Against the backdrop of global urbanization and sustainable development, the transformation of industrial heritage has emerged as a critical endeavor to bridge historical memory and contemporary urban renewal. Employing a systemic theoretical framework, this chapter conducts a comparative analysis of China’s Huaxin Cement Factory Cultural Heritage Park and Indonesia’s De Tjolomadoe Sugar Factory, exploring how industrial heritage can be regenerated through the integration of tangible and intangible elements. The study proposes a systemic analytical model for industrial heritage, grounded in the integrated conservation principles of the Faro Convention and UNESCO’s Historic Urban Landscape (HUL) approach. This model synthesizes material components (factory architecture, industrial infrastructure), intangible dimensions (community memory, cultural narratives), and adaptive functions (tourism, education, cultural programming) into a cohesive framework. The chapter examines the Huaxin Cement Factory, transformed into an industrial tourism and education hub through government-led, multi-stakeholder collaboration, and De Tjolomadoe, revitalized via public-private partnership into a hybrid cultural venue reflecting both artistic heritage and commercial use. The comparative analysis highlights shared adaptive reuse challenges while emphasizing divergent governance models. In China, emphasis is placed on cultivating collective memory through preservation, while the Indonesian case prioritizes critical reinterpretation of colonial legacies and community participation. This chapter argues that sustainable industrial heritage transformation requires moving beyond static conservation toward dynamic systems thinking. By fostering interdisciplinary collaboration, heritage professionals can harmonize historical integrity, spatial revitalization, and social agency, offering transferable strategies for resilient industrial heritage development across diverse urban contexts.