Chinese Capital Goods Undervalued over 20% based on DCF

CRRC

Market Cap: CN¥211.2b

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.

NARI Technology

Market Cap: CN¥175.1b

Provides power intelligence solutions in China and internationally.

Zhejiang Huayou Cobalt

Market Cap: CN¥80.5b

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

Ningbo Deye Technology Group

Market Cap: CN¥52.9b

Engages in the production and sales of heat exchangers, inverters, and dehumidifiers in South Africa, Brazil, Hongkong, Germany, India, and internationally.

Wuxi Lead Intelligent EquipmentLTD

Market Cap: CN¥45.2b

Develops, manufactures, and sells intelligent equipment in China.

Beijing New Building Materials

Market Cap: CN¥44.9b

Manufactures and sells building materials in China and internationally.

GEM

Market Cap: CN¥35.3b

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

Sany Renewable EnergyLtd

Market Cap: CN¥34.3b

Engages in the research and development, manufacture, and sale of wind turbines and generators in China.

State Grid YingdaLtd

Market Cap: CN¥32.5b

Engages in the electrical, trust, securities, futures, and carbon asset businesses in China.

Tiandi Science & TechnologyLtd

Market Cap: CN¥26.1b

Engages in the mine safety, smart equipment, design and construction, green development, clean and low carbon, and other businesses in China.

Neway Valve (Suzhou)

Market Cap: CN¥25.8b

Researches, develops, produces, and sells industrial valves in the People’s Republic of China and internationally.

Zhejiang Haikong Nanke Huatie Digital Intelligence and Technology

Market Cap: CN¥22.0b

Zhejiang Haikong Nanke Huatie Digital Intelligence and Technology Co., Ltd.

Henan Pinggao ElectricLtd

Market Cap: CN¥21.9b

Researches and develops, manufactures, sells, and services high voltage, super-high voltage, and ultra-high voltage AC/DC switchgear in China.

Shenzhen KSTAR Science and Technology

Market Cap: CN¥20.7b

Shenzhen KSTAR Science and Technology Co., Ltd.

Zhuhai CosMX Battery

Market Cap: CN¥20.6b

Manufactures and supplies polymer lithium-ion batteries worldwide.

Tibet Tianlu

Market Cap: CN¥20.6b

Engages in general contracting business in China.

Shanghai Tunnel Engineering

Market Cap: CN¥20.3b

Engages in the consulting, planning, design, investment, construction, and operation of urban infrastructure in China and internationally.

Beijing HyperStrong Technology

Market Cap: CN¥19.4b

Engages in the design, development, integration, and operation of energy storage power stations in China, Europe, North America, and Australia.

Harbin Boshi Automation

Market Cap: CN¥17.4b

Engages in the research and development, production, and sale of intelligent manufacturing equipment and industrial robots in the People’s Republic of China.

Zhuzhou Kibing GroupLtd

Market Cap: CN¥16.9b

Manufactures and sells glass in China and internationally.

Anhui HeliLtd

Market Cap: CN¥16.7b

Engages in the manufacture and sale of industrial vehicles in the People’s Republic of China.

Kunshan Kinglai Hygienic MaterialsLtd

Market Cap: CN¥15.9b

Kunshan Kinglai Hygienic Materials Co.,Ltd.

Fujian Longking

Market Cap: CN¥15.7b

Engages in the manufacture and sale of environmental protection equipment worldwide.

Guangdong Mingyang ElectricLtd

Market Cap: CN¥13.5b

Engages in the research, development, production, and sale of high/low voltage switchgear, transformer, and power transmission and distribution equipment in China.

NORINCO International Cooperation

Market Cap: CN¥13.1b

Operates as an engineering contractor in Asia, Africa, the Middle East, and internationally.

Lucky Harvest

Market Cap: CN¥12.2b

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

Shenzhen Sinexcel ElectricLtd

Market Cap: CN¥11.6b

Provides energy interconnection ecosystem in China, rest of Asia, Oceania, Europe, North America, South America, and Africa.

Yizumi Holdings

Market Cap: CN¥11.1b

Designs, researches and develops, manufactures, sells, and services various molding machines in China and internationally.

Zhejiang Construction Investment GroupLtd

Market Cap: CN¥10.7b

Engages in the construction business in China.

Asian Star Anchor Chain Jiangsu

Market Cap: CN¥10.5b

Engages in the manufacture and sale of anchor chains, marine mooring chains, and related accessories worldwide.

Xinjiang Communications Construction Group

Market Cap: CN¥10.4b

Xinjiang Communications Construction Group Co., Ltd.

Nancal TechnologyLtd

Market Cap: CN¥10.2b

Provides digital transformation solutions in China and internationally.

Fujian Nebula Electronics

Market Cap: CN¥9.7b

Develops, produces, and sells lithium battery pack testing equipment, energy storage intelligent converters, and charging piles in China.

Suzhou Gold Mantis Construction Decoration

Market Cap: CN¥9.6b

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

Shenyang Blue Silver Industry Automation Equipment

Market Cap: CN¥9.1b

Engages in the industrial cleaning and surface treatment, and industrial intelligent equipment manufacturing businesses in China.

Rayhoo Motor DiesLtd

Market Cap: CN¥8.8b

Designs, develops, manufactures, and sells stamping dies and auto welding lines in China and internationally.