Global Undervalued based on future growth

SK hynix

Market Cap: ₩907.3t

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

SK Square

Market Cap: ₩109.5t

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

Mercedes-Benz Group

Market Cap: €46.0b

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.

AngloGold Ashanti

Market Cap: US$47.5b

Operates as a gold mining company in Africa, Australia, and the Americas.

Shanghai Pudong Development Bank

Market Cap: CN¥312.4b

Shanghai Pudong Development Bank Co., Ltd.

China CSSC Holdings

Market Cap: CN¥309.8b

Engages in the shipbuilding and repair businesses in China.

People's Insurance Company (Group) of China

Market Cap: HK$339.1b

An investment holding company, offers insurance products and services in the People’s Republic of China and Hong Kong.

JD.com

Market Cap: US$40.7b

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¥265.8b

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

Bank of Ningbo

Market Cap: CN¥221.6b

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

Kimberly-Clark

Market Cap: US$31.9b

Manufactures and markets personal care products in the United States.

Vedanta

Market Cap: ₹3.0t

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

Honda Motor

Market Cap: JP¥5.0t

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

Bank of Jiangsu

Market Cap: CN¥209.2b

Provides various banking products and services in China.

FirstRand

Market Cap: R490.7b

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

Ecopetrol

Market Cap: Col$102.8t

Operates as an integrated energy company.

Humana

Market Cap: US$27.6b

Provides medical and specialty insurance products in the United States.

Banco do Brasil

Market Cap: R$123.9b

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

Nanya Technology

Market Cap: NT$728.2b

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

CSC Financial

Market Cap: HK$178.6b

Provides investment banking services in Mainland China and internationally.

MTN Group

Market Cap: R381.6b

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

HD Korea Shipbuilding & Offshore Engineering

Market Cap: ₩33.4t

HD Korea Shipbuilding & Offshore Engineering Co., Ltd.

BOE Technology Group

Market Cap: CN¥152.4b

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

Banco Santander (Brasil)

Market Cap: R$107.0b

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

Bank of Nanjing

Market Cap: CN¥145.0b

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

Guangdong Songfa CeramicsLtd

Market Cap: CN¥139.5b

Produces and sells ceramic products in China and internationally.

China International Capital

Market Cap: HK$155.1b

Provides financial services in Mainland China and internationally.

Saudi Energy

Market Cap: ر.س74.0b

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

Korea Electric Power

Market Cap: ₩28.6t

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

TS Financial Holding

Market Cap: NT$598.0b

Provides various financial products and services.

Zhejiang Century Huatong GroupLtd

Market Cap: CN¥128.3b

Engages in the auto parts, Internet games, and artificial intelligence cloud data businesses in China and internationally.

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¥126.1b

Provides various banking products and services in China.

Traton

Market Cap: €15.6b

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.