定价权大战升级！新氧2999元童颜针硬刚上游厂商

Core Viewpoint - The ongoing conflict between the medical beauty platform company New Oxygen and its suppliers highlights a significant pricing power struggle in the industry, particularly regarding the pricing of the "童颜针" (youthful needle) product, which New Oxygen has drastically reduced from market prices to attract consumers [2][3][4]. Group 1: Pricing Conflict - New Oxygen has been publicly accused by suppliers, including Purity and Saint Boma, of sourcing products through unauthorized channels and has faced scrutiny over the legitimacy of its clinics [3][25]. - The core of the conflict revolves around New Oxygen's aggressive pricing strategy, which has seen the price of the "童颜针" drop from approximately 10,000 yuan to 2,999 yuan, representing a nearly 70% reduction [4][26]. - New Oxygen claims that its low pricing strategy is based on "value return," achieved through large-scale procurement and reduced marketing costs [4][26]. Group 2: Financial Performance - In the first three quarters of 2024, New Oxygen reported total revenue of 1.063 billion yuan, a year-on-year decline of 3.36%, with a net loss of 133 million yuan, a shift from a profit of 20.78 million yuan in the same period last year [14][36]. - The company's gross profit margin for the same period was 49.21%, down 13.02 percentage points year-on-year, primarily due to lower margins from offline services compared to traditional information services [16][38]. - The rapid expansion of offline beauty treatment services has led to a significant increase in revenue, with a 385.05% year-on-year growth to 427 million yuan, now accounting for 40.16% of total revenue [15][37]. Group 3: Operational Challenges - New Oxygen's shift to a heavy asset model has increased operational costs, with total operating costs reaching 540 million yuan, representing 50.8% of revenue, significantly higher than the traditional platform model [16][39]. - The company faces challenges in maintaining service quality due to a lack of a stable and experienced medical team, which is crucial for the quality of medical beauty services [39]. - Regulatory risks have increased as offline medical practices are subject to stringent oversight from multiple regulatory bodies, raising concerns about compliance and potential public relations crises [39].