从“宣战”到“同盟”：新氧与锦波们的“大和解”

Core Viewpoint - The article discusses the significant shift in the medical aesthetics industry, highlighting the transition from conflict to collaboration between companies like Jinjing Biological and platforms like New Oxygen, reflecting changes in market dynamics and pricing power [1][3][5]. Group 1: Industry Dynamics - In 2024, Jinjing Biological publicly criticized New Oxygen for low-price promotions of its core product, Wei Yimei, indicating a struggle to maintain pricing power [1][4]. - New Oxygen has transformed from a platform to a physical clinic model, establishing 50 stores across 16 cities, which enhances its bargaining power with upstream manufacturers [3][11]. - The monopoly of Jinjing Biological in the collagen product market has been disrupted by competitors like Juzhi Biological and Chuangjian Biological, leading to a loss of pricing authority for upstream manufacturers [3][10]. Group 2: Strategic Alliances - The formation of the "Youth Selection Alliance" by New Oxygen and 14 upstream manufacturers, including Jinjing Biological, marks a shift towards collaboration in areas like pricing and product traceability [2][5]. - Jinjing Biological's previous confrontations with platforms like Meituan have also turned into strategic partnerships, indicating a broader trend of upstream manufacturers adapting to market realities [7][10]. Group 3: Evolving Business Models - The article outlines three emerging strategies for upstream manufacturers in response to shifting market dynamics: 1. The rise of the ODM model, where companies like Xihong Biological provide products without interfering with downstream pricing [14]. 2. Maintaining product scarcity through innovation or acquisitions to capture market share during competitive gaps [15]. 3. Expanding internationally to seek new growth opportunities, as seen with companies like Aimeike and Binhai Medical [15][16]. Group 4: Market Trends - The medical aesthetics market is experiencing a significant increase in product offerings, with over 50 new medical device approvals in 2025, leading to intensified competition [11]. - The shift in pricing power from manufacturers to distribution channels reflects a broader trend of market "demystification" and value reassessment in the medical aesthetics sector [16].