Global Capital Goods Undervalued based on future growth

Koninklijke BAM Groep

Market Cap: €2.0b

Provides products and services in the construction and property, civil engineering, and public private partnerships (PPP) sectors worldwide.

CIMC Vehicles (Group)

Market Cap: CN¥16.2b

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

China Conch Venture Holdings

Market Cap: HK$17.6b

An investment holding company, provides various package solutions for energy conservation and environmental protection in Mainland China and the Asia-Pacific.

Peab

Market Cap: SEK 21.1b

Operates as a construction and civil engineering company in Sweden, Norway, Finland, Denmark, and internationally.

Harbin Electric

Market Cap: HK$17.1b

Manufactures and sells power plant equipment in the People’s Republic of China, the rest of Asia, Africa, Europe, and the United States.

Xi'an Triangle DefenseLtd

Market Cap: CN¥15.3b

Engages in the research, production, sales and service of forging products in the aviation, aerospace, shipbuilding and other industries in China and internationally.

Fujian Longking

Market Cap: CN¥15.3b

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

Hyundai Elevator

Market Cap: ₩2.9t

Designs, manufactures, installs, maintains, and modernizes elevators in South Korea and internationally.

Shantui Construction Machinery

Market Cap: CN¥14.8b

Offers construction machinery products in China and internationally.

Shaanxi Construction Engineering Group

Market Cap: CN¥14.6b

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

Shijiazhuang Shangtai Technology

Market Cap: CN¥13.3b

Shijiazhuang Shangtai Technology Co., Ltd.

China Lesso Group Holdings

Market Cap: HK$14.5b

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

Cadeler

Market Cap: NOK 18.5b

Engages in offshore wind farm installation, operations, and maintenance services in Denmark.

Wacker Neuson

Market Cap: €1.5b

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

Dürr

Market Cap: €1.5b

Operates as a mechanical and plant engineering company worldwide.

First Tractor

Market Cap: HK$13.5b

Engages in the manufacturing and sale of agricultural machinery and power machinery.

CIMC Enric Holdings

Market Cap: HK$13.4b

Provides transportation, storage, and processing equipment and services for the clean energy, chemicals, environmental, and liquid food sectors worldwide.

Jiangsu Guotai International Group

Market Cap: CN¥12.1b

Jiangsu Guotai International Group Co., Ltd.

Jiangsu Linyang Energy

Market Cap: CN¥11.9b

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

Albany International

Market Cap: US$1.6b

Engages in the machine clothing and engineered composites businesses.

Qingdao Hanhe CableLtd

Market Cap: CN¥11.7b

Engages in the development, production, and sale of cables and wires primarily in the People's Republic of China.

Fugro

Market Cap: €1.3b

Provides geo-data services for the infrastructure, energy, and water industries in Europe, Africa, the Americas, the Asia Pacific, the Middle East, and India.

Windey Energy Technology Group

Market Cap: CN¥10.5b

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

Palfinger

Market Cap: €1.2b

Produces and sells crane and lifting solutions in Austria and internationally.

DL E&CLtd

Market Cap: ₩1.9t

A construction company, provides engineering, procurement, and construction solutions in South Korea.

Italmobiliare

Market Cap: €1.2b

An investment holding company, owns and manages a portfolio of equity and other investments in the financial and industrial sectors in Italy and internationally.

SolaX Power Network Technology (Zhejiang)

Market Cap: CN¥9.4b

SolaX Power Network Technology (Zhejiang) Co., Ltd.

Shandong Hi-Speed Road&Bridge Group

Market Cap: CN¥9.1b

Shandong Hi-Speed Road&Bridge Group Co., Ltd.

HD Hyundai Construction Equipment

Market Cap: ₩1.7t

HD Hyundai Construction Equipment Co.,Ltd.

MRC Global

Market Cap: US$1.2b

Through its subsidiaries, distributes pipes, valves, fittings, and other infrastructure products and services in the United States and internationally.

GS Engineering & Construction

Market Cap: ₩1.6t

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.

Bird Construction

Market Cap: CA$1.6b

Provides construction services in Canada.

Harbin Electric Corporation Jiamusi Electric MachineLtd

Market Cap: CN¥8.1b

Manufactures and sells electric motors in the People’s Republic of China.

Daewoo Engineering & Construction

Market Cap: ₩1.5t

Daewoo Engineering & Construction Co., Ltd.

HDC Hyundai Development

Market Cap: ₩1.5t

Operates as a financial real estate company, provides real estate services primarily in South Korea.

Nisshinbo Holdings

Market Cap: JP¥154.5b

Operates wireless communication, microdevice, automobile brakes, precision instruments, chemicals, textiles, and real estate businesses in China and internationally.