Chinese Capital Goods Undervalued based on future growth

China Railway Group

Market Cap: CN¥129.5b

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

XCMG Construction Machinery

Market Cap: CN¥106.4b

Engages in the manufacture and sale of construction machinery in China.

Power Construction Corporation of China

Market Cap: CN¥83.0b

Offers engineering contracting services in the People's Republic of China and internationally.

TBEA

Market Cap: CN¥58.1b

Provides power transmission, renewable energy, new materials, and energy solutions in China and internationally.

Ningbo Deye Technology Group

Market Cap: CN¥55.9b

Engages in the production and sales of heat exchangers, inverters, and dehumidifiers in China, the United Kingdom, the United States, Germany, India, and internationally.

Jiangsu Zhongtian Technology

Market Cap: CN¥48.0b

Produces and sells electrical machinery and equipment for the communications, electric power, marine, new energy, marine engineering construction, and other business sectors in China and internationally.

China Shipbuilding Industry Group Power

Market Cap: CN¥47.0b

China Shipbuilding Industry Group Power Co., Ltd.

Ningbo Sanxing Medical ElectricLtd

Market Cap: CN¥37.0b

Manufactures and sells power distribution and utilization systems in China and internationally.

Goldwind Science&Technology

Market Cap: CN¥32.0b

Provides wind power solutions in China and internationally.

Xiamen C&D

Market Cap: CN¥31.7b

Engages in the supply chain and real estate development businesses in China and internationally.

GEM

Market Cap: CN¥31.5b

Operates in the recycling industry in China and internationally.

CNGR Advanced MaterialLtd

Market Cap: CN¥29.7b

Engages in the research, development, processing, production, and sale of lithium battery cathode material precursors and new energy recycling materials in the fields of new materials and energy.

Sany Renewable EnergyLtd

Market Cap: CN¥29.4b

Engages in the research and development, manufacture, and sale of wind turbines and generators in China.

Zhengzhou Coal Mining Machinery Group

Market Cap: CN¥25.6b

Manufactures and sells coal mining and excavating equipment for coal mining industry in the People’s Republic of China, Germany, and internationally.

Guangxi Liugong Machinery

Market Cap: CN¥20.5b

Manufactures and sells construction machinery in China and internationally.

Shanxi Coal International Energy GroupLtd

Market Cap: CN¥19.9b

Engages in the coal production business in China and internationally.

CIMC Vehicles (Group)

Market Cap: CN¥16.1b

Designs, develops, produces, and sells specialty vehicles, semi-trailers, spare parts, and related technical services in China.

Shaanxi Construction Engineering Group

Market Cap: CN¥16.1b

Through its subsidiaries, engages in general engineering construction business in China and internationally.

Fujian Longking

Market Cap: CN¥14.7b

Engages in the manufacture and sale of environmental protection equipment worldwide.

Shantui Construction Machinery

Market Cap: CN¥13.8b

Offers construction machinery products in China and internationally.

Xiamen ITG GroupLtd

Market Cap: CN¥13.4b

Engages in the supply chain management, real estate, and financial service businesses.

Jiangsu Linyang Energy

Market Cap: CN¥13.0b

Provides energy meters, and system products and accessories in China and internationally.

Shenzhen KSTAR Science and Technology

Market Cap: CN¥12.8b

Shenzhen KSTAR Science and Technology Co., Ltd.

Beijing HyperStrong Technology

Market Cap: CN¥12.6b

Engages in the design, development, integration, and operation of energy storage power stations in China, Europe, North America, and Australia.

Titan Wind Energy (Suzhou)Ltd

Market Cap: CN¥12.1b

Produces, develops, and sells wind towers and components in China.

Shenzhen Yinghe Technology

Market Cap: CN¥11.1b

Engages in the research and development, production, and sale of lithium-ion battery automation equipment in China.

Zhejiang Communications Technology

Market Cap: CN¥10.5b

Zhejiang Communications Technology Co., Ltd.

Hunan Zhongke Electric

Market Cap: CN¥10.5b

Manufactures electromagnetic metallurgy products in China.

Zhejiang HangKe Technology

Market Cap: CN¥10.2b

Designs, develops, produces, and sells lithium-ion (Li-ion) battery post-processing systems for charging and discharging industry in China and internationally.

Sineng ElectricLtd

Market Cap: CN¥10.1b

Engages in the research and development, manufacture, maintenance, and trading of power electronic products in the People's Republic of China and internationally.

Arctech Solar Holding

Market Cap: CN¥9.9b

Manufactures and supplies solar trackers, fixed-tilt structures, and building-integrated photovoltaics (BIPV) solutions for utility-scale and commercial solar projects worldwide.

Jingjin Equipment

Market Cap: CN¥9.6b

Offers environmental protection products and services in China.

Sinosteel Engineering & Technology

Market Cap: CN¥9.5b

Through its subsidiary, Sinosteel Equipment & Engineering Co., Ltd., focuses on the industrial engineering and service, municipal engineering and investment, energy saving and environment protection, and high-tech businesses.

Sichuan Injet Electric

Market Cap: CN¥9.0b

Engages in the research and development, design, and manufacturing of industrial power equipment in China.

Suzhou Secote Precision ElectronicLTD

Market Cap: CN¥9.0b

Provides automation solutions in the People’s Republic of China.

Windey Energy Technology Group

Market Cap: CN¥9.0b

Develops, manufactures, and sells wind turbines in China.