SHINRYO SHINRYO (新菱冷熱工業株式会社) is a company specializing in heating, ventilation, and air conditioning (HVAC) solutions. | ![]() Takasago Thermal Engineering Takasago Thermal Engineering (高砂熱学工業株式会社, formerly known as Takasago Heating Works) is a company that provides heating, ventilation, and air conditioning solutions. | ![]() XIZI Clean Energy XIZI Clean Energy (西子清洁能源装备制造股份有限公司, formerly known as Hangzhou Boiler Group, HBG, 杭州锅炉集团股份有限公司) is a company that specializes in boiler, pressure vessel, environmental protection, and new energy equipment. | |||
Founding Date | Founding Date 1956 | Founding Date 1923 | Founding Date 1955 | Founding Date 1874 | Founding Date 1953 |
Type | Type Private | Type Public | Type Public | Type Public | Type Subsidiary |
Tags | |||||
Locations | Locations Tokyo, JP HQ Phnom Penh, KH Hong Kong, HK Hong Kong, HK Noida, IN Jakarta, ID Chiyoda City, JP see more | Locations Hangzhou, CN HQ Hangzhou, CN Hangzhou, CN | Locations North Andover, US HQ Campbellfield, AU Kewdale, AU Luscombe, AU Wingene, BE Plovdiv, BG Burlington, CA see more | Locations Wokingham, GB HQ Saint Helier, JE | |
Employees | Employees 2,257 | Employees 5,606 | Employees 2,409 | Employees 4,8006% decrease | Employees 35,000 |
Valuation ($) | Valuation ($) N/A | Valuation ($) 2.1 b | Valuation ($) 1.3 b | Valuation ($) 6.6 b | Valuation ($) N/A |
Financial | |||||
Revenue (est.) | Revenue (est.) ¥308.5b (FY, 2024) | Revenue (est.) ¥423.9b (FY, 2026) | Revenue (est.) ¥6b (FY, 2025) | Revenue (est.) $2.4b (FY, 2025) | Revenue (est.) N/A |
Cost of goods | Cost of goods ¥254.6b (FY, 2024) | Cost of goods ¥329.4b (FY, 2026) | Cost of goods ¥5.1b (FY, 2025) | Cost of goods $1.2b (FY, 2025) | Cost of goods N/A |
Gross profit | Gross profit ¥53.9b (FY, 2024) | Gross profit ¥94.5b (FY, 2026) | Gross profit ¥1.1b (FY, 2025) | Gross profit $1.2b (FY, 2025) | Gross profit N/A |
Net income | Net income ¥21.9b (FY, 2024) | Net income ¥38b (FY, 2026) | Net income ¥559.9m (FY, 2025) | Net income $340.8m (FY, 2025) | Net income $1.2b (FY, 2024) |

Takasago Thermal Engineering (高砂熱学工業株式会社, formerly known as Takasago Heating Works) is a company that provides heating, ventilation, and air conditioning solutions.
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