Chinese Undervalued over 20% based on DCF

Kweichow Moutai

Market Cap: CN¥1.8t

Produces and sells liquor products in China and internationally.

Contemporary Amperex Technology

Market Cap: CN¥1.2t

Engages in the development, production, sale, and energy storage batteries and systems worldwide.

China Merchants Bank

Market Cap: CN¥1.1t

Provides various banking products and services.

China Yangtze Power

Market Cap: CN¥684.9b

Engages in operation, management, consultation, investment, and financing of hydropower stations in the People’s Republic of China, Portugal, Peru, Brazil, and Pakistan.

Midea Group

Market Cap: CN¥540.4b

Manufactures and sells home appliances, and robotic and automation systems in China and internationally.

Wuliangye YibinLtd

Market Cap: CN¥469.7b

Manufactures and sells liquor and wine products under the Wuliangye brand in China.

Shanghai Pudong Development Bank

Market Cap: CN¥391.1b

Shanghai Pudong Development Bank Co., Ltd.

Shenzhen Mindray Bio-Medical Electronics

Market Cap: CN¥274.8b

Shenzhen Mindray Bio-Medical Electronics Co., Ltd.

Luxshare Precision Industry

Market Cap: CN¥265.7b

Designs, manufactures, and sells cable assembly and connector system solutions worldwide.

WuXi AppTec

Market Cap: CN¥264.8b

An investment holding company, provides research and manufacturing services to discover, develop, and manufacture spectrum for small molecule drugs in the People’s Republic of China, the United States, Europe, and internationally.

Zhongji Innolight

Market Cap: CN¥234.0b

Engages in the research and development, production, and sales optical communication transceiver modules and optical devices in China.

S.F. Holding

Market Cap: CN¥231.3b

Engages in the logistics and freight forwarding services in China and internationally.

China Everbright Bank

Market Cap: CN¥230.2b

Provides a range of financial products and services to corporations and government agencies, retail customers, and individuals in Mainland China, Hong Kong, Luxembourg, Macao, Seoul, and Sydney.

Shanxi Xinghuacun Fen Wine FactoryLtd

Market Cap: CN¥218.3b

Shanxi Xinghuacun Fen Wine Factory Co.,Ltd.

Bank of Jiangsu

Market Cap: CN¥209.9b

Provides various banking products and services in China.

CRRC

Market Cap: CN¥199.6b

CRRC Corporation Limited, with its subsidiaries, engages in the research and development, design, manufacture, refurbishment, sale, leasing, and technical servicing of railway locomotives in Mainland China and internationally.

Bank of Ningbo

Market Cap: CN¥188.1b

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

Luzhou LaojiaoLtd

Market Cap: CN¥181.1b

Produces and sells alcoholic products in China and internationally.

NARI Technology

Market Cap: CN¥174.7b

Provides power intelligence solutions in China and internationally.

Inner Mongolia Yili Industrial Group

Market Cap: CN¥173.4b

Inner Mongolia Yili Industrial Group Co., Ltd.

China United Network Communications

Market Cap: CN¥166.3b

Provides various telecommunication services in the People’s Republic of China.

Eastroc Beverage(Group)

Market Cap: CN¥148.2b

Engages in the research and development, production, and sales of beverages in China.

Fuyao Glass Industry Group

Market Cap: CN¥141.4b

Engages in the provision of safety glass solutions and automotive accessories for various transportation vehicles in China and internationally.

Hua Xia Bank

Market Cap: CN¥126.2b

Provides commercial banking services in China and Hong Kong.

Shandong Gold Mining

Market Cap: CN¥125.8b

Engages in the exploration, mining, processing, smelting, and selling of gold and silver ores in the People’s Republic of China.

SDIC Power Holdings

Market Cap: CN¥124.8b

Engages in the electricity generation business in China.

Yunnan Baiyao GroupLtd

Market Cap: CN¥100.4b

Engages in the pharmaceutical business in China, Southeast Asia, Europe, the United States, Japan, and internationally.

Qinghai Salt Lake IndustryLtd

Market Cap: CN¥95.2b

Manufactures and sells potash fertilizers in China.

Zhejiang Century Huatong GroupLtd

Market Cap: CN¥94.8b

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

Guangdong Haid Group

Market Cap: CN¥94.0b

Research, develops, designs, produces, sells, and services animal feed products in China and internationally.

Shenzhen Transsion Holdings

Market Cap: CN¥90.2b

Provides smart devices and mobile services in Africa, South and Southeast Asia, the Middle East, Latin America, and internationally.

Shanghai Rural Commercial Bank

Market Cap: CN¥87.5b

Provides a range of banking products and services to individual and corporate customers in China.

Goertek

Market Cap: CN¥79.0b

Provides micro electro-acoustic components, optical components, electronic accessories, and related products worldwide.

Huadong Medicine

Market Cap: CN¥76.5b

Engages in the wholesale and retail of pharmaceutical products in China and internationally.

China Merchants Expressway Network & Technology HoldingsLtd

Market Cap: CN¥75.8b

China Merchants Expressway Network & Technology Holdings Co.,Ltd.

Zhejiang Huayou Cobalt

Market Cap: CN¥72.2b

Engages in the research, development, manufacture, and sale of lithium battery materials and diamond material products in China and internationally.