Global Undervalued based on future growth

SK hynix

Market Cap: ₩912.2t

Research, develops manufactures, and sells semiconductor devices in Korea, China, rest of Asia, the United States, and Europe.

SK Square

Market Cap: ₩107.0t

Invests in semiconductor, and information and communication technologies in South Korea, China, Asia, the United States, and Europe.

Mercedes-Benz Group

Market Cap: €47.0b

Operates as an automotive company in Europe, Germany, North America, the United States, Asia, China, and internationally.

Sberbank of Russia

Market Cap: ₽3.0t

Sberbank of Russia, together with its subsidiaries, provides corporate and retail banking products and services to individuals, small businesses, corporate clients, and financial institutions.

Shanghai Pudong Development Bank

Market Cap: CN¥312.1b

Shanghai Pudong Development Bank Co., Ltd.

JD.com

Market Cap: US$40.8b

Operates as a supply chain-based technology and service provider in the People’s Republic of China and Europe.

Oil and Natural Gas

Market Cap: ₹3.8t

Engages in the exploration, development, production, and distribution of crude oil, natural gas, and value-added products in India and internationally.

Muyuan Foods

Market Cap: CN¥258.0b

Operates as a pork company in the hog farming industry in China.

Kimberly-Clark

Market Cap: US$32.5b

Manufactures and markets personal care products in the United States.

Bank of Ningbo

Market Cap: CN¥219.6b

Provides various personal and business banking products and services in the People's Republic of China.

Honda Motor

Market Cap: JP¥5.0t

Develops, manufactures, and distributes motorcycles, automobiles, and power products in Japan, North America, Europe, Asia, and internationally.

Vedanta

Market Cap: ₹2.9t

A diversified natural resources company, explores, extracts, and processes minerals, and oil and gas in India, Europe, China, the United States, Mexico, and internationally.

Bank of Jiangsu

Market Cap: CN¥208.5b

Provides various banking products and services in China.

FirstRand

Market Cap: R489.8b

Provides transactional, lending, investment, and insurance products and services in South Africa, rest of Africa, the United Kingdom, and internationally.

Banco do Brasil

Market Cap: R$128.5b

Provides banking products and services for individuals, companies, and public sectors in Brazil and internationally.

Nanya Technology

Market Cap: NT$735.9b

Research, develops, manufactures, and sells semiconductor products in Taiwan, Japan, Malaysia, China, the United States, Thailand, Germany, Singapore, Poland and internationally.

MTN Group

Market Cap: R378.6b

Provides mobile telecommunications services in South Africa, Nigeria, South and East Africa, West and Central Africa, and the Middle East and North Africa.

CSC Financial

Market Cap: HK$176.4b

Provides investment banking services in Mainland China and internationally.

HD Korea Shipbuilding & Offshore Engineering

Market Cap: ₩33.1t

HD Korea Shipbuilding & Offshore Engineering Co., Ltd.

Banco Santander (Brasil)

Market Cap: R$110.8b

Provides various banking products and services to individuals, small and medium enterprises, and corporate customers in Brazil and internationally.

BOE Technology Group

Market Cap: CN¥151.7b

Operates display, Internet of Things (IoT) innovation, sensor, and MLED, smart medicine engineering, and other business in Mainland China and internationally.

Bank of Nanjing

Market Cap: CN¥144.4b

Engages in the provision of various financial products and services in China.

Guangdong Songfa CeramicsLtd

Market Cap: CN¥138.5b

Produces and sells ceramic products in China and internationally.

China International Capital

Market Cap: HK$154.3b

Provides financial services in Mainland China and internationally.

Saudi Energy

Market Cap: ر.س73.2b

Generates, transmits, and distributes electricity in the Kingdom of Saudi Arabia.

Korea Electric Power

Market Cap: ₩28.7t

Engages in the generation, transmission, and distribution of electricity in South Korea and internationally.

TS Financial Holding

Market Cap: NT$606.7b

Provides various financial products and services.

Global Payments

Market Cap: US$18.7b

Provides payment technology and software solutions for card, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific.

Bank of Hangzhou

Market Cap: CN¥126.4b

Provides various banking products and services in China.

Traton

Market Cap: €15.7b

Manufactures and sells commercial vehicles in Germany, rest of Europe, the United States of America, rest of North America, Brazil, rest of South America, and internationally.

China Galaxy Securities

Market Cap: HK$136.9b

Provides various financial services in China, Hong Kong, and internationally.

Aldar Properties PJSC

Market Cap: د.إ64.1b

Engages in real estate development, investment, construction, leasing, management, sale, and associated services in the United Arab Emirates.

XCMG Construction Machinery

Market Cap: CN¥117.8b

Engages in the manufacturing and sale of construction machinery in China.

Kaspi.kz

Market Cap: US$17.0b

Provides payments, marketplace, and fintech solutions for consumers and merchants in Kazakhstan, Azerbaijan, and Ukraine.

Raiffeisen Bank International

Market Cap: €14.5b

Offers banking services to corporate, retail, and institutional customers.

Super Micro Computer

Market Cap: US$16.7b

Develops and sells server and storage solutions based on modular and open-standard architecture in the United States, Asia, Europe, and internationally.