Global Potentially Undervalued Companies

Spectrum Pharmaceuticals

Market Cap: €209.9m

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

Trajan Group Holdings

Market Cap: AU$101.4m

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

IPH

Market Cap: AU$910.0m

Provides intellectual property (IP) services and products.

Star Lake BioscienceZhaoqing Guangdong

Market Cap: CN¥11.4b

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.

NetEase Cloud Music

Market Cap: HK$41.7b

An investment holding company, engages in the operation of online platforms to provide music and social entertainment services in the People’s Republic of China.

Guangdong Haid Group

Market Cap: CN¥92.3b

Research, develops, designs, produces, sells, and services animal feed products in China and internationally.

Anhui Honglu Steel Construction(Group)

Market Cap: CN¥11.5b

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

Aeris Resources

Market Cap: AU$511.4m

Explores, produces, and sells precious metals in Australia.

China Overseas Property Holdings

Market Cap: HK$16.3b

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

C&D International Investment Group

Market Cap: HK$37.3b

An investment holding company, engages in the property development, real estate industry chain investment services, and industry investment activities in the People’s Republic of China.

Aurelia Metals

Market Cap: AU$397.8m

Engages in the exploration and production of mineral properties in Australia.

Jiang Zhong PharmaceuticalLtd

Market Cap: CN¥13.8b

Engages in the manufacture of pharmaceutical products in China.

Shanghai Zhonggu Logistics

Market Cap: CN¥21.6b

Provides container shipping services in China.

Milkyway Chemical Supply Chain ServiceLtd

Market Cap: CN¥8.5b

Provides chemical supply chain solutions worldwide.

National Medical Care

Market Cap: ر.س6.5b

National Medical Care Company establishes, owns, equips, manages, maintains, and operates healthcare facilities in the Kingdom of Saudi Arabia.

Carlsberg

Market Cap: US$108.6b

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

Sinoma International EngineeringLtd

Market Cap: CN¥24.4b

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

China Pacific Insurance (Group)

Market Cap: CN¥319.0b

Provides insurance products to individual and institutional customers in the People’s Republic of China.

China Resources Land

Market Cap: HK$220.2b

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

Longfor Group Holdings

Market Cap: HK$68.7b

An investment holding company, engages in the property development, commercial investment, asset management, property management, and smart construction businesses in the People’s Republic of China.

Austevoll Seafood

Market Cap: NOK 17.7b

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.

Compagnie de Saint-Gobain

Market Cap: €42.4b

Designs, manufactures, and distributes materials and solutions for the construction and industrial markets worldwide.

Gecina

Market Cap: €5.9b

A leading operator, that fully integrates all real estate expertise, owning, managing, and developing a unique prime portfolio valued at €17.0bn as at June 30, 2025.

LPKF Laser & Electronics

Market Cap: €141.3m

Develops, manufactures, and sells laser-based solutions for the technology industry worldwide.

ARYZTA

Market Cap: CHF 1.2b

Provides products and services for in-store bakery solutions in Europe and internationally.

Flow Traders

Market Cap: €1.0b

Operates as a financial technology-enabled multi-asset class liquidity provider in Europe, the Americas, and Asia.

lastminute.com

Market Cap: CHF 131.1m

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

Demant

Market Cap: DKK 46.7b

Operates as a hearing healthcare company in Europe, North America, Asia, Pacific region, and internationally.

Befesa

Market Cap: €1.1b

Offers environmental recycling services to the steel and aluminum industries in the European, Asian, and North American markets.

Sword Group

Market Cap: €331.6m

Provides IT and software solutions.

CEWE Stiftung KGaA

Market Cap: €695.3m

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

L.D.C

Market Cap: €3.0b

Produces and sells poultry and processed products in France and internationally.

United Bank for Africa

Market Cap: ₦1.5t

Primarily provides corporate, commercial, and retail banking services in Nigeria, rest of Africa, and internationally.

Argan

Market Cap: €1.7b

ARGAN is the only French real estate company specializing in the DEVELOPMENT & RENTAL OF PREMIUM WAREHOUSES listed on EURONEXT and is the leading player of its market in France.

Gesco

Market Cap: €142.4m

Operates in the process, resource, healthcare, and infrastructure technology sectors in Germany, rest of Europe, the United States, and internationally.

Talgo

Market Cap: €351.5m

Engages in design, manufacture, and maintenance of railway and auxiliary machinery for the maintenance of railway systems rolling stock worldwide.