Cooling & Thermal

From the world's largest air-conditioner makers to AI data-center cooling, China spans the whole thermal stack: home & commercial HVAC, precision data-center cooling, rack/server liquid cooling, and passive thermal materials — competing with global incumbents like Daikin, Vertiv, Schneider Electric and STULZ.

Gree 格力电器
alternative to Daikin / Carrier / Trane / Mitsubishi Electric

World's largest residential air-conditioner maker.

Global-ready A-share Closed
Midea 美的集团
alternative to Daikin / Carrier / LG / Samsung

Home appliances and HVAC; world's largest maker by volume.

Global-ready HK-listed Closed Foreign-investable
Haier Smart Home 海尔智家
alternative to Whirlpool / LG / Samsung / Carrier

Major appliance and HVAC maker (Haier, GE Appliances, Candy).

Global-ready HK-listed Closed Foreign-investable
AUX 奥克斯
alternative to Daikin / Carrier / LG / Samsung

Residential air conditioners; world's #3 by split-AC volume.

Global-ready HK-listed Closed Foreign-investable
Hisense Hitachi 海信日立
alternative to Daikin / Mitsubishi Electric / Carrier / Johnson Controls

Central air-conditioning and commercial HVAC (VRF, chillers); Hisense–Hitachi JV.

Global-ready Private Closed
Moon-tech 冰轮环境
alternative to GEA / Bitzer / Danfoss / Johnson Controls

Industrial and cold-chain refrigeration systems and compressors.

Global-ready A-share Closed
Sanhua 三花智控
alternative to Danfoss / Emerson Copeland / Parker Sporlan

HVAC, refrigeration and thermal-management components (control valves, electronic expansion valves).

Global-ready HK-listed Closed Foreign-investable
Envicool 英维克
alternative to Vertiv / Schneider Electric / STULZ / Munters

Precision and liquid cooling for data centers and telecom.

AI stack A-share Closed
Shenling 申菱环境
alternative to Munters / STULZ / Vertiv

Data-center, commercial and special-environment cooling systems.

AI stack A-share Closed
Yimikang 依米康
alternative to Vertiv / STULZ

Precision cooling and data-center infrastructure.

Cost-effective A-share Closed
Canatal 佳力图
alternative to Vertiv / STULZ / Schneider Electric

Precision air-conditioning for data centers.

Cost-effective A-share Closed
Sugon DataEnergy 曙光数创
alternative to CoolIT / Asetek / Motivair

Data-center liquid and immersion cooling systems.

AI stack A-share Closed
Huawei Digital Power (Cooling) 华为数字能源
alternative to Vertiv / Schneider Electric / CoolIT

Data-center and AI-cluster cooling (FusionCol, direct liquid cooling).

AI stack Private Closed
Feilongda (FRD) 飞荣达
alternative to Boyd / Laird / Honeywell / Parker Chomerics

Thermal-management materials, heat sinks and EMI shielding.

Cost-effective A-share Closed
Jones Tech 中石科技
alternative to Honeywell / Henkel / Parker Chomerics

Thermal interface materials and synthetic graphite sheets.

Cost-effective A-share Closed