头部医美机构春节消费情况交流 20260223 摘要 2026 年初线下医美终端机构营收呈现波动，1 月同比增长 11%，2 月 受春节影响同比下降 4%，前两月整体增长约 6%，客流量上升 10%， 但客单价持续下降。 轻医美占比提升导致单价下降，机构需引进高利润产品或设备以保持利 润空间。监管趋严促进合规，支持新产品审批，增值税增加压力但可通 过合理抵扣缓解。 非手术项目占比持续提升至 66%-70%，光电皮肤类项目占比稳定在 40%-45%，注射类项目不断增加。光电皮肤设备市场在紧致抗衰方面 需求较高，但客单价可能持续下降。 注射类产品线将显著增长，玻尿酸、新型肉毒素、重组胶原蛋白等不断 推出新产品。机构积极布局 OEM 代工贴牌定制，以降低成本并提高利 润率。 玻尿酸市场中，进口高端品牌仍受欢迎，但 OEM 定制贴牌玻尿酸逐渐 成为主推项目，增速显著。传统品牌增速放缓，差异化新品牌表现出色。 重组胶原蛋白市场增速显著，预计 2026 年保持强劲增长。锦波公司占 据重要地位，但新进入者将形成冲击，新产品上市将扩大市场份额。 肉毒素产品线稳定增长，新款肉毒素获批上市有望继续推动销量增长。 童颜针市场竞争稳 ...

Core Viewpoint - The National Health Commission emphasizes that "light medical beauty" services must be conducted in qualified medical institutions by professional medical personnel, highlighting the risks associated with unregulated practices in the industry [1][2]. Group 1: Industry Overview - The medical beauty industry has seen rapid growth, particularly in "light medical beauty" services such as laser treatments and drug injections, attracting many consumers [2]. - There is a rising concern over unqualified businesses exploiting "appearance anxiety" and concealing the risks associated with medical beauty procedures [2]. Group 2: Regulatory Concerns - The National Health Commission warns against "light medical beauty crash courses" that trivialize medical practices, often leading to illegal medical activities and consumer deception [2]. - Illegal practices include unauthorized training, improper use of medical beauty products, and issuing fake training certificates, which pose significant health risks to the public [2].

Policy Developments - The National Health Commission of China has prohibited beauty institutions, hair salons, and nail salons from conducting "light medical beauty" projects due to rising concerns over safety and qualifications in the medical beauty industry [2] Industry Developments - A new international trading platform for medical devices and instruments has been launched in Tianjin, aimed at facilitating "global buying and selling" of medical equipment, enhancing cross-border cooperation, and reducing international trade costs [3] - The Chinese Center for Disease Control and Prevention reported a general decline in acute respiratory infectious disease epidemics, with flu levels remaining low across the country [14] Drug and Device Approvals - Fosun Pharma announced that its subsidiary Shanghai Chaohui Pharmaceutical's application for the registration of Bupivacaine Hydrochloride Gel has been accepted by the National Medical Products Administration [5] - GlaxoSmithKline's RSV vaccine Arexvy has had its registration application accepted in China, with expectations for approval by 2027 [6] Financial Reports - AstraZeneca reported a total global revenue of $58.739 billion for 2025, marking an 8% year-on-year increase, with revenue from China reaching $6.654 billion, a 4% increase [8] Capital Market Activities - Beijing Supervision Biotechnology Co., Ltd. completed a B+ round financing exceeding 100 million yuan, with investments from multiple funds aimed at advancing its technology in clinical and brain disease intervention [10] - Hangzhou Tangji Medical Technology Co., Ltd. has submitted its listing application to the Hong Kong Stock Exchange [11] Industry Events - The first round of national centralized procurement for 316 commonly used drugs has been conducted, involving over 5,100 medical institutions and 1,091 domestic and foreign companies, with results expected to be implemented by March 2026 [13] - Samsung Medical's subsidiary has been recommended as a candidate for a project worth approximately 321 million yuan with Southern Power Grid [15]

国家卫生健康委昨日明确，"轻医美"属于医疗行为，严禁生活美容机构违规开展。当前一些商家利 用"容貌焦虑"非法培训、无证操作，导致伤害事件频发。公众应选择正规医疗机构，警惕"速成班"话 术，发现线索可举报。 爱美之心碰上美丽陷阱 究竟什么才是"轻医美"？国家卫健委给出了清晰界定：它本质是医疗行为。所谓"轻医美"，通常指利用 注射、光电、生物技术等方式进行的非手术类医疗美容项目，其核心前提是必须在取得《医疗机构执业 许可证》的医疗美容机构内开展，且操作者必须是持有相关资质的专业医师或护士。这意味着，我们日 常生活中熟悉的美容院、美发店、美甲店、养生会所等生活类美容机构，其服务范围仅限于皮肤表面清 洁、护理、修饰等非侵入性项目，严禁开展任何破皮、注入或使用医疗器械的"轻医美"项目。 公众切勿因价格诱惑或熟人介绍，而在这些场所接受所谓的"轻医美"服务，将自身健康置于巨大风险之 中。 别让速成班毁了你的脸 想要悄悄变美，却可能踏入危险陷阱。近年来，打着"无创""恢复快"招牌的"轻医美"项目风靡大街小 巷，从热玛吉、水光针到少女针，吸引着众多求美者。然而，这股热潮背后却乱象丛生。 国家卫生健康委在昨天召开的新闻发布会上指 ...

Core Viewpoint - The rapid development of the medical beauty industry, particularly "light medical beauty" practices, has raised concerns about health risks due to unqualified practitioners and illegal training programs [1][3] Group 1: Industry Concerns - "Light medical beauty" refers to non-surgical medical beauty projects conducted through injections, phototherapy, and biotechnology, which must be performed in qualified medical institutions by professional medical personnel [3] - There is a growing trend of unqualified businesses exploiting "appearance anxiety" to promote illegal practices, including unauthorized "light medical beauty crash courses" that lead to health risks for the public [1][3] Group 2: Regulatory Emphasis - Non-medical beauty institutions, such as beauty salons and nail shops, are strictly prohibited from offering "light medical beauty" services, emphasizing the importance of prioritizing health and safety over cost [3] - The promotion of "light medical beauty crash courses" often involves misleading marketing tactics that obscure qualifications and simplify techniques, leading to illegal medical practices and the issuance of fake training certificates [3]

编辑：张澍楠 国家卫健委提醒，生活类美容机构、美发店、美甲店等严禁开展"轻医美"项目，公众切勿贪图便宜或心 存侥幸，置健康与安全于不顾。 国家卫健委提醒，"轻医美速成班"将医疗行为"生活化"，通过模糊资质、简化技术等手段蒙蔽消费者， 往往存在非法行医、冒名培训、非法使用销售医美药品及医疗器械、颁发假培训证(资格证)等多种违法 行为。公众不要轻信"三天速成学打针""零基础小白放心学"等营销话术。(完) 来源：中国新闻网 中国国家卫健委点名"轻医美速成班"：往往存在多种违法行为 中新社北京2月10日电 (记者 李纯)中国国家卫生健康委员会10日在北京举行新闻发布会。国家卫健委新 闻发言人谢杨提示，"轻医美速成班"通过模糊资质、简化技术等手段蒙蔽消费者，往往存在多种违法行 为。公众不要轻信"三天速成学打针""零基础小白放心学"等营销话术。 谢杨表示，近年来医美行业迅速发展，其中以激光、药物注射为主要形式的"轻医美"吸引了众多求美者 的目光。一些不良商家借机炒作"容貌焦虑"，隐瞒医美风险，甚至在不具备资质条件的情况下，非法开 展"轻医美速成班"等活动，学员间互相注射美容针等操作导致的致伤致残事件时有发生，不具备医师资 ...

Macro Dynamics - Five departments, including the Ministry of Industry and Information Technology, are accelerating the development of guidelines for the utilization and technological innovation of low-altitude economic radio frequency resources to support low-altitude infrastructure development [2] Health and Safety - The National Health Commission has warned against "light medical beauty" projects being conducted by non-medical institutions, emphasizing that such procedures must be performed in qualified medical facilities by licensed professionals to mitigate health risks [3] Market Data - The State Administration for Market Regulation conducted a special inspection of food safety ahead of the Spring Festival, testing 67,000 batches with a compliance rate of 98.38%, indicating overall good food safety conditions [4] - The National Healthcare Security Administration announced the results of the first to eighth batches of national drug procurement, involving 316 commonly used drugs and 1,020 enterprises with 4,163 products qualifying for selection [5] Financial Institutions - China Bank has increased its registered capital from approximately 294.4 billion RMB to about 322.2 billion RMB, marking an increase of approximately 9.5% [6] Market Performance - On February 10, the A-share market showed mixed results, with the Shanghai Composite Index rising by 0.13% and the ChiNext Index falling by 0.37%, while the total trading volume was approximately 2,105.5 billion RMB, a decrease of about 143.9 billion RMB from the previous trading day [7] - The Hong Kong stock market closed with the Hang Seng Index up by 0.58% and the Hang Seng Tech Index up by 0.62%, driven by significant gains in the pharmaceutical and media sectors [8] Company Dynamics - *ST Lifan announced that its stock will resume trading on February 11 after completing an investigation into stock price fluctuations, noting that the company's fundamentals have not changed significantly [9] - Semiconductor Manufacturing International Corporation reported a net profit of 1.223 billion RMB for Q4 2025, a year-on-year increase of 23.2%, with total revenue of 17.813 billion RMB, up 11.9% [11] - WeChat has launched a "national subsidy" interest service for credit card bill installment repayments, with seven banks participating in the initial rollout [10] - Chow Tai Fook confirmed that it will raise prices for gold products after the Spring Festival, although the timing and extent of the increase have yet to be determined [13] - Sam's Club, Hema, and Dingdong Maicai announced adjustments to service arrangements and delivery fees during the Spring Festival period [15]

2月10日，国家卫生健康委召开新闻发布会，对医疗美容行业中的"轻医美"乱象发出明确警示。近年 来，以注射、激光为代表的非手术类医美项目备受追捧，但部分不良商家借机制造"容貌焦虑"，隐瞒医 疗风险，更在不具备资质的情况下非法开办"轻医美速成班"，导致学员互扎致伤事件频发，给求美者带 来严重健康威胁。 国家卫生健康委强调，"轻医美"本质是医疗行为，必须由持证医务人员在正规医疗机构内操作。生活美 容店、美甲店等场所严禁开展此类项目。同时，社会上流传的"三天学会打针""零基础速成"等培训，往 往涉及非法行医、使用假药劣械、颁发虚假证书等多重违法问题。此外，发布会上，多位专家结合节气 和春节特点，围绕流感防护、春季养生、体重管理等公众健康关切展开全面解读。 严禁生活类美容机构开展"轻医美"项目 "轻医美"是指通过非手术或微创的医学美容手段，实现皮肤护理、抗衰、塑形等美容效果的医美项目， 具有恢复期短、风险相对较低的特点。常见的轻医美项目包括水光针、玻尿酸注射、光子嫩肤等。 据王大燕介绍，当前全国流感疫情总体处于低流行水平，近两月持续下降，流行毒株以甲型H3N2亚型 为主要流行株，乙型Victoria系占比缓慢上升。此外 ...

Core Viewpoint - The National Health Commission of China has raised concerns about the "light medical beauty" industry, highlighting the risks associated with unqualified practitioners and illegal training programs [1] Industry Summary - The "light medical beauty" sector has rapidly developed, primarily involving laser and injectable treatments, attracting many consumers [1] - Unethical businesses exploit "appearance anxiety," concealing the risks of medical beauty procedures and conducting illegal "crash courses" for training [1] - Incidents of injury and disability have occurred due to unqualified individuals performing medical beauty procedures [1] Regulatory Emphasis - "Light medical beauty" refers to non-surgical medical beauty procedures conducted by qualified medical personnel in accredited medical institutions [1] - Non-medical establishments such as beauty salons, hairdressing shops, and nail salons are prohibited from offering "light medical beauty" services [1] Illegal Practices - "Crash courses" in medical beauty often misrepresent medical practices as lifestyle services, misleading consumers through vague qualifications and simplified techniques [1] - Common illegal activities include practicing medicine without a license, fraudulent training, illegal use of medical beauty products and devices, and issuing fake training certificates [1] - The National Health Commission advises the public to be wary of marketing phrases like "three-day crash course" and "zero foundation beginners welcome" [1]

Core Viewpoint - The National Health Commission has raised concerns about the "light medical beauty" industry, highlighting the risks associated with unqualified practitioners and illegal training programs [1][2]. Group 1: Industry Overview - The "light medical beauty" sector has rapidly developed, primarily involving non-surgical procedures such as injections and laser treatments, attracting many consumers [1]. - Unqualified businesses exploit "appearance anxiety," concealing the risks of medical beauty procedures [1]. Group 2: Regulatory Warnings - "Light medical beauty" must be conducted in licensed medical institutions by qualified medical personnel, as it is fundamentally a medical practice [2]. - Non-medical establishments like beauty salons and nail shops are strictly prohibited from offering "light medical beauty" services [2]. Group 3: Illegal Practices - "Light medical beauty crash courses" misrepresent medical practices as lifestyle activities, often leading to illegal medical practices and the issuance of fake training certificates [2]. - Consumers are advised to be cautious of marketing phrases like "three-day crash course" or "zero foundation beginners welcome" [2].