Medlive Technology Co Ltd (2192) Fair Value & Analysis
Healthcare · HK · Market cap HK$5.3B
Fair value as of: Aug 13, 2026
From 26 valuation models · updated 3 days ago
Share price +2.4% over the past month.
A strong business, but screening 18% overvalued on our models.
What matters now
- A high-quality business (quality 75/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
- The price sits above even our optimistic bull case (HK$6.96). The favourable scenario is already priced in.
- The models converge in a tight band (HK$6.21 to HK$6.96), unusually little disagreement for a valuation.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
60‑month range HK$5.24 – HK$41.13 · fair‑value band HK$6.21 – HK$6.96 · the HK$7.95 price screens above the HK$6.54 fair value. Dashed = 300-day average. As of Aug 13, 2026.
Analysis
Medlive Technology Co Ltd (2192) currently trades at HK$7.95, while our model-based Fair Value estimate is HK$6.54, implying the stock looks roughly 17.7% overvalued today. The Quality Score stands at 75/100 (high quality), in the Healthcare sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Medlive Technology Co Ltd generated revenue of HK$642M at a net margin of 52.1%. Revenue grew 4.8% year over year. It earns a return on equity of 7.1%. The balance sheet holds a net cash position of HK$2.6B. Fundamentals as of Aug 13, 2026
Our scenario range runs from HK$6.21 (bear case) to HK$6.96 (bull case); at HK$7.95, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 51% below its 52-week high and 26% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -64% fair-value upside, at -18%, 2192 screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 26 models by family
Widest divergence: Growth Earnings (HK$16.68) versus Dividend Discount (HK$3.79). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 71 · Market factors (momentum, volatility) 32
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Medlive Technology Co., Ltd. operates an online professional physician platform in Mainland China and internationally. The company's precision marketing and corporate solution provides digital marketing, digital detailing, digital marketing consultation, digital content creation, application software development, and other relevant services.
Full company description
Medlive Technology Co., Ltd. operates an online professional physician platform in Mainland China and internationally. The company's precision marketing and corporate solution provides digital marketing, digital detailing, digital marketing consultation, digital content creation, application software development, and other relevant services. Its medical knowledge solution offers medical education and clinical decision support, including licensing software to physicians and other registered users, such as other healthcare professionals and pharmaceutical companies. The company's intelligent patient management solutions include single disease management services, such as disease knowledge dissemination and treatment compliance monitoring; patient education services comprising content development, application software development, and other related services; and chronic disease management services for breast cancer, lung cancer, ovarian cancer, Parkinson's, lymphoma, stroke, and diabetes management. In addition, it is involved in the provision of research and development services; provision of internet hospital services; provision of publication and planning services for medicine guidelines and medical consensus; organizing medical exhibition conferences; provision of medical services; and provision of research services to pharmaceutical companies. The company was formerly known as Kingyee Co., Limited and changed its name to Medlive Technology Co., Ltd. in February 2021. The company was founded in 1996 and is headquartered in Beijing, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Medlive Technology Co Ltd reported revenue of HK$642M in FY2025 versus HK$284M in FY2021, a compound +22.6%/yr. Reported net income was HK$334M in FY2025, compounding +69.4%/yr from FY2021.
2192 screens 18% overvalued. Compare with Veeva Systems Inc →
Peer Group
Health Information Services · 125 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Health Information Services median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Health Information Services stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Veeva Systems Inc VEEV | $241.51 | $91.49 | -62% |
| Pro Medicus Limited PME | A$183.71 | A$23.74 | -87% |
| BrightSpring Health Services, Inc BTSG | $59.68 | $21.31 | -64% |
| HealthEquity, Inc HQY | $105.50 | $56.63 | -46% |
| Hinge Health, Inc HNGE | $86.32 | $24.03 | -72% |
| 10x Genomics, Inc TXG | $58.48 | $17.18 | -71% |
| Waystar Holding WAY | $24.54 | $12.86 | -48% |
| XtalPi Holdings 2228 | HK$8.19 | HK$1.04 | -87% |
| Doximity, Inc DOCS | $24.99 | $25.91 | +4% |
| Privia Health Group PRVA | $21.54 | $5.26 | -76% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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