美容护理行业周报：首批射频美容仪获证，新氧布局医美全产业链

Investment Rating - The industry investment rating is maintained at "Increase" [4][15]. Core Insights - The first batch of radio frequency beauty devices has received certification, indicating a move towards market standardization [1]. - New Oxygen has launched a new self-operated offline brand, "New Oxygen Youth Clinic," aiming to provide affordable and accessible anti-aging solutions across nine cities with 17 clinics [2]. - There is a significant shortage and uneven distribution of quality medical beauty resources in China, with major cities holding 51% of the total medical beauty doctors [3]. - New Oxygen's strategy includes a comprehensive integration of the medical beauty industry, enhancing service quality and affordability for consumers [3]. - The long-term penetration rate of medical beauty services is expected to continue rising, with several companies showing promising sales performance and product development [4]. Summary by Sections Regulatory Developments - The National Medical Products Administration approved 255 medical device products, including two radio frequency beauty devices, signaling a trend towards regulatory compliance in the market [1]. Market Expansion - New Oxygen's expansion into the downstream medical beauty institutions aims to create a complete industry chain, enhancing collaboration and development across the sector [2][3]. Industry Dynamics - The average price of light medical beauty services in China is close to the monthly disposable income, contrasting with South Korea's significantly lower price point [3]. - New Oxygen's CEO emphasizes the need for consistent service quality and affordability to address consumer pain points in the medical beauty sector [3]. Investment Opportunities - Companies such as Kewbi, Aimeike, and Jiangsu Wuzhong are highlighted for their potential growth in the medical beauty product market, alongside established players like Meilitiantian and Langzi [4].