Abstract: A two-stage cooling process coupling vertical cooling and annular recooling is proposed to address the deficiencies of existing sinter waste heat recovery equipment. Flow and heat transfer models inside the two-stage cooling device are established, and the influence laws of parameters including inlet air volume, inlet air temperature, cooling section height and cooling section length on core performance indicators such as waste heat recovery capacity and outlet heat carrier enthalpy-exergy of the device are analyzed emphatically. Simulation results calculated by the constructed numerical model are well consistent with measured experimental data, with a maximum relative error of only 5.83%, and the calculation accuracy and reliability of the model are effectively verified. Bed pressure drop is raised when inlet air volume, inlet air temperature and cooling section height are increased while cooling section length is reduced. Waste heat recovery capacity is elevated with the growth of inlet air volume, cooling section height and cooling section length, and decreased as inlet air temperature rises. The enthalpy-exergy of heat carrier is first increased and then reduced with the rise of inlet air volume, and gradually improved with the enlargement of inlet air temperature, cooling section height and cooling section length.