TacticScaleWhat Meinian Onehealth Healthcare (美年健康) Does & How It Makes Money (002044.SZ)
Updated October 2026 · reflects Meinian Onehealth Healthcare's latest reported financials
China's largest private health checkup and preventive care chain. The company earns fees per health checkup, mainly from corporate contracts that cover employee physicals and from individual walk-in customers, with higher-priced premium packages adding to the average ticket.
How Meinian Onehealth Healthcare makes money
The company earns fees per health checkup, mainly from corporate contracts that cover employee physicals and from individual walk-in customers, with higher-priced premium packages adding to the average ticket. Additional revenue comes from health management and consulting services, sales of medicines and medical devices, insurance brokerage commissions, and financial leasing and factoring.
What Meinian Onehealth Healthcare does
Founded in 1991 and headquartered in Shanghai, Meinian Onehealth Healthcare Holdings is a Chinese healthcare services company built around health checkups. Its core business is operating physical examination centers that serve both individual consumers and corporate clients purchasing employee health screenings, wrapped in a broader offering of health consultation, health assessment, and ongoing health management. Around that core the company has layered adjacent services: professional prevention and nutrition consulting, medical technology and health information systems, insurance brokerage, and the sale of medicines and medical devices. It is also active in research and experimental development, software development, investment and physical examination management, and financial businesses including leasing and factoring. The model positions it in China's preventive healthcare market, where demand is driven by rising health awareness and employer-funded screening programs.
Products & services
- Health checkup (physical examination) centers
- Health consultation, assessment and management services
- Corporate employee checkup packages
- Insurance brokerage services
- Medicine and medical device sales
- Medical and health information technology services
美年健康是做什么的？
美年大健康（美年健康）成立于1991年，总部位于上海，是一家以健康体检为核心的中国医疗健康服务公司。公司主营体检中心运营，客户既包括个人消费者，也包括为员工采购体检服务的企业客户，并在体检基础上提供健康咨询、健康评估和持续的健康管理服务。 围绕体检主业，公司还延伸出多项相关业务：专业预防、健康保护与营养健康咨询，医疗技术与健康信息化服务，保险经纪，以及药品和医疗器械销售。此外公司涉足研究与实验开发、软件开发与销售、投资管理与体检管理，以及融资租赁、保理等金融业务。其定位处于中国预防医疗赛道，需求主要来自居民健康意识提升和企业员工体检投入。
What is Meinian Onehealth Healthcare worth?
On an owner-earnings DCF, Meinian Onehealth Healthcare's most-likely value is about ¥5 versus a recent price near ¥5 (8% above fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~¥3) with a margin of safety — so the honest verdict here is “Fairly priced — no edge.” Fair value earns its keep only at the extremes, not in the wide middle.
Price sits in the normal range — fair value isn't actionable here; it earns its keep only when price drops below the no-growth floor, or runs to roughly double the optimistic case.
Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →
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