Global Undervalued based on future growth

PDD Holdings

Market Cap: US$143.4b

A multinational commerce group, owns and operates a portfolio of businesses.

UBS Group

Market Cap: CHF 75.7b

Provides financial advice and solutions to private, institutional, and corporate clients worldwide.

Investor

Market Cap: SEK 877.0b

A private equity firm specializing in mature, middle market, buyouts and growth capital investments.

Micron Technology

Market Cap: US$89.2b

Designs, develops, manufactures, and sells memory and storage products in the United States, Taiwan, Mainland China, rest of the Asia Pacific, Hong Kong, Japan, Europe, and internationally.

SK hynix

Market Cap: ₩127.1t

Engages in the manufacture, distribution, and sale of semiconductor products in Korea, China, rest of Asia, the United States, and Europe.

Hon Hai Precision Industry

Market Cap: NT$1.9t

Provides electronic manufacturing services.

3i Group

Market Cap: UK£40.6b

A private equity firm specializing in mature companies, growth capital, middle markets, infrastructure, and management leveraged buyouts and buy-ins.

China CITIC Bank

Market Cap: HK$402.9b

Provides various banking products and services in the People’s Republic of China and internationally.

Deutsche Bank

Market Cap: €43.8b

A stock corporation, provides corporate and investment banking, private clients, and asset management products and services in Germany, the United Kingdom, rest of Europe, the Middle East, Africa, the Americas, and the Asia-Pacific.

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¥310.8b

Shanghai Pudong Development Bank Co., Ltd.

Naspers

Market Cap: R791.1b

Operates in the consumer internet industry in Africa, Asia, Europe, Latin America, North America, and internationally.

Oil and Natural Gas

Market Cap: ₹3.1t

Engages in the exploration, development, and production of crude oil and natural gas in India and internationally.

CITIC

Market Cap: HK$267.6b

Operates in the financial services, advanced intelligent manufacturing, advanced materials, consumption, and urbanization businesses in the Mainland of China, Hong Kong, Macau, Taiwan, and internationally.

Hyundai Motor

Market Cap: ₩41.3t

Manufactures and distributes motor vehicles and parts worldwide.

Banco do Brasil

Market Cap: R$159.9b

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

Sun Hung Kai Properties

Market Cap: HK$209.7b

Develops and invests in properties for sale and rent in Hong Kong, Mainland China, and internationally.

Stellantis

Market Cap: €23.6b

Engages in the design, engineering, manufacturing, distribution, and sale of automobiles and light commercial vehicles, engines, transmission systems, metallurgical products, mobility services, and production systems worldwide.

China Tower

Market Cap: HK$194.0b

Provides telecommunication tower infrastructure services in the People's Republic of China.

Bank of Jiangsu

Market Cap: CN¥182.2b

Provides various banking products and services in China.

Carnival Corporation &

Market Cap: US$24.3b

A cruise company, provides leisure travel services in North America, Australia, Europe, and internationally.

Great Wall Motor

Market Cap: HK$179.6b

Engages in the manufacturing and sales of automobiles, and automotive parts and components in China, Europe, ASEAN countries, Latin America, the Middle East, Australia, South Africa, and internationally.

ArcelorMittal

Market Cap: €20.0b

Operates as integrated steel and mining companies in the Americas, Europe, Asia, and Africa.

CSC Financial

Market Cap: HK$175.1b

Provides investment banking services in Mainland China and internationally.

Bank of Ningbo

Market Cap: CN¥163.4b

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

Nippon Steel

Market Cap: JP¥3.1t

Engages in steelmaking and steel fabrication, engineering and construction, chemicals and materials, and system solutions businesses in Japan and internationally.

Indian Oil

Market Cap: ₹1.9t

Indian Oil Corporation Limited, together with its subsidiaries, refines, pipeline transports, and markets petroleum products in India and internationally.

CK Hutchison Holdings

Market Cap: HK$165.6b

An investment holding company, primarily operates in ports and related services, retail, infrastructure, and telecommunications businesses in Hong Kong, Mainland China, Europe, Canada, Asia, Australia, and internationally.

Super Micro Computer

Market Cap: US$21.3b

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

BOE Technology Group

Market Cap: CN¥142.4b

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

Steel Dynamics

Market Cap: US$19.1b

Operates as a steel producer and metal recycler in the United States.

Vedanta

Market Cap: ₹1.6t

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

ASE Technology Holding

Market Cap: NT$597.6b

Provides semiconductors packaging and testing, and electronic manufacturing services in the United States, Taiwan, Asia, Europe, and internationally.

Bank of Beijing

Market Cap: CN¥131.1b

Provides various banking services to personal and corporate customers in China.

China Communications Construction

Market Cap: HK$139.1b

Engages in the infrastructure construction, infrastructure design, and dredging businesses.

China Railway Group

Market Cap: CN¥129.5b

Operates as a multi-functional integrated construction company in Mainland China and internationally.