「既当裁判又踢球」！新氧揽财、机构逃亡，金星执意「砸锅吃饭」？

Core Viewpoint - The entry of the company into offline aesthetic medical clinics has led to a public rift between upstream and downstream players in the medical beauty industry, revealing long-standing grievances over interests [1] Group 1: Financial Performance - The total revenue of SOYOUNG CLINIC reached 144 million yuan, marking a year-on-year increase of 426.1%, and has become the largest revenue source for the group [2] - The company's total revenue for the second quarter was 378.7 million yuan, down 7% year-on-year, with a net loss of 36 million yuan compared to a net profit of 18.9 million yuan in the same period last year [19][20] Group 2: Market Dynamics - The company has faced accusations from numerous medical beauty institutions of being "unfaithful" and "biting the hand that feeds," particularly from its advertising clients [2] - The company’s transition from an online platform to a direct competitor in the offline space has led to a loss of trust and a phenomenon termed "de-SOYOUNGification" among partner institutions [7][8] Group 3: Strategic Decisions - The company’s management believes that self-reform is a strength rather than a weakness, despite facing resistance from some partner institutions [9] - The CEO indicated that the shift to offline operations was a long-planned strategy, initiated years ago, rather than a sudden decision [19] Group 4: Competitive Landscape - The company’s entry into the offline market has sparked direct competition with its former partners, leading to significant tensions, including a notable incident where a major client threatened to withdraw advertising spending if the new clinic opened nearby [5][6] - The company has been accused of engaging in a "price war," with significant price reductions for certain services, which has drawn criticism from upstream suppliers [17] Group 5: Business Model and Operations - The company claims that its self-operated clinics and platform services are complementary rather than competitive, with a focus on different market segments [10] - The company has implemented a separation strategy to maintain the platform's neutrality while still directing traffic to its own clinics, although this has raised questions about the integrity of its operations [14][15]