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.

Ningbo Deye Technology Group

Market Cap: CN¥51.4b

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

Indorama Ventures

Market Cap: ฿114.0b

Manufactures and distributes petrochemical products in Thailand, the United States, Brazil, and internationally.

Beijing New Building Materials

Market Cap: CN¥45.1b

Manufactures and sells building materials in China and internationally.

ShenZhen YUTO Packaging Technology

Market Cap: CN¥22.0b

ShenZhen YUTO Packaging Technology Co., Ltd.

Middle East Healthcare

Market Cap: ر.س5.3b

A healthcare provider, owns and operates a network of hospitals under the Saudi German Hospital name in the Middle East and North Africa.

Jiangsu Xinquan Automotive TrimLtd

Market Cap: CN¥23.2b

Designs, develops, manufactures, sells, and supplies auto parts in China.

Select Harvests

Market Cap: AU$564.2m

Engages in the growing, processing, packaging, and selling of almonds and its by-products in Australia.

Corpovael. de

Market Cap: Mex$1.0b

Engages in the design, urbanization, construction, promotion, and sale of homes in Mexico.

Aeon (M) Bhd

Market Cap: RM 1.9b

Operates and manages a retail chain of departmental stores and supermarkets in Malaysia.

Bangchak Corporation

Market Cap: ฿43.7b

Engages in the refining and marketing of petroleum products in Thailand, Singapore, Norway, Korea, Laos, and internationally.

Jonjee Hi-Tech Industrial and Commercial HoldingLtd

Market Cap: CN¥14.8b

Produces and sells seasoning products in China and internationally.

CapitaLand Malaysia Trust

Market Cap: RM 2.1b

CapitaLand Malaysia Trust (CLMT) is a real estate investment trust (REIT) and was listed on the Main Market of Bursa Malaysia Securities Berhad on 16 July 2010.

LX Semicon

Market Cap: ₩873.4b

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

Acrow

Market Cap: AU$321.8m

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

Sasseur Real Estate Investment Trust

Market Cap: S$869.5m

Invests in a portfolio of real estate and related assets.

Trajan Group Holdings

Market Cap: AU$140.2m

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

Shenzhen Fuanna Bedding and FurnishingLtd

Market Cap: CN¥6.2b

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

Proya CosmeticsLtd

Market Cap: CN¥33.1b

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

Anhui Honglu Steel Construction(Group)

Market Cap: CN¥12.1b

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

REC

Market Cap: ₹1.0t

Engages in the provision of financing services for power generation, transmission, and distribution projects in India.

China Mengniu Dairy

Market Cap: HK$63.8b

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

Shenzhen Transsion Holdings

Market Cap: CN¥93.2b

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

Sinoma International EngineeringLtd

Market Cap: CN¥24.0b

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

Tsingtao Brewery

Market Cap: HK$85.8b

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

Carlsberg

Market Cap: US$106.1b

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

Chorus Aviation

Market Cap: US$551.6m

Through its subsidiaries, provides aviation services.

Highwood Asset Management

Market Cap: CA$79.6m

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

CNH Industrial

Market Cap: €15.3b

An equipment and services company, engages in the design, production, marketing, sale, and financing of agricultural and construction equipment in North America, Europe, the Middle East, Africa, South America, and the Asia Pacific.

ProCredit Holding

Market Cap: €570.1m

Provides commercial banking products and services for small and medium enterprises and private customers in Europe, South America, and Germany.

Angel Oak Mortgage REIT

Market Cap: US$229.3m

A real estate finance company, focuses on acquiring and investing in first lien non- qualified mortgage loans and other mortgage-related assets in the United States mortgage market.

Singulus Technologies

Market Cap: €14.8m

Develops and assembles machines and systems for thin-film coating and surface treatment processes worldwide.

Pollard Banknote

Market Cap: €546.8m

Manufactures and sells lottery and charitable gaming products and solutions in the United States, Canada, and internationally.

Infinity Natural Resources

Market Cap: US$821.8m

Engages in the acquisition, exploration, and development of properties to produce oil, natural gas, and natural gas liquids from underground reservoirs in the United States.

Vestis

Market Cap: US$644.7m

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