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.

Sinoma International EngineeringLtd

Market Cap: CN¥24.3b

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

Ningbo Deye Technology Group

Market Cap: CN¥52.9b

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

Acrow

Market Cap: AU$324.9m

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

Proya CosmeticsLtd

Market Cap: CN¥34.8b

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

Trajan Group Holdings

Market Cap: AU$141.7m

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.

McEwen

Market Cap: CA$587.6m

Engages in the exploration, development, production, and sale of gold and silver deposits in the United States, Canada, Mexico, and Argentina.

LX Semicon

Market Cap: ₩858.8b

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

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.

China Mengniu Dairy

Market Cap: HK$63.7b

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

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.

Housing and Development Bank- Egypt (S.A.E)

Market Cap: ج.م33.6b

Together with its, provides corporate and retail banking services in Egypt.

Beijing New Building Materials

Market Cap: CN¥44.9b

Manufactures and sells building materials in China and internationally.

Arcadis

Market Cap: €3.7b

Offers design, engineering, architecture, and consultancy solutions for natural and built assets in The Americas, Europe, the Middle East, and the Asia Pacific.

Austevoll Seafood

Market Cap: NOK 19.1b

A seafood company, produces and sells salmon and trout, whitefish, and pelagic in Norway, the European Union, the United Kingdom, Eastern Europe, Africa, North America, Asia, and South America.

Regeneron Pharmaceuticals

Market Cap: €61.1b

Regeneron Pharmaceuticals, Inc. discovers, invents, develops, manufactures, and commercializes medicines for treating various diseases worldwide.

Angel Oak Mortgage REIT

Market Cap: US$232.2m

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.

China Mengniu Dairy

Market Cap: €63.7b

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

Persimmon

Market Cap: UK£3.6b

Operates as a house builder in the United Kingdom.

CEWE Stiftung KGaA

Market Cap: €644.9m

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

Copa Holdings

Market Cap: €4.8b

Through its subsidiaries, provides airline passenger and cargo transport services.

CNH Industrial

Market Cap: €15.5b

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.

Gamma Communications

Market Cap: UK£1.0b

Provides technology-based communications and software services to small, medium, and large-sized organizations in the United Kingdom, rest of Europe, and internationally.

MONY Group

Market Cap: UK£1.1b

Engages in the provision of price comparison and lead generation services through its websites and applications in the United Kingdom.

Econocom Group

Market Cap: €303.4m

Designs and develops digital solutions for public and private companies in Belgium and internationally.

Grafton Group

Market Cap: €1.8b

Distributes and sells building materials and construction related products in Ireland, the United Kingdom, the Netherlands, Finland, and Spain.

Bidvest Group

Market Cap: €83.4b

An investment holding company, engages in services, trading, and distribution businesses in South Africa and internationally.

Asahi Group Holdings

Market Cap: €2.9t

Manufactures and sells beer, alcohol and non-alcohol beverages, and food products in Japan, Europe, Oceania, and Southeast Asia.

McBride

Market Cap: €204.0m

Manufactures and sells private label household and personal care products to retailers and brand owners in the United Kingdom, Germany, France, Italy, Spain, rest of Europe, Asia-Pacific, and internationally.It operates through five segments: Liquids, Powders, Unit dosing, Aerosols, and Asia Pacific.

Wesdome Gold Mines

Market Cap: €2.6b

Wesdome Gold Mines Ltd. mines, develops, and explores for gold and silver deposits in Canada.

Maisons du Monde

Market Cap: €76.9m

Through its subsidiaries, provides home and living room related products in France and internationally.

Chorus Aviation

Market Cap: CA$554.3m

Through its subsidiaries, provides aviation services.

Xerox Holdings

Market Cap: US$484.4m

Operates as a workplace technology company that integrates hardware, services, and software for enterprises in North America, Latin America, Europe, the Middle East, Africa, India, and internationally.

Mattel

Market Cap: US$5.9b

A toy and family entertainment company, designs, manufactures, and markets toys and consumer products in North America, Latin America, Europe, the Middle East, Africa, and the Asia Pacific.

Koenig & Bauer

Market Cap: €248.5m

Develops and manufactures printing and postprint systems worldwide.