Core Insights - The collaboration between Jinbo Biological and Meituan marks a significant shift from previous conflicts, indicating a reconciliation in the medical aesthetics market [1][12] - The medical aesthetics supply chain is undergoing changes, with more upstream material suppliers partnering with Meituan to enhance market presence and consumer access [2][15] Industry Dynamics - The medical aesthetics supply chain and distribution channels are being upgraded, allowing upstream suppliers to engage more directly with consumers through platforms like Meituan [3][4] - Previously, upstream suppliers had limited interaction with consumers, primarily selling to downstream medical institutions. Now, they are leveraging Meituan to enhance visibility and brand recognition [4][13] Market Changes - Meituan is evolving into a procurement agent for many small and medium-sized medical institutions, helping balance product authenticity and cost factors [5][17] - The collaboration has led to a new equilibrium among platforms, consumers, upstream suppliers, and downstream institutions, although challenges remain due to competitive pricing pressures [6][19] Historical Context - The conflict between Jinbo Biological and Meituan originated from concerns over unauthorized product listings and pricing strategies, which were exacerbated by Meituan's subsidy programs [9][10] - Following a strategic partnership signed in July, Jinbo Biological's products are now featured on Meituan's subsidy platform, although this has led to a decrease in retail prices [12][11] Competitive Landscape - The medical aesthetics market is highly competitive, with institutions needing to attract customers through low pricing, which can pressure upstream suppliers [7][19] - Meituan's model allows for better pricing strategies for small institutions, which previously struggled with procurement costs and authenticity issues [18][17] Future Outlook - The sustainability of the current balance among stakeholders in the medical aesthetics market remains uncertain, warranting ongoing observation [8][19] - Meituan's ability to maintain its competitive edge while managing pricing pressures will be crucial for its long-term success in the medical aesthetics sector [19][20]