Dongbei Securities' Research Reports indicate that Huaxin Cement (600801.SH) is one of the earliest cement companies in China, a global building materials group, with a background of foreign and state-owned Shareholders. By the end of 2023, the company ranks 4th in global production capacity among Chinese cement companies, 6th in domestic capacity, 2nd in overseas operational capacity, and 1st in overseas revenue scale. In most regions abroad, cement prices are significantly higher than domestic prices, the competitive landscape is generally more favorable, and profit margins remain at reasonable levels. The company's progress in overseas expansion is ahead of its peers, with a clear trend of profit recovery. Currently, the price-to-book ratio is only 0.9, which is at a historic low, indicating significant room for recovery. This initial coverage is rated as 'Buy.'