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Cheapest profitable fintech on every multiple — 9.5× P/E, 22% net margin, shrinking share count, take-rate stable through PIX.

Debt-free single-asset gold miner (Asanko, Ghana) printing cash at $4,500/oz — 14–16% FCF yield and a mill-expansion catalyst.

Cross-border SMB payments network with a fresh trust-bank charter — interest income on the float plus a lending ramp, at a single-digit forward multiple.

IoT PaaS with ~$1.02B cash (>70% of market cap), an F-score of 9, and an HK dual listing as delisting insurance.

VIPS is the cheapest profitable name in China e-commerce. It trades at 5.8× earnings, 4.9× forward, 0.41× sales and 2.05× EV/EBITDA, with $3.41B of net cash under a $6.4B market cap, about 53% of it. Strip out the cash and the operating business is priced near 2× EBITDA. FY2025 free cash flow was $794M, a 12.3% yield, and it funds a 4.6% dividend plus buybacks that cut the ordinary share count about 21% in three years ($944M returned in 2025). This isn't a growth story. FY2025 revenue fell 2.3% in renminbi. But Q1 2026 turned back to +1.2% with operating margin up to 9.4%, so the slide looks like it's bottoming. Founders Shen and Hong control 66.4% of the votes, and Tencent owns 13.38%. It's a Cayman and VIE ADR, and that fear plus the no-growth label is most of the discount, not the balance sheet.