SmartHeat Inc. is a holding company. The Company, through its subsidiaries, designs, manufactures and sells plate heat exchangers (PHEs) and related systems in China and Germany. The Company's PHE products are used in the industrial, residential and commercial sectors. The Company has two segments: plate heating equipment, meters and related products, and heat pumps and related products. The Company's subsidiaries design, manufacture, sell and service PHEs, PHE Units, which combine PHEs with various pumps, temperature sensors, valves and automated control systems, heat meters and heat pumps for use in commercial and residential buildings. The Company also designs, manufactures and sells spiral heat exchangers and tube heat exchangers. The Company's subsidiaries include SmartHeat Heat Exchange Equipment Co., Ltd., Heat HP Inc., SmartHeat (China) Investment Co., Ltd., SmartHeat (Shanghai) Trading Co., Ltd. and Heat PHE Inc., among others.