CN¥14.9b

Engages in the research, development, manufacturing, and sale of invasive medical devices in China and internationally.

China Railway Group

Market Cap: CN¥127.8b

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

Jinneng Holding Shanxi Coal Industryltd

Market Cap: CN¥24.1b

Engages in the production and sales of coal in China.

China Resources Land

Market Cap: HK$211.5b

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¥25.7b

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

Shenzhen Transsion Holdings

Market Cap: CN¥77.6b

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

Demant

Market Cap: DKK 46.1b

Operates as a hearing healthcare company in Europe, North America, Asia, Pacific region, and internationally.

Argan

Market Cap: €1.6b

ARGAN is the only French real estate company specializing in the DEVELOPMENT & RENTAL OF PREMIUM WAREHOUSES listed on EURONEXT and is the leading player of its market in France.

Austriacard Holdings

Market Cap: €201.3m

Operates as a technology company in the fields of people, authentication of object, and information management in Western Europe, Nordics, the Americas, Central and Eastern Europe, Germany, Austria, Switzerland, Türkiye, the Middle East, and Africa.

Gecina

Market Cap: €5.9b

A leading operator, that fully integrates all real estate expertise, owning, managing, and developing a unique prime portfolio valued at €17.0bn as at June 30, 2025.

Huaqin Technology

Market Cap: CN¥92.6b

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

Kardemir Karabük Demir Çelik Sanayi Ve Ticaret

Market Cap: ₺28.6b

Kardemir Karabük Demir Çelik Sanayi ve Ticaret A.S.

DaVita

Market Cap: €8.3b

Provides kidney dialysis services for patients suffering from chronic kidney failure in the United States.

CellaVision

Market Cap: SEK 3.7b

Develops and sells instruments, software, and reagents for blood and body fluids analysis in Sweden and internationally.

Carmila

Market Cap: €2.3b

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.

Koenig & Bauer

Market Cap: €168.6m

Develops and manufactures printing and postprint systems worldwide.

ICG

Market Cap: UK£6.1b

A private equity firm specializing in direct and fund of fund investments.

China National Building Material

Market Cap: HK$39.5b

An investment holding company, engages in building material, new materials, and engineering technical services businesses.

lastminute.com

Market Cap: CHF 127.4m

Operates in the online travel industry providing dynamic holiday packages in Italy, Spain, the United Kingdom, France, Germany, and internationally.

ARYZTA

Market Cap: CHF 1.3b

Provides products and services for in-store bakery solutions in Europe and internationally.