Global Capital Goods Undervalued based on future growth

Jiangsu Zenergy Battery Technologies Group

Market Cap: HK$15.0b

Jiangsu Zenergy Battery Technologies Group Co., Ltd.

Hyosung

Market Cap: ₩2.9t

Engages in the manufacture of chemical fibers in Korea and internationally.

Luoyang Xinqianglian Slewing Bearing

Market Cap: CN¥11.5b

Luoyang Xinqianglian Slewing Bearing Co., Ltd.

Guangdong Mingyang ElectricLtd

Market Cap: CN¥11.3b

Engages in the research, development, production, and sale of high/low voltage switchgear, transformer, and power transmission and distribution equipment in China.

Cirrus Aircraft

Market Cap: HK$13.1b

Manufactures and sells piston aircraft and single-engine turbine jets worldwide.

Mota-Engil SGPS

Market Cap: €1.5b

Provides public and private construction works and related services in Europe, Africa, and Latin America.

First Tractor

Market Cap: HK$12.9b

Engages in the production, manufacture, and sale of agricultural machinery and power machinery.

GS Engineering & Construction

Market Cap: ₩2.4t

Engages in the civil works and construction, sales of new houses, repairs and maintenance, overseas general construction, and technology consultation activities in South Korea and internationally.

DEUTZ

Market Cap: €1.4b

Engages in the development, production, distribution, maintenance, and servicing of diesel and gas engines in Germany, Rest of Europe, the Middle East, Africa, the Asia Pacific, and the United States.

Riyue Heavy IndustryLtd

Market Cap: CN¥10.5b

Engages in the research and development, production, and sale of large-scale heavy industry equipment castings in China.

Storskogen Group

Market Cap: SEK 14.9b

Owns and develops small and medium-sized businesses operating in trade, industry, and services business areas.

NTN

Market Cap: JP¥243.0b

Manufactures and sells bearings, products, and CVJ axle products in Japan, the United States, Europe, Asia, and internationally.

Wacker Neuson

Market Cap: €1.3b

Manufactures and distributes light and compact equipment in Germany, Austria, the United States, and internationally.

China Lesso Group Holdings

Market Cap: HK$11.7b

An investment holding company, manufactures piping and building materials in China and internationally.

Hyundai G.F. Holdings

Market Cap: ₩2.3t

Engages in the departmental store businesses in the South Korea.

Greenbrier Companies

Market Cap: US$1.5b

Designs, manufactures, and markets railroad freight car equipment in North America, Europe, and South America.

Hunan Zhongke Electric

Market Cap: CN¥9.8b

Manufactures electromagnetic metallurgy products in China.

Jiangsu Haili Wind Power Equipment Technology

Market Cap: CN¥9.7b

Jiangsu Haili Wind Power Equipment Technology Co., Ltd.

Windey Energy Technology Group

Market Cap: CN¥9.6b

Researches, develops, manufactures, and sells wind turbines in China.

Camel Group

Market Cap: CN¥9.6b

Engages in the research, development, production, sale, recycling, and service of batteries in China and internationally.

Hangzhou Honghua Digital Technology Stock

Market Cap: CN¥9.3b

Hangzhou Honghua Digital Technology Stock Company LTD.

Palfinger

Market Cap: €1.2b

Provides hydraulic lifting solutions in Austria and internationally.

Gibraltar Industries

Market Cap: US$1.3b

Manufactures and provides products and services for the residential, agtech, and infrastructure markets in the United States and internationally.

Daehan Shipbuilding

Market Cap: ₩2.0t

Provides ship construction and repair services.

Haian Rubber Group

Market Cap: CN¥8.6b

Manufactures and distributes radial OTR tires.

Chicony Power Technology

Market Cap: NT$39.3b

Engages in research, development, manufacturing, and trading of exchange-connected power supplies, electronic components and equipment, LED application products, and smart building systems in Taiwan, Asia, America, Europe, and internationally.

Austal

Market Cap: AU$1.8b

Engages in the design, manufacture, and support of vessels for commercial and defense customers in the United States, Australia, Europe, Asia, and South America.

Gold cup Electric ApparatusLtd

Market Cap: CN¥8.0b

Researches, develops, manufactures, and sells flat magnet wires and cables in China and internationally.

Jiangsu Libert

Market Cap: CN¥8.0b

Designs, manufactures, and sells industrial modules in China and internationally.

Refrigeration Electrical Engineering

Market Cap: ₫30.4t

Produces, transmits, and distributes renewable electricity using hydro, solar, and wind power in Vietnam.

FerreycorpA

Market Cap: S/3.9b

Engages in the distribution of machinery, engines, equipment, spare parts, lubricants, and other goods in Peru, and Central and South America.

Anhui Construction Engineering Group

Market Cap: CN¥7.7b

Anhui Construction Engineering Group Co., Ltd.

Alliance Global Group

Market Cap: ₱69.7b

Engages in real estate property development, tourism-entertainment and gaming, food and beverage, and quick-service restaurant businesses in the Philippines and internationally.

Al-Babtain Power and Telecommunications

Market Cap: ر.س4.1b

Produces lighting poles, power transmission towers and accessories, and communication towers in Saudi Arabia and internationally.

John Keells Holdings

Market Cap: LK₨357.5b

Operates in the leisure, transportation, retail, consumer food, property, financial services, IT and innovation, and plantation services sectors in Sri Lanka, rest of Asia, Europe, and internationally.

Jinlei Technology

Market Cap: CN¥7.2b

Engages in the research, development, manufacture, machining, and sale of wind turbine main shafts, and various castings and forgings in China and internationally.