Chinese Undervalued over 20% based on DCF

Kweichow Moutai

Market Cap: CN¥1.8t

Produces and sells liquor products in China and internationally.

Foxconn Industrial Internet

Market Cap: CN¥1.1t

Provides smart manufacturing and industrial internet services in Mexico, Vietnam, Singapore, Mainland China, and internationally.

China Yangtze Power

Market Cap: CN¥646.0b

Engages in hydropower generation business in China, Portugal, Peru, Brazil, and Pakistan.

Midea Group

Market Cap: CN¥574.9b

Engages in the manufacture and sale of electrical appliance in China and internationally.

Luxshare Precision Industry

Market Cap: CN¥423.9b

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

Wuliangye YibinLtd

Market Cap: CN¥396.2b

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

CMOC Group

Market Cap: CN¥394.4b

Engages in the mining, beneficiation, and smelting of base and rare metals in Asia, Africa, South America, and Europe.

WuXi AppTec

Market Cap: CN¥320.7b

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.

Wanhua Chemical Group

Market Cap: CN¥278.8b

Provides polyurethane, petrochemical, and performance chemicals and materials worldwide.

Sungrow Power Supply

Market Cap: CN¥268.5b

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¥211.2b

Provides power intelligence solutions in China and internationally.

Qinghai Salt Lake IndustryLtd

Market Cap: CN¥198.0b

Manufactures and sells potash fertilizers in China and internationally.

Shenzhen Mindray Bio-Medical Electronics

Market Cap: CN¥191.3b

Shenzhen Mindray Bio-Medical Electronics Co., Ltd.

Haier Smart Home

Market Cap: CN¥184.3b

Engages in the research, development, production, and sales of smart home appliances.

Shandong Gold Mining

Market Cap: CN¥175.2b

Engages in mining, smelting, processing, and precious metals in the People’s Republic of China.

CRRC

Market Cap: CN¥173.1b

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.

Ganfeng Lithium Group

Market Cap: CN¥167.7b

Manufactures and sells lithium products in China.

Huatai Securities

Market Cap: CN¥159.0b

Provides securities and financial services for individual, enterprise, and institutional clients in Mainland China and internationally.

China Minsheng Banking

Market Cap: CN¥158.1b

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

China Merchants Energy Shipping

Market Cap: CN¥154.1b

China Merchants Energy Shipping Co., Ltd.

Luzhou LaojiaoLtd

Market Cap: CN¥150.9b

Produces and sells alcoholic products in China and internationally.

Fuyao Glass Industry Group

Market Cap: CN¥147.7b

Provides safety glass solutions and automotive accessories for various transportation vehicles in China and internationally.

GF Securities

Market Cap: CN¥137.3b

Provides capital market services in China.

Avary Holding(Shenzhen)Co

Market Cap: CN¥130.0b

Engages in the design, development, manufacture, and sale of printed circuit boards in China, the United States, rest of Asia, and Europe.

XCMG Construction Machinery

Market Cap: CN¥124.5b

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

Zhejiang Century Huatong GroupLtd

Market Cap: CN¥123.3b

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

Zhejiang Huayou Cobalt

Market Cap: CN¥115.1b

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

Anhui Conch Cement

Market Cap: CN¥114.7b

Manufactures, sells, and trades in clinker and cement products in China and internationally.

Zhejiang NHU

Market Cap: CN¥111.9b

Engages in the production and sale of nutrition, flavor and fragrance, and new polymer materials in the People’s Republic of China.

Eastroc Beverage (Group)

Market Cap: CN¥111.8b

Engages in the manufacturing and distribution of beverages in the People’s Republic of China.

Beijing Kingsoft Office Software

Market Cap: CN¥109.3b

Provides office software products and services in China and internationally.

Yunnan Baiyao GroupLtd

Market Cap: CN¥98.0b

Engages in the sale of pharmaceuticals, medicinal materials, health and daily chemical products in China.

Satellite ChemicalLtd

Market Cap: CN¥96.8b

A low-carbon chemical company, research, development, production, sale, and service of new electronic chemicals and functional materials in China and internationally.

Focus Media Information Technology

Market Cap: CN¥93.4b

Focus Media Information Technology Co., Ltd.

Aier Eye Hospital Group

Market Cap: CN¥89.3b

Operates as a ophthalmology chain medical company in China, Hong Kong, Europe, the United States, and Southeast Asia.

Shanghai Rural Commercial Bank

Market Cap: CN¥88.7b

Engages in commercial banking business in China.