Chinese Capital Goods Undervalued over 20% based on DCF

Sungrow Power Supply

Market Cap: CN¥254.1b

Engages in the research and development, production, sale, and service of new energy power equipment for solar energy, wind energy, energy storage, and electric vehicles.

NARI Technology

Market Cap: CN¥208.0b

Provides power intelligence solutions in China and internationally.

CRRC

Market Cap: CN¥169.8b

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.

XCMG Construction Machinery

Market Cap: CN¥124.4b

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

Zhejiang Huayou Cobalt

Market Cap: CN¥111.5b

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

Beijing New Building Materials

Market Cap: CN¥44.0b

Manufactures and sells building materials in China.

L&K Engineering (Suzhou)Ltd

Market Cap: CN¥42.5b

Engages in the provision of specialized engineering technical services in China.

GEM

Market Cap: CN¥40.3b

Operates in the waste resource comprehensive utilization industry in China and internationally.

Ningbo Sanxing Medical ElectricLtd

Market Cap: CN¥36.1b

Manufactures and sells power distribution in China and internationally.

Avic Aviation High-Technology

Market Cap: CN¥35.7b

Researches, develops, manufactures, and sells aviation new materials and intelligent equipment in China.

Zhejiang Dingli MachineryLtd

Market Cap: CN¥25.2b

Engages in the manufacture of aerial work platforms in China and internationally.

Higold Group

Market Cap: CN¥24.2b

Engages in the research, production, and sale of home hardware products worldwide.

Tiandi Science & TechnologyLtd

Market Cap: CN¥23.6b

Engages in the research, technology development, equipment development, engineering demonstration, testing, and inspection activities for the coal industry in China.

China Railway Hi-tech Industry

Market Cap: CN¥17.8b

Manufactures and sells infrastructure construction equipment worldwide.

Zhuhai CosMX Battery

Market Cap: CN¥17.7b

Manufactures and supplies polymer lithium-ion batteries worldwide.

NORINCO International Cooperation

Market Cap: CN¥17.4b

Engages in the engineering construction and services, resources and equipment supply chain, power operations, and industrial manufacturing businesses in China and internationally.

Shantui Construction Machinery

Market Cap: CN¥17.4b

Manufactures and sells construction machinery products in China and internationally.

Sumec

Market Cap: CN¥17.0b

Engages in the supply and industrial chain business in China.

Yantai Eddie Precision Machinery

Market Cap: CN¥16.7b

Engages in the development, production, and sale of hydraulic attachments for construction machinery and marines in China.

China CAMC Engineering

Market Cap: CN¥14.2b

Engages in construction, project management, machine operation, and maintenance business.

East GroupLtd

Market Cap: CN¥14.2b

Designs, produces, and sells power supply products and solutions in China and internationally.

Weichai Heavy Machinery

Market Cap: CN¥12.6b

Manufactures and sells medium- and high-speed diesel engines, generator sets, propulsion systems, and integrated power systems for the marine and power generation equipment markets in China.

Xianheng International Science&Technology

Market Cap: CN¥12.0b

Xianheng International Science&Technology Co., Ltd.

Beijing Beimo High-tech Frictional MaterialLtd

Market Cap: CN¥11.8b

Engages in the research and development, production, and sale of brake products for military aircraft and ground equipment.

Jangho Group

Market Cap: CN¥10.4b

Engages in the building decoration and medical health businesses in China and internationally.

Hangzhou Zhongtai Cryogenic Technology

Market Cap: CN¥10.3b

Develops, designs, manufactures, and sells cryogenic equipment in China.

China National Electric Apparatus Research Institute

Market Cap: CN¥10.2b

China National Electric Apparatus Research Institute Co., Ltd.

Jiangsu Ankura Intelligent Electric

Market Cap: CN¥9.3b

Jiangsu Ankura Intelligent Electric Co., Ltd.

Ficont Industry (Beijing)

Market Cap: CN¥9.0b

Provides wind energy, construction, and safety protection equipment in China and internationally.

Suzhou Gold Mantis Construction Decoration

Market Cap: CN¥8.8b

Engages in the design and construction of interior decoration, curtain walls, furniture, and landscape in China.

WindSun Science&TechnologyLtd

Market Cap: CN¥8.0b

Engages in the research and development, production, sale, and service of power electronic energy-saving control technology and related products in China.

Changjiang & Jinggong Steel Building (Group)

Market Cap: CN¥7.9b

Designs, manufactures, constructs, and installs steel structures in China and internationally.

Beijing New Space Technology

Market Cap: CN¥7.8b

Engages in the provision of professional contracting services for urban and road lighting engineering.

Shijiazhuang Kelin Electric

Market Cap: CN¥7.8b

Operates in the electrical machinery and equipment manufacturing industry in China and internationally.

Lucky Harvest

Market Cap: CN¥7.8b

Engages in the research, development, production, and sale of precision stamping dies and structural metal parts in China.

Power HF

Market Cap: CN¥7.8b

Researches and develops, manufactures, and sells diesel engines in China and internationally.