Global Potentially Undervalued Companies

Carrefour

Market Cap: €12.6b

Operates as a food retailer in France, Spain, Italy, Belgium, Poland, Romania, Brazil, Argentina, the Middle East, Africa, and Asia.

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.

Spectrum Pharmaceuticals

Market Cap: €209.9m

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

Apeloa PharmaceuticalLtd

Market Cap: CN¥15.5b

Provides raw materials and intermediates to various pharmaceutical factories in the People’s Republic of China and internationally.

Anhui HeliLtd

Market Cap: CN¥13.9b

Engages in the manufacture and sale of industrial vehicles in the People’s Republic of China.

China Tower

Market Cap: HK$192.3b

Provides telecommunication tower infrastructure services in the People's Republic of China.

IPH

Market Cap: AU$1.2b

Provides intellectual property (IP) services and products.

Wus Printed Circuit (Kunshan)

Market Cap: CN¥50.7b

Engages in the research, development, design, manufacture, and sale of printed circuit boards in China.

Shanghai Yuyuan Tourist Mart (Group)

Market Cap: CN¥21.8b

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

China Everbright Environment Group

Market Cap: HK$20.9b

An investment holding company, provides environmental solutions worldwide.

COSCO SHIPPING Ports

Market Cap: HK$15.3b

An investment holding company, manages and operates ports and terminals in Mainland China, Hong Kong, Europe, and internationally.

China Resources Land

Market Cap: HK$191.1b

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

Adairs

Market Cap: AU$374.6m

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

China Overseas Property Holdings

Market Cap: HK$17.2b

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

Jiangshan Oupai Door Industry

Market Cap: CN¥2.5b

Engages in the research, development, manufacture, processing, sale, and service of wooden doors in China and internationally.

LX Semicon

Market Cap: ₩813.2b

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

China National Building Material

Market Cap: HK$30.5b

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

Milkyway Chemical Supply Chain ServiceLtd

Market Cap: CN¥7.7b

Provides chemical supply chain solutions in China and internationally.

Sinoma International EngineeringLtd

Market Cap: CN¥24.5b

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

Beijing New Building Materials

Market Cap: CN¥49.2b

Manufactures and sells building materials in China and internationally.

Sunshine Insurance Group

Market Cap: HK$38.6b

Provides various insurance products and related services in the People’s Republic of China.

China Resources Power Holdings

Market Cap: HK$95.8b

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

Hubei Xingfa Chemicals Group

Market Cap: CN¥22.2b

Develops, produces, and sells phosphorus-based chemicals in China and internationally.

Fujian Funeng

Market Cap: CN¥27.1b

Engages in the production and sale of electricity and heat in China.

Adaro Minerals Indonesia

Market Cap: Rp37.0t

Engages in metallurgical coal mining business in Indonesia.

KMD Brands

Market Cap: AU$238.4m

Designs, markets, wholesales, and retails apparel, footwear, and equipment for surfing and the outdoors under the Kathmandu, Rip Curl, and Oboz brands in New Zealand, Australia, North America, Europe, Southeast Asia, and Brazil.

Shenzhen YHLO Biotech

Market Cap: CN¥8.5b

Researches, develops, produces, sells, and services in vitro diagnostic instruments and reagents in China and internationally.

Austevoll Seafood

Market Cap: NOK 19.3b

A seafood company, engages in the production of salmon and trout, white fish, and pelagic in Norway, the European Union, the United Kingdom, Eastern Europe, Africa, North America, Asia, and South America.

Security Bank

Market Cap: ₱51.7b

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

Grand Pharmaceutical Group

Market Cap: HK$19.2b

An investment holding company, engages in the research and development, manufacture, and sale of pharmaceutical preparations and medical devices, biotechnology and healthcare products, and pharmaceutical raw materials.

Zhejiang Jiuzhou Pharmaceutical

Market Cap: CN¥11.9b

Operates as contract development and manufacturing organization company in China and internationally.

Trajan Group Holdings

Market Cap: AU$120.4m

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.

Tenaris

Market Cap: €15.7b

Manufactures and supplies steel pipe products and related services for the energy industry and other industrial applications in North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.

Rayonier

Market Cap: US$3.9b

Rayonier is a leading timberland real estate investment trust with assets located in some of the most productive softwood timber growing regions in the United States and New Zealand.

Viatris

Market Cap: €8.9b

Operates as a healthcare company in North America, Europe, China, Taiwan, Hong Kong, Japan, Australia, New Zealand, rest of Asia, Africa, Latin America, and the Middle East.

Leggett & Platt

Market Cap: US$900.1m

Designs, manufactures, and sells engineered components and products in the United States, Europe, China, Canada, Mexico, and internationally.