With the continuous advancement of urbanization, urban industrial transformation and the implementation of urban renewal actions, the focus of urban development has further emphasized the improvement of quality and quantity. As one of the areas with the longest development in the entire city, the old industrial area has rich industrial heritage, resources and environment in the factory area, which is no longer suitable for large-scale transformation and reconstruction. How to build a reasonable renewal and transformation model for old industrial areas is one of the practical problems that need to be solved in the context of urban renewal in various cities. Taking Lanzhou General Machinery Factory as an example, based on the theory of urban acupuncture, the historical evolution was grasped, and the analysis of current problems was conducted. Four renewal steps are proposed, including breaking the meridians, replenishing qi and activating blood circulation, combing the meridians, and harmonizing the internal organs, providing new ideas and methods for the renewal of old industrial areas in cities.