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.

Acrow

Market Cap: AU$323.4m

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

Ganyuan Foods

Market Cap: CN¥5.3b

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

China Mengniu Dairy

Market Cap: HK$64.1b

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

Select Harvests

Market Cap: AU$520.1m

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

Ningbo Deye Technology Group

Market Cap: CN¥47.1b

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

Anhui Honglu Steel Construction(Group)

Market Cap: CN¥12.5b

Manufactures and sells steel structures and supporting products 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.

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.

Trajan Group Holdings

Market Cap: AU$144.0m

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.

Proya CosmeticsLtd

Market Cap: CN¥32.7b

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

Star Lake BioscienceZhaoqing Guangdong

Market Cap: CN¥13.1b

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.

Beijing New Building Materials

Market Cap: CN¥45.3b

Manufactures and sells building materials in China and internationally.

Jiangsu Xinquan Automotive TrimLtd

Market Cap: CN¥23.3b

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

Sinoma International EngineeringLtd

Market Cap: CN¥24.3b

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

Jonjee Hi-Tech Industrial and Commercial HoldingLtd

Market Cap: CN¥14.6b

Produces and sells seasoning products in China and internationally.

LX Semicon

Market Cap: ₩891.3b

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

Austriacard Holdings

Market Cap: €204.7m

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.

Geely Automobile Holdings

Market Cap: US$194.4b

An investment holding company, operates as an automobile manufacturer primarily in the People’s Republic of China.

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

Market Cap: ج.م34.0b

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

Singulus Technologies

Market Cap: €15.6m

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

Bidvest Group

Market Cap: €81.2b

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

Ribbon Communications

Market Cap: US$711.9m

Provides communications technology in the United States, Europe, the Middle East, Africa, the Asia Pacific, and internationally.

Cosmo Pharmaceuticals

Market Cap: CHF 887.8m

Focuses on the development and commercialization products for gastroenterology, dermatology, and healthtech worldwide.

Axalta Coating Systems

Market Cap: US$6.1b

Through its subsidiaries, manufactures, markets, and distributes high-performance coatings systems in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America.

lastminute.com

Market Cap: CHF 170.6m

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

q.beyond

Market Cap: €114.1m

Engages in the cloud, applications, artificial intelligence (AI), and security business in Germany and internationally.

Rainbow Tours

Market Cap: €1.9b

Operates as a tour operator in Poland, the Czech Republic, Greece, Spain, Turkey, Slovakia, Lithuania, and internationally.

Aica Kogyo Company

Market Cap: €234.0b

Develops, produces, and sells chemical products, and laminates and building materials in Japan and internationally.

ACI Worldwide

Market Cap: US$4.6b

Develops, markets, installs, and supports software products and services for facilitating electronic payments in the United States and internationally.

Torex Gold Resources

Market Cap: US$3.6b

Operates as an intermediate gold producer.

CES Energy Solutions

Market Cap: €1.6b

Engages in the design, implementation, and manufacture of advanced consumable fluids and specialty chemicals in the United States and Canada.

Enhabit

Market Cap: €369.0m

Provides home health and hospice services in the United States.

Angel Oak Mortgage REIT

Market Cap: US$216.0m

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.

Pollard Banknote

Market Cap: €573.8m

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