This study investigates the role of wellbeing literacy as part of a dual-factor model of mental health in Chinese college students. Utilising latent profile analysis (LPA) with data from over 11 000 participants, the research identifies four distinct mental health profiles: complete mental health, vulnerable, symptomatic with high WBL, and troubled. These categories highlight the diversity in mental health status among the students, influenced by demographic factors such as gender, age, and social circles. The findings reveal that female students and those with fewer friends are more likely to fall into vulnerable or troubled groups, whereas having a larger social network serves as a protective factor enhancing wellbeing. Consequently, the incorporation of wellbeing literacy proves essential for an enriched understanding of mental health beyond mere symptom assessment. The research outlines that younger and early college-year students are particularly at risk, underscoring the need for targeted interventions that integrate wellbeing literacy into mental health frameworks. Despite several limitations, including its cross-sectional nature and regional sampling, this study provides a novel approach to mental health assessment by integrating wellbeing literacy with traditional diagnostic measures, offering critical insights for improving mental health interventions in educational settings.