Zambian Materials Defensive Blue Chips

Yangzhou Yangjie Electronic Technology

Market Cap: CN¥72.8b

Yangzhou Yangjie Electronic Technology Co., Ltd.

Suzhou Maxwell Technologies

Market Cap: CN¥72.7b

Engages in the design, research and development, production, and sale of solar cell production equipment in China.

Indus Towers

Market Cap: ₹1.0t

A telecom infrastructure company, engages in the operation and maintenance of wireless communication towers and related infrastructures for various telecom service providers in India, Nigeria, Uganda, and Zambia.

Encompass Health

Market Cap: US$10.6b

Operates inpatient rehabilitation hospitals in the United States and Puerto Rico.

Suzhou Everbright Photonics

Market Cap: CN¥72.0b

Engages in the research, development, packaging, and sale of optoelectronic devices and systems in China and internationally.

Manila Electric

Market Cap: ₱651.5b

Manila Electric Company holds a congressional franchise to construct, operate, and maintain an electric distribution system in the Philippines.

Alpha Bank

Market Cap: €9.3b

Provides various banking and financial products and services in Greece and internationally.

Lotus Bakeries

Market Cap: €9.3b

Provides various snack products in Belgium and internationally.

Allegro MicroSystems

Market Cap: US$10.5b

Designs, develops, manufactures, and markets sensor integrated circuits (ICs) and application-specific power ICs for sensing, motion control, and power management functions of complex electromechanical or power conversion systems.

Dairibord Holdings

Market Cap: US$1.4b

Manufactures, processes, markets, and distributes milk, food, and beverage products in Zimbabwe.

Marks and Spencer Group

Market Cap: UK£7.9b

Operates various retail stores.

Zhejiang Zheneng Electric Power

Market Cap: CN¥71.2b

Zhejiang Zheneng Electric Power Co., Ltd.

TIM

Market Cap: R$53.7b

Engages in the telecommunications sector in Brazil.

Busy Ming Group

Market Cap: HK$81.6b

Through its subsidiaries, operates as a food and beverage retailer in China.

Zions Bancorporation National Association

Market Cap: US$10.4b

Provides various banking products and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming.

Maxone Semiconductor (Suzhou)

Market Cap: CN¥70.4b

Engages in the research, design, development, production, and sale of semiconductor chip test probe cards in China and internationally.

SD Guthrie Berhad

Market Cap: RM 42.1b

Operates as an integrated plantations company in Malaysia and internationally.

China Zheshang Bank

Market Cap: HK$81.1b

Provides corporate and retail banking services in Mainland China.

Sichuan Chuantou EnergyLtd

Market Cap: CN¥70.2b

Engages in the clean energy business in China.

Globalstar

Market Cap: US$10.3b

Provides mobile satellite services in the United States, Canada, Europe, Central and South America, and internationally.

Budweiser Brewing Company APAC

Market Cap: HK$80.6b

An investment holding company, engages in brewing and distribution of beer in South Korea, Japan, New Zealand, China, India, Vietnam, Southeast Asia, and internationally.

Chongqing Rural Commercial Bank

Market Cap: HK$80.5b

Provides banking and related financial services in the People’s Republic of China.

Centrica

Market Cap: UK£7.7b

Operates as an integrated energy company in the United Kingdom, Ireland, Scandinavia, North America, and internationally.

Alchip Technologies

Market Cap: NT$329.0b

Engages in the research, design, development, and manufacturing of application specific integrated circuits and system on a chip in the United States, China, Japan, Taiwan, and internationally.

Old National Bancorp

Market Cap: US$10.2b

Operates as the bank holding company for Old National Bank that provides consumer and commercial banking services in the United States.

Vanguard International Semiconductor

Market Cap: NT$326.8b

Engages in manufacturing, selling, packaging, testing, and computer-aided design of integrated circuits and other semiconductor devices in Taiwan and internationally.

Beazley

Market Cap: UK£7.6b

Through its subsidiaries, provides risk insurance and reinsurance solutions in the United States, the United Kingdom, and rest of Europe.

ASMPT

Market Cap: HK$79.7b

An investment holding company, engages in the design, manufacture, and marketing of machines, tools, and materials used in the semiconductor and electronics assembly industries internationally.

Shree Cement

Market Cap: ₹963.7b

Engages in the manufacture and sale of cement and clinker in India and internationally.

Unigroup Guoxin Microelectronics

Market Cap: CN¥68.9b

Unigroup Guoxin Microelectronics Co., Ltd.

Vietnam Commercial Bank for Industry and Trade

Market Cap: ₫266.0t

Provides various banking products and services in Vietnam and internationally.

Mowi

Market Cap: NOK 99.0b

A seafood company, produces and sells Atlantic salmon products worldwide.

Novatek Microelectronics

Market Cap: NT$323.1b

A fabless chip design company, designs, develops and sells a range of display driver integrated circuits (IC) and system-on-a-chip (SoC) solutions in Taiwan, Asia, and internationally.

Anji Microelectronics Technology (Shanghai)

Market Cap: CN¥68.3b

Researches, develops, manufactures, and sells semiconductor materials in China and internationally.

CPFL Energia

Market Cap: R$51.7b

Through its subsidiaries, operates as an energy company in Brazil.

J Sainsbury

Market Cap: UK£7.5b

Engages in the food, general merchandise and clothing retailing, and financial services activities in the United Kingdom.