Global Materials Undervalued over 20% based on DCF

Yong Jie New MaterialLtd

Market Cap: CN¥8.8b

Engages in the research and development, manufacture, and sale of aluminum alloy products worldwide.

Macmahon Holdings

Market Cap: AU$1.9b

Provides surface mining, underground mining and mining support, and civil infrastructure services to mining companies in Australia and Southeast Asia.

Nan Pao Resins Chemical

Market Cap: NT$40.9b

Engages in the manufacturing, wholesale, and retail sale of synthetic resins and plastics, adhesives, resin coatings, dyes, and pigments in Taiwan, rest of Asia, Oceania, Europe, Africa, and America.

China BlueChemical

Market Cap: HK$9.4b

Engages in the processing of natural gas and the development, production, and sale of chemical fertilizers and chemical products in the People’s Republic of China and internationally.

COFCO Biotechnology

Market Cap: CN¥8.1b

Engages in the processing of agricultural products in China.

Zhejiang Huangma TechnologyLtd

Market Cap: CN¥8.1b

Engages in the research, development, production, and sale of surfactants in China and internationally.

Boubyan Petrochemical Company K.S.C.P

Market Cap: د.ك368.7m

Manufactures and sells petrochemical products in Kuwait, other MENA countries, Asia, South America and North America, and internationally.

Elementis

Market Cap: UK£885.3m

Operates as a specialty chemical company in the United Kingdom, rest of Europe, North America, and internationally.

i-80 Gold

Market Cap: CA$1.7b

A mining company, engages in the exploration and advancement of gold and silver mineral deposits in the United States.

Hemlo Mining

Market Cap: CA$1.7b

Engages in the production and operation of gold mining assets in Canada.

Yongjin Technology Group

Market Cap: CN¥7.9b

Engages in the research, development, production, and sale of cold-rolled stainless-steel strips in China.

Poongsan

Market Cap: ₩1.7t

Manufactures and sells copper and copper-related products in South Korea and internationally.

AMAG Austria Metall

Market Cap: €952.1m

Engages in the production, processing, and sale of aluminum, aluminum semi-finished, and cast products in Austria, Europe, North America, and internationally.

Chugoku Marine Paints

Market Cap: JP¥174.9b

Produces and sells functional coatings worldwide.

Monarch Cement

Market Cap: US$1.0b

Engages in the manufacture and sale of portland cement in the United States.

Sandur Manganese & Iron Ores

Market Cap: ₹99.1b

Together with its subsidiary, engages in the mining of manganese and iron ores in Deogiri village of Ballari District, Karnataka.

Avia Avian

Market Cap: Rp18.7t

Manufactures and distributes paints and building materials in Indonesia.

MEC

Market Cap: JP¥165.1b

Engages in the research and development, production, and sale of chemicals, equipment, and related materials for the production of printed circuit boards in Japan, Taiwan, Hong Kong, China, Thailand, and Europe.

Avino Silver & Gold Mines

Market Cap: CA$1.4b

Engages in the acquisition, exploration, and advancement of mineral properties in Mexico.

Fuji Seal International

Market Cap: JP¥158.3b

Engages in planning, proposal, development, manufacturing, and sales of packaging systems.

Sociedad Minera El BrocalA

Market Cap: S/3.3b

Engages in the extraction, concentration, and marketing of polymetallic minerals in Peru, Asia, Europe, and internationally.

Corticeira Amorim S.G.P.S

Market Cap: €845.9m

Engages in the acquisition and transformation of cork into various cork and cork-related products in Portugal, Switzerland, Norway, the rest of the European Union, the rest of Europe, the United States, the rest of the American countries, Australasia, and Africa.

Shandong Bohui Paper IndustryLtd

Market Cap: CN¥6.6b

Researches, develops, produces, sells, imports, and exports paper products in China.

Tronox Holdings

Market Cap: US$960.3m

Operates as a manufacturer of TiO2 pigment in North America, South and Central America, Europe, the Middle East, Africa, and the Asia Pacific.

UNACEM CorpA

Market Cap: S/3.2b

Produces, markets, and sells various types of cement, clinker, and concrete products in Peru, the United States, Ecuador, Colombia, and Chile.

Jayaswal Neco Industries

Market Cap: ₹85.8b

Engages in the manufacture and sale of steel products and iron and steel castings in India.

Double Bond Chemical Ind

Market Cap: NT$28.7b

Manufactures and sells fine chemicals with focus on the polymer and UV-coating industries in Taiwan and internationally.

Zhejiang Hailide New MaterialLtd

Market Cap: CN¥6.0b

Engages in the research, development, production, and sales of chemical fibers, other textile materials, and rubber and plastic products in China and internationally.

Beijing Kingee Culture Development

Market Cap: CN¥5.9b

Engages in the design, research and development, and sale of gold and jewelry under the Jinyi, Yuewang Jewelry, and Yue Wang Ancient Gold brands in China.

Dexco

Market Cap: R$4.4b

Produces and sells wooden panels in Brazil and internationally.

Jiangsu Asia-Pacific Light Alloy Technology

Market Cap: CN¥5.8b

Jiangsu Asia-Pacific Light Alloy Technology Co., Ltd.

Sharda Cropchem

Market Cap: ₹80.5b

A crop protection chemical company, provides various formulations and generic active ingredients worldwide.

Hokuetsu

Market Cap: JP¥136.4b

Manufactures and sells paper products in Japan, the rest of Asia, North America, and internationally.

Jiangsu Kuangshun Photosensitivity New-Material Stock

Market Cap: CN¥5.6b

Jiangsu Kuangshun Photosensitivity New-Material Stock Co., Ltd.

Vontron Technology

Market Cap: CN¥5.5b

Researches, develops, manufactures, and sells separation membranes and related materials in China and internationally.

T. Hasegawa

Market Cap: JP¥130.9b

Produces, sells, imports, and exports fragrances, flavors, aromatic chemicals, food additives, and foods in Japan, China, the rest of Asia, the United States, and internationally.