Global Capital Goods Undervalued based on future growth

Raubex Group

Market Cap: R8.2b

Engages in the infrastructure development and construction materials business in South Africa, Australia, rest of Africa, and internationally.

LX Holdings

Market Cap: ₩632.8b

Through its subsidiaries, engages in the energy, palm, living resources, logistics, living space, silicon works, and materials and solutions businesses.

West Holdings

Market Cap: JP¥65.4b

Engages in the renewable energy business in Japan and internationally.

Changshu Tongrun Auto Accessory

Market Cap: CN¥3.2b

Changshu Tongrun Auto Accessory Co., Ltd.

China Aircraft Leasing Group Holdings

Market Cap: HK$3.4b

An investment holding company, provides aircraft leasing services to airline companies in Mainland China and internationally.

China State Construction Development Holdings

Market Cap: HK$3.4b

An investment holding company, engages in the general contracting business in Hong Kong and internationally.

Kuo Toong International

Market Cap: NT$12.9b

Engages in the design, production, and assembly of water supply and division pipes in Taiwan and Mainland China.

Trusval Technology

Market Cap: NT$12.7b

Provides solutions in the field of water supply system, waste treatment, and system integration.

Nilfisk Holding

Market Cap: DKK 2.5b

Develops, manufactures, and sells cleaning solutions and services worldwide.

Torishima Pump Mfg

Market Cap: JP¥57.4b

Manufactures and sells various pumps in Japan and internationally.

Star Micronics

Market Cap: JP¥57.4b

Produces and sells machine tools and special products in Japan, Europe, the United States, and Asia.

Jiangshan Oupai Door Industry

Market Cap: CN¥2.6b

Engages in the research, development, manufacture, processing, sale, and service of wooden doors in China and internationally.

Deceuninck

Market Cap: €306.5m

Engages in the design, manufacture, recycling, and distribution of multi-material window, door, and building solutions in Europe, North America, Turkey, and internationally.

PC1 Group

Market Cap: ₫9.4t

Engages in the construction, industrial production, real estate, energy, trading, exploitation and operation of industrial zone, mining, and other businesses in Vietnam.

Patel Engineering

Market Cap: ₹30.5b

Provides infrastructure and construction services in India and internationally.

Suzhou Invotech Scroll Technologies

Market Cap: CN¥2.3b

Suzhou Invotech Scroll Technologies Co., Ltd.

Solar

Market Cap: DKK 2.0b

Operates as a sourcing and services company in electrical, heating and plumbing, ventilation, and climate and energy solutions in the Danish, Swedish, Norwegian, and Dutch markets.

Vp

Market Cap: UK£229.1m

Provides equipment rental and related services in the United Kingdom and internationally.

Sun.King Technology Group

Market Cap: HK$2.4b

An investment holding company, manufactures and trades in power electronic components for use in power transmission and distribution, electrified transportation, industrial, and other sectors in the People’s Republic of China.

BAUER

Market Cap: €262.5m

Provides services, equipment, and products related to ground and groundwater in Germany, Europe, the Middle East, the Asia Pacific, the Americas., and Africa.

Compagnie Chargeurs Invest

Market Cap: €260.6m

Operates as an industrial and financial company in France, Italy, Germany, the United States, Mainland China, Hong Kong, the United Kingdom, and internationally.

Hudaco Industries

Market Cap: R5.2b

Imports and distributes automotive, industrial, and electrical consumable products in South Africa and internationally.

Nippon Thompson

Market Cap: JP¥42.0b

Develops, manufactures, and sells needle roller bearings, linear motion rolling guides, precision positioning tables, and machine components under the IKO brand in Japan, North America, Europe, China, Singapore, Malaysia, and India.

Orion Group Holdings

Market Cap: US$282.9m

Operates as a specialty construction company in the infrastructure, industrial, and building sectors in the United States, Alaska, Hawaii, Canada, and the Caribbean Basin.

Compagnie d'Entreprises CFE

Market Cap: €240.1m

Engages in the real estate, multitechnics, construction and renovation, and sustainable investment businesses in Belgium, Poland, Luxembourg, and internationally.

Brickability Group

Market Cap: UK£196.5m

Distributes specialist products and services to the construction industry in the United Kingdom.It operates through four segments: Bricks and Building Materials; Importing; Distribution; and Contracting.

TK Group (Holdings)

Market Cap: HK$2.0b

An investment holding company, engages in the manufacture, sale, subcontracting, fabrication, and modification of molds and plastic components.

SCG Decor

Market Cap: ฿7.9b

Through its subsidiaries, produces and distributes of ceramic tiles, sanitary ware, and other related products and services in Thailand, Vietnam, and internationally.

KAP

Market Cap: R4.3b

Engages in industrial, chemical, and logistics businesses in South Africa, rest of Africa, the Americas, Europe, the Middle East, and Australasia.

Armac Locação Logística e Serviços

Market Cap: R$1.3b

Engages in leasing machines, equipment, and services in Brazil.

National Aerospace Fasteners

Market Cap: NT$6.9b

Engages in the manufacture, processing, agency, and trading of various types of fasteners and construction parts and related components of aircraft and automobiles in Taiwan and internationally.

APT Electronics

Market Cap: HK$1.8b

Manufactures and sells intelligent vision products and system solutions in Mainland China and internationally.

NittokuLtd

Market Cap: JP¥34.1b

Develops, manufactures, sells, and services automatic winding machines, and related machinery and parts in Japan and internationally.

Maezawa Industries

Market Cap: JP¥32.5b

Designs, manufactures, sells, and installs equipment and apparatus for water supply and sewage systems in Japan and internationally.

Hyundai

Market Cap: ₩303.8b

Operates as an import and export trading company worldwide.

Zumtobel Group

Market Cap: €186.3m

Operates in the lighting industry worldwide.