Global Capital Goods Undervalued based on future growth

3S Industry Group

Market Cap: CN¥8.3b

Provides wind energy, construction, and safety protection equipment in China and internationally.

Alliance Global Group

Market Cap: ₱74.9b

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

Aamal Company Q.P.S.C

Market Cap: ر.ق4.4b

Engages in the industrial manufacturing, trading and distribution, managed services, and property management and development businesses in Qatar and internationally.

Anhui Construction Engineering Group

Market Cap: CN¥8.2b

Anhui Construction Engineering Group Co., Ltd.

Haian Rubber Group

Market Cap: CN¥8.2b

Engages in the research, development, manufacture, sale, and operation management of mining tires in China and internationally.

FerreycorpA

Market Cap: S/4.0b

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

Refrigeration Electrical Engineering

Market Cap: ₫29.0t

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

Austal

Market Cap: AU$1.5b

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

Morimatsu International Holdings

Market Cap: HK$8.2b

Designs, manufactures, installs, operates, and maintains core equipment, process systems, and solutions primarily for chemical reactions, biological reactions, and polymerization in Mainland China, North America, the rest of Asia, Europe, Africa, South America, Oceania, and internationally.

John Keells Holdings

Market Cap: LK₨346.9b

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¥6.9b

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

ShenZhen Click TechnologyLTD

Market Cap: CN¥6.7b

Manufactures and sells magnetic components and power solutions.

Yindu Kitchen Equipment

Market Cap: CN¥6.6b

Engages in the research, development, production, sale, and service of commercial catering equipment in China and internationally.

Chicony Power Technology

Market Cap: NT$30.7b

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.

LX International

Market Cap: ₩1.3t

Engages in the trading business in Korea and internationally.

Al-Babtain Power and Telecommunications

Market Cap: ر.س3.4b

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

Zhongtong Bus HoldingLTD

Market Cap: CN¥6.1b

Engages in the manufacture and sale of buses in China.

Jiangsu Libert

Market Cap: CN¥6.0b

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

Manitou BF

Market Cap: €765.3m

Engages in the development, manufacture, and distribution of equipment and services in France, Southern Europe, Northern Europe, the Americas, Asia, the Pacific, Africa, and the Middle East.

Guangdong Hongtu Technology (holdings)Ltd

Market Cap: CN¥5.9b

Designs, develops, manufactures, and sells precision aluminum alloy die castings and related accessories in China.

BHI

Market Cap: ₩1.2t

Engages in the development, manufacture, and supply of power plant equipment worldwide.

IPARK Hyundai Development

Market Cap: ₩1.2t

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

Chongqing Machinery & Electric

Market Cap: HK$6.8b

Designs, manufactures, and sells clean energy equipment and high-end smart manufacturing equipment.

Rayhoo Motor DiesLtd

Market Cap: CN¥5.5b

Engages in the automobile manufacturing equipment and automobile lightweight parts businesses in China and internationally.

GMR Power And Urban Infra

Market Cap: ₹77.4b

Engages in the energy, urban infrastructure, and transportation businesses in India.

TSK Electrónica y Electricidad

Market Cap: €701.7m

Provides infrastructure solutions for the energy transition, digitalization, and critical raw material handling industry.

Shenzhen Highpower Technology

Market Cap: CN¥5.5b

Engages in the research, design, development, manufacture, and sale of lithium-ion and nickel-metal hydride (Ni-MH) batteries in China and internationally.

Tokyu Construction

Market Cap: JP¥123.9b

Engages in the civil engineering and building construction businesses in Japan.

Suzhou West Deane New Power ElectricLtd

Market Cap: CN¥5.0b

An engineering and manufacturing company, engages in the research, design, production, and sale of electrical connection products in China and internationally.

Qingdao Hiron Commercial Cold Chain

Market Cap: CN¥4.8b

Qingdao Hiron Commercial Cold Chain Co., Ltd.

HDC HOLDINGSLtd

Market Cap: ₩988.1b

Engages in real estate development and construction activities in South Korea.

Viglacera

Market Cap: ₫17.0t

Manufactures and sells building materials in Vietnam.

Power Solutions International

Market Cap: US$641.5m

Designs, engineers, manufactures, markets, and sells engines and power systems in the United States, the rest of North America, the Pacific Rim, Europe, and internationally.

Kyung Dong Navien

Market Cap: ₩917.8b

Manufactures and sells machinery and heat combustion equipment in South Korea.

Raya Holding Company for Financial Investments (S.A.E)

Market Cap: ج.م32.1b

Operates in information technology, data center outsourcing, contact center, smart buildings, consumer electronics, food and beverage, land transport, E-payments, and non-banking financial services fields in Egypt and internationally.

Jiu Han System Technology

Market Cap: NT$19.8b

Provides engineering services in Taiwan.