Global Potentially Undervalued Companies

Spectrum Pharmaceuticals

Market Cap: €209.9m

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

China Foods

Market Cap: HK$7.8b

An investment holding company, manufactures, distributes, markets, and sells Coca-Cola series products in the People’s Republic of China.

Carlsberg

Market Cap: US$107.5b

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

Binggrae

Market Cap: ₩628.7b

Engages in production and sale of dairy products in South Korea and internationally.

Acrow

Market Cap: AU$318.8m

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

Tsingtao Brewery

Market Cap: HK$86.9b

Engages in the production, distribution, wholesale, and retail sale of beer products in Mainland China, Hong Kong, Macau, and internationally.

Miura

Market Cap: JP¥326.3b

Produces and sells boilers in Japan and internationally.

Sinoma International EngineeringLtd

Market Cap: CN¥23.9b

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

F&F

Market Cap: ₩2.5t

Manufactures and sells sewn wearing apparels in South Korea.

Ningbo Deye Technology Group

Market Cap: CN¥57.0b

Engages in the production and sales of heat exchangers, inverters, and dehumidifiers in South Africa, Brazil, Hongkong, Germany, India, and internationally.

Cheil Worldwide

Market Cap: ₩2.0t

Provides various marketing solutions worldwide.

Proya CosmeticsLtd

Market Cap: CN¥32.8b

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

China Mengniu Dairy

Market Cap: HK$58.3b

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

WemadeLtd

Market Cap: ₩929.7b

Develops and publishes games in South Korea and internationally.

Star Lake BioscienceZhaoqing Guangdong

Market Cap: CN¥12.9b

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.

KH Neochem

Market Cap: JP¥98.5b

Researches, manufactures, and sells of petrochemical products in Japan and internationally.

LX Semicon

Market Cap: ₩850.6b

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

Foxsemicon Integrated Technology

Market Cap: NT$30.7b

Engages in the research, development, design, manufacturing, and sale of semiconductor equipment subsystems and system integration in Taiwan, the United States, China, and internationally.

Ganyuan Foods

Market Cap: CN¥5.3b

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

China Overseas Property Holdings

Market Cap: HK$17.4b

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

Innocean Worldwide

Market Cap: ₩742.0b

Provides marketing and communications services in the Americas, Europe, Asia, Oceania, the Middle East, and internationally.

Anhui Honglu Steel Construction(Group)

Market Cap: CN¥8.7b

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

Beijing New Building Materials

Market Cap: CN¥43.7b

Manufactures and sells building materials in China and internationally.

Shenzhen Fuanna Bedding and FurnishingLtd

Market Cap: CN¥6.1b

Engages in the research and development, design, production, and sale of textile home furnishing, sleep home furnishing, and living products in China and internationally.

ANE (Cayman)

Market Cap: HK$9.5b

An investment holding company operates an express freight network in the less-than-truckload (LTL) market in China.

Summerset Group Holdings

Market Cap: AU$2.7b

Develops, owns, and operates integrated retirement villages in New Zealand and Australia.

SK

Market Cap: ₩11.1t

Engages in advanced materials, energy, life sciences and biopharmaceuticals, and digital businesses.

Hyosung TNC

Market Cap: ₩932.2b

Manufactures and sells fiber in South Korea and internationally.

Monash IVF Group

Market Cap: AU$274.7m

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

Shandong Yisheng Livestock & Poultry Breeding

Market Cap: CN¥9.6b

Shandong Yisheng Livestock & Poultry Breeding Co., Ltd.

Hu Lane Associate

Market Cap: NT$16.8b

Engages in manufacture and sale of terminal devices, terminal crimping, industrial rubber, and plastic products in Taiwan.

Indofood Sukses Makmur

Market Cap: Rp65.9t

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

BOE Varitronix

Market Cap: HK$4.6b

An investment holding company, designs, manufactures, and sells liquid crystal display and related products in the People’s Republic of China, Europe, the United States, Korea, Japan, and internationally.

China Resources Land

Market Cap: HK$221.1b

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

China Railway Group

Market Cap: CN¥129.9b

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

MGM Resorts International

Market Cap: US$10.8b

Through its subsidiaries, operates as a gaming and entertainment company in the United States, China, and internationally.