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.

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.

Jiangsu Xinquan Automotive TrimLtd

Market Cap: CN¥23.2b

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

Jonjee Hi-Tech Industrial and Commercial HoldingLtd

Market Cap: CN¥14.8b

Produces and sells seasoning products in China and internationally.

Acrow

Market Cap: AU$321.8m

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

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.

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.

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.

Ribbon Communications

Market Cap: US$690.6m

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

CES Energy Solutions

Market Cap: €1.8b

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

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.

Capgemini

Market Cap: €21.5b

Provides consulting, digital transformation, technology, and engineering services primarily in North America, France, the United Kingdom, Ireland, the rest of Europe, the Asia-Pacific, and Latin America.

Hikma Pharmaceuticals

Market Cap: €4.0b

Develops, manufactures, markets, and sells a range of generic, branded, and in-licensed pharmaceutical products.

McEwen

Market Cap: CA$571.4m

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

Capgemini

Market Cap: €21.5b

Provides consulting, digital transformation, technology, and engineering services primarily in North America, France, the United Kingdom, Ireland, the rest of Europe, the Asia-Pacific, and Latin America.

Prosegur Cash

Market Cap: €1.0b

Provides integrated cash cycle management solutions and automating payments in retail establishments and ATM management for financial institutions, retail establishments, business, government agencies, central banks, mints, and jewellery stores in Europe, LATAM, and internationally.

d'Amico International Shipping

Market Cap: €425.9m

Through its subsidiaries, operates as a marine transportation company worldwide.

Mattel

Market Cap: €5.8b

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.

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.

ACM Research

Market Cap: €1.6b

Develops, manufactures, and sells capital equipment worldwide.

First Citizens BancShares

Market Cap: US$24.7b

Operates as the holding company for First-Citizens Bank & Trust Company that provides retail and commercial banking services to individuals, businesses, and professionals in the United States and internationally.

Regeneron Pharmaceuticals

Market Cap: €59.5b

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

Corebridge Financial

Market Cap: €18.4b

Provides retirement solutions and insurance products in the United States.