Global Potentially Undervalued Companies

Spectrum Pharmaceuticals

Market Cap: €209.9m

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

Anker Innovations

Market Cap: CN¥61.4b

Develops and sells mobile charging products.

China Resources Land

Market Cap: HK$206.9b

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

China Railway Group

Market Cap: CN¥134.8b

Operates as a multi-functional integrated construction company in Mainland China and internationally.

Shanghai Yuyuan Tourist Mart (Group)

Market Cap: CN¥22.6b

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

IPH

Market Cap: AU$920.4m

Provides intellectual property (IP) services and products.

Stanmore Resources

Market Cap: AU$2.0b

Engages in the exploration, development, production, and sale of metallurgical coal in Australia.

Trajan Group Holdings

Market Cap: AU$122.0m

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.

Ganyuan Foods

Market Cap: CN¥4.9b

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

Sinoma International EngineeringLtd

Market Cap: CN¥24.5b

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

Aurelia Metals

Market Cap: AU$457.0m

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

C&D International Investment Group

Market Cap: HK$38.0b

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.

China Overseas Property Holdings

Market Cap: HK$15.7b

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

China Mengniu Dairy

Market Cap: HK$56.0b

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

Anhui Conch Cement

Market Cap: CN¥135.2b

Manufactures, sells, and trades in clinker and cement products in China and internationally.

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.

Worley

Market Cap: AU$7.1b

Provides professional services to the energy, chemicals, and resources sectors in the Americas, Europe, the Middle East, Africa, Australia, the Asia Pacific, and China.

China Construction Bank

Market Cap: HK$2.0t

Engages in the provision of various banking and related financial services to individuals and corporate customers in the People's Republic of China and internationally.

Proya CosmeticsLtd

Market Cap: CN¥31.1b

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

ShenZhen YUTO Packaging Technology

Market Cap: CN¥23.2b

ShenZhen YUTO Packaging Technology Co., Ltd.

Shandong Yisheng Livestock & Poultry Breeding

Market Cap: CN¥9.2b

Shandong Yisheng Livestock & Poultry Breeding Co., Ltd.

ACI Worldwide

Market Cap: US$5.3b

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

H.I.S

Market Cap: €98.4b

Provides travel agency services internationally.

ProSiebenSat.1 Media

Market Cap: €1.3b

Operates as a media company in Germany, Austria, Switzerland, the United States, and internationally.

Huhtamäki Oyj

Market Cap: €3.0b

Provides packaging solutions in the United States, Germany, the United Kingdom, India, Turkey, Australia, Thailand, Poland, South Africa, Spain, Finland, and internationally.

ICG

Market Cap: UK£6.0b

A private equity firm specializing in direct and fund of fund investments.

TAKKT

Market Cap: €320.8m

Operates as a B2B direct marketing company for business equipment in Europe and North America.

ConocoPhillips

Market Cap: US$110.9b

Explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids.

Compagnie de Saint-Gobain

Market Cap: €43.9b

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

Koenig & Bauer

Market Cap: €223.1m

Develops and manufactures printing and postprint systems worldwide.

Burford Capital

Market Cap: US$2.4b

Provides legal finance products and services worldwide.

Tenaris

Market Cap: €15.3b

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.

Flowco Holdings

Market Cap: US$1.3b

Through its subsidiaries, provides production optimization, artificial lift, and methane abatement solutions for the oil and natural gas industry in the United States.

Semapa - Sociedade de Investimento e Gestão SGPS

Market Cap: €1.5b

Through its subsidiaries, produces and sells pulp, printing and writing papers, and tissues in Portugal, the rest of Europe, the United States, Africa, Asia, and Oceania.

Fortune Brands Innovations

Market Cap: US$5.8b

Engages in the provision of home and security products for residential home repair, remodeling, new construction, and security applications in the United States and internationally.

Angel Oak Mortgage REIT

Market Cap: US$216.5m

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.