Global Capital Goods Undervalued based on future growth

East China Engineering Science and Technology

Market Cap: CN¥7.3b

East China Engineering Science and Technology Co., Ltd.

Tianrun Industry Technology

Market Cap: CN¥7.2b

Manufactures and sells internal combustion engine crankshafts in China and internationally.

Aecon Group

Market Cap: CA$1.3b

Aecon Group Inc., together with its subsidiaries, provide construction and infrastructure development services to private and public sector clients in Canada, the United States, and internationally.

Manitou BF

Market Cap: €773.0m

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

Apogee Enterprises

Market Cap: US$890.9m

Provides architectural products and services for enclosing buildings, and glass and acrylic products used for preservation, protection, and enhanced viewing in the United States, Canada, and Brazil.

JOST Werke

Market Cap: €756.9m

Manufactures and supplies safety-critical systems for the commercial vehicle industry in Germany, Europe, North America, Asia, Pacific, and Africa.

Quanex Building Products

Market Cap: US$875.5m

Provides components for the fenestration industry in the United States, Europe, Canada, Asia, and internationally.

HDC HOLDINGSLtd

Market Cap: ₩1.2t

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

Aebi Schmidt Holding

Market Cap: US$814.0m

Develops and manufactures special-purpose vehicles and attachments.

LX International

Market Cap: ₩1.1t

Engages in the trading business in Korea and internationally.

Heidelberger Druckmaschinen

Market Cap: €672.6m

Manufactures, sells, and deals in printing presses and other print media industry products in Europe, the Middle East, Africa, the Asia Pacific, and the Americas.

Instalco

Market Cap: SEK 7.1b

Provides installation services in the electrical, heating and plumbing, ventilation, technical consulting, and industrial areas in Sweden and rest of the Nordics.

Morgan Advanced Materials

Market Cap: UK£546.5m

Manufactures and sells various carbon and ceramic products.

Runner (Xiamen)

Market Cap: CN¥5.3b

Engages in the research and development, design, production, and sale of kitchen and bathroom products, water purification products, and other products in China and internationally.

Mersen

Market Cap: €617.2m

Manufactures and sells electrical power products and advanced materials in France, North America, rest of Europe, the Asia-Pacific, and internationally.

SNT Energy

Market Cap: ₩968.3b

Operates in the machinery industry.

Insteel Industries

Market Cap: US$692.9m

Manufactures and markets steel wire reinforcing products for concrete construction applications.

Stabilus

Market Cap: €587.9m

Manufactures and sells gas springs, dampers, electromechanical damper opening systems, vibration isolation products, and industrial components in Europe, the Middle East, Africa, North and South America, the Asia-Pacific, and internationally.

INDUS Holding

Market Cap: €583.8m

A private equity firm specializing in mergers and acquisitions and corporate spin-offs.

Vietnam Construction and Import-Export

Market Cap: ₫17.1t

Engages in construction and property development activities in Vietnam and internationally.

Zhejiang Development GroupLtd

Market Cap: CN¥4.6b

Engages in the commodity, financial leasing, online retailing, car sale and after service, and warehousing logistics service businesses in China and internationally.

Guangzhou Haoyang ElectronicLtd

Market Cap: CN¥4.6b

Engages in the research and development, production engineering, manufacture, sale, and service of professional stage, TV, concert, theatre and architectural lighting products worldwide.

Changgao Electric Group

Market Cap: CN¥4.5b

Engages in the research, development, manufacture, and sale of power transmission equipment in the People's Republic of China.

J. Kumar Infraprojects

Market Cap: ₹52.2b

Engages in the construction business in India.

Next Geosolutions Europe

Market Cap: €508.8m

Provides marine geoscience and offshore construction support services in Europe, Asia, and North America.

Rosenbauer International

Market Cap: €494.7m

Engages in the provision of systems for preventive firefighting and disaster protection technology worldwide.

Central Glass

Market Cap: JP¥83.2b

Engages in the manufacture and sale of glass and glass fiber, fertilizer, and fine chemical products for customers in Japan and internationally.

L.K. Technology Holdings

Market Cap: HK$4.4b

An investment holding company, designs, manufactures, and sells machines, machining centres, and related accessories in Mainland China, Europe, North America, Central America, South America, and internationally.

Alligo

Market Cap: SEK 5.2b

Offers workwear, personal protection equipment, tools, and consumables in Sweden, Norway, and Finland.

Ryobi

Market Cap: JP¥77.3b

Operates as a die casting manufacturer in Japan, the United States, China, and internationally.

Horizon Construction Development

Market Cap: HK$4.1b

Operates as an investment holding company that provides equipment operation services in the People's Republic of China.

Wilson Bayly Holmes-Ovcon

Market Cap: R9.0b

Operates as a construction company in South Africa, rest of Africa, and the United Kingdom.

Korea Electric Terminal

Market Cap: ₩665.3b

Manufactures and sells parts for automotive and electronics in South Korea and internationally.

Miller Industries

Market Cap: US$476.0m

Manufactures and sells towing and recovery equipment.

Reunert

Market Cap: R8.4b

Operates in the fields of electrical engineering, information communication technologies (ICT), and applied electronics in South Africa, rest of Africa, the United States, Australia, Asia, and Europe.

Binastra Corporation Berhad

Market Cap: RM 2.0b

An investment holding company, engages in general contractor and property developer, building and civil engineering works in turnkey projects in Malaysia.