A workshop belonging to Zhejiang Yinlun Machinery Co Ltd. [Photo/taizhou.com.cn]

Zhejiang Yinlun Machinery Co Ltd, a leading manufacturer of heat exchangers in China, has achieved a significant milestone by surpassing 10 billion yuan ($1.4 billion) in operating revenue as of November. This accomplishment makes Yinlun the first company based in Tiantai county to achieve such a feat.

The company is confident in its continued success and expects to achieve an operating revenue between 10.8 billion and 11 billion yuan for the full year. Yinlun's specialization lies in the research and development, manufacturing, and sales of various heat exchangers. For the past two decades, the company has maintained its position as the top producer and seller of heat exchangers in China.

Originally established in 1958 as Tiantai Machinery Factory, Yinlun underwent a transformative restructuring in 1999, transitioning from a State-owned enterprise to a privately-owned company. In 2007, the company successfully completed its initial public offering, further solidifying its position in the market.

With a robust global marketing network, Yinlun has expanded its reach to more than 40 countries and regions worldwide, catering to over 300 high-profile clients. To support its operations, the company has established over 50 wholly-owned and controlling subsidiaries both domestically and internationally.

In recent years, Yinlun's growth has been primarily driven by its focus on passenger vehicles and new energy thermal management. From January to November, the company's passenger vehicle and new energy sectors achieved an operating revenue of 4.92 billion yuan, reflecting a 51 percent growth year-on-year.

Yinlun's operating revenue has experienced remarkable growth, rising from 5 billion yuan in 2018 to a projected range of 10.8 billion to 11 billion yuan in 2023. Similarly, the company's net profit attributable to shareholders has seen a substantial increase, climbing from 350 million yuan in 2018 to an estimated range of 590 million to 640 million yuan in 2023.