本届上海美博会展览面积达150000平方米，汇聚了来自全球68+国家和地区的1800多家优质展商，展示 了超10000个优选品类。 6月26日，在为期三天的火热人流与火爆交流中，第67届中国（上海）国际美博会在上海虹桥·国家会展 中心圆满落幕。本届展会以"拥内需，拓海外"为主题，全方位展示了美业的蓬勃生机与无限潜力，释放 出行业在韧性发展、创新突破和智能化方面的强劲信号。 韧性突围 | 再塑稳健增长曲线 本届展会通过"峰会启幕-活动引流-特展深耕"系统性勾勒美业发展蓝图，为行业提供前瞻性洞察。 6月23日，2025中国美业前沿发展峰会率先点燃热度，行业领袖、明星红人、跨界专家齐聚一堂，先发 聚合前沿美业力量，以高规格思想碰撞为行业注入创新动能，树立美业潮流风向标。 2025年，美博会迈出坚实步伐，将新增举办"印尼国际美博会"与"越南国际美博会"两场国际展会，助力 中国美业品牌出海，为国内企业搭建品牌展示、市场开拓与精准合作的一站式国际平台。 品类革新 | 一展解构产业逻辑 本次展会深度聚焦产业逻辑，聚合上下游品牌力量。展商们以强劲的态势引领增长浪潮，新品亮相覆盖 多重领域，不仅彰显了品牌竞争力，更推动了行业的 ...

头部公募在6月份的新产品投放策略，已暗含了风格切换的行情走势。 6月下旬，广发基金、富国基金、汇添富基金、南方基金、平安基金等多家头部公募密集推出偏价值、偏 低估值的均衡主题基金产品。新基金的产品简称涉及的关键词，也解释了这些基金经理建仓谨慎的原因。 头部公募新产品建仓谨慎 尽管医药行业指数近期出现一波难得的调整，但多只基金合同正式生效的新基金产品并未忙于借机上车。 证券时报·券商中国记者注意到，平安基金旗下新产品平安价值优享混合基金在6月20日正式成立，虽然 该基金进入建仓期时恰逢医药赛道走跌，但基金净值数据显示，平安价值优享混合基金净值停留在1元， 该基金产品截至6月24日仍未建仓。 值得一提的是，考虑到平安价值优享混合基金经理何杰，同时也为平安估值优势混合基金的基金经 理，"估值优势"这一基金简称相当程度上暗含了新基金产品的选股偏好，也反映了平安基金在6月下旬推 出新产品的策略考量。与此同时，宏利基金旗下宏利睿智领航基金也在6月20日正式成立，而这只新基金 产品截至6月24日也采取了谨慎操作的建仓策略，尤其是这只新产品的基金经理孟杰也是宏利睿智稳健的 基金经理，同样以"低估值"作为其投资偏好。 另一个值 ...

Group 1: Industry Trends - The concept of "anti-aging" is evolving towards a holistic and root-cause approach, integrating beauty and health, which presents a new development direction for the Chinese medical aesthetics industry [1] - The medical aesthetics industry is transitioning from focusing on superficial beauty to addressing deeper health needs, particularly in the context of women's health and ovarian rejuvenation [2][3] Group 2: Women's Awareness and Market Demand - Women's awareness of anti-aging has undergone significant changes, shifting from a focus on external beauty to internal health, particularly regarding ovarian health [2][3] - A report indicates that 98% of respondents consider ovarian aging a core issue in anti-aging discussions, highlighting a growing market demand for solutions targeting ovarian health [2][3] Group 3: Product and Solution Development - RETRUEGEN, a product aimed at improving ovarian function, utilizes a unique mechanism that promotes cell survival and reduces apoptosis, showing significant clinical improvements in hormone levels and menstrual health [5] - The product is the only NMPA-approved intravenous human placenta product, which enhances its efficacy and safety profile, achieving nearly 100% bioavailability [5] Group 4: Market Opportunities and Growth - The introduction of RETRUEGEN opens new market opportunities by bridging the gap between medical aesthetics and health, addressing the saturation of traditional facial anti-aging products [6][7] - The global women's health market is projected to reach nearly $100 billion by 2030, with significant growth potential in China, where awareness of ovarian health is still developing [6][7] Group 5: Business Model and Competitive Advantage - RETRUEGEN's approach allows medical aesthetics institutions to meet the evolving demands of high-net-worth clients, moving beyond traditional facial treatments to comprehensive ovarian health solutions [7] - The product's model encourages a low-entry point for clients while fostering high repeat purchase rates, helping institutions break free from the cycle of customer acquisition and attrition [7]

6月24日至26日，以"新时代企业家精神"为主题的世界经济论坛第十六届新领军者年会（夏季达沃斯论 坛）在天津举行。6月25日下午，新氧作为医美行业代表，受邀参与工商业代表座谈会。 "做平台十多年的观察，我们发现，医美消费决策难的根本在于信任缺失。所以，2023年5月，新氧转型 线下，成立了第一家轻医美连锁门店，希望通过数智化技术和标准化管理，探索出一套让消费者可以真 正信任的医美服务模式。" 金星介绍，新氧打造了全数字化的"智慧诊所"解决方案，贯穿诊疗、培训、服务各环节。其中，在服务 环节，新氧将数字化渗透到从预约、签到、皮肤检测到咨询、治疗各个服务流程中，并借助AI辅助诊 疗，让医疗决策更精准，同时，让消费者感受到安全、品质、高效的服务。 "比如，用户在通过AI皮肤检测机拍完皮肤检测照片后，AI能在30秒内生成报告并上传到问诊系统，用 户在自己的手机上也可以看到。再比如，在AI驱动的个性化诊疗环节，我们依托12年医美领域深耕积 累的数据训练出来的AI行业大模型，并结合图像分析、知识图谱等技术，为用户提供个性化治疗方 案，辅助医生诊疗。" 此外，今年，新氧在各线下门店逐步打造数字孪生的用户旅程，通过人员、物品 ...

导语 ： 医美机构"贴牌玻尿酸"的重要运营模式之一，似乎是将正规玻尿酸品牌产品用于低价线上引流，实际再用 自己的贴牌产品"狸猫换太子"。 6 月 14 日，据央视报道，青岛、荣成等海关近期查获大量未申报的注射用医美产品。其中，玻尿酸针剂被缴获 15337 支，成为走私重灾区。 图源：央视新闻 这些非法产品流入市场后，不仅逃避监管，还可能因质量参差导致消费者面部溃烂甚至毁容。 走私入境，属于通常所说的"黑药械"。其实，在阳光与黑色之间，还有更具隐蔽性、更不宜察觉的"灰色"地带。 这样的"灰色"地带，往往出现在正规医美机构——比如，披着"合法外衣"的"贴牌玻尿酸"，更能够绕过监管视线，为 消费者带来难以估量的风险。 所谓"贴牌玻尿酸"，是指玻尿酸生产厂家为不同的委托方（通常是医美机构或品牌商）生产不同品牌的玻尿酸产品。 通常情况下，这些产品会由委托方自行销售。 之所以贴牌，一个重要原因是，医美用玻尿酸的生产资质较为稀缺。 玻尿酸虽用途广泛，但医美行业常见的玻尿酸，通常作为整形、注射填充使用，属于长期植入类的三类医疗器械。根 据《医疗器械生产监督管理办法》，三类医疗器械生产资质的获取，需要遵循严格的法规和程序，并取 ...

【八大处整形医学概念验证中心.开放日】 开放日安排 14:00-14:30 一楼大厅集合，参观验证中心 14:30-15:00 会议室座谈 ：自我介绍 15:00-15:30 八大处整形医学概念验证中心及转化成果介绍 一、活动时间： 2025年 6 月27 日 星期五 14:00 二、活动地点 ： 北京·朗诚大厦 三、预计 规模： 20人左右 四、活动对象： （1）希望了解验证中心，探讨合作机会的各界朋友 （2）医美企业创始人、投资人、行业从业者 分享嘉宾：姚贵金 八大处整形集团副总经理、八大处整形医学概念验证中心负责人 八大处整形医学概念验证中心是国内首家专注整形外科科技成果转化的专业平台，依托中国医学科学院整形外 科医院，聚焦材料、器械、药械结合类创新，为医生、企业、研发团队提供"从概念到产品"的支持与协作网 络。 15:30-16:00 自由交流 报名方式 复制以下链接到IE浏览器进行填写或点击文末 "阅读原文" 进行填写 https://docs.qq.com/form/page/DZmdBbFhUR1ZEaEJ5 或扫描下方二维码进行填写 ...

环球市场动态 内 地 财 政 对 资 金 面 压 力 将 明 显 增 加 股 票 以色列伊朗停战，全球股市情绪大 幅反弹。A 股上涨，沪指重回 3400 店；港股全线上涨，权重的科技股、 金融股纷纷走高；欧洲交易时段尽 管以色列和伊朗双方都指责对方破 坏停火协议，但市场乐观情绪仍较 高推动强劲收涨；鲍威尔国会证词 提及降息，美股三大指数均涨超 1%，金龙中国指数涨 3%。 外 汇 / 商 品 以伊停火协议缓解供应担忧，并且 特朗普表示中国可以继续购买伊朗 石油，原油价格连续第二天重挫； 中东局势降温减弱避险需求，周二 国际金价下跌近 2%；美国消费者 信心弱于预期，鲍威尔降息前景发 出偏平衡的信号，美元指数下跌 0.6%至 97.86。 固 定 收 益 美国短期国债领涨；地缘政治局势 缓和；美国消费者信心意外下降； 鲍威尔重申观望立场，未排除 7 月 降息可能；两年期美债拍卖中标利 率略低于发行前水平，需求略显平 淡。亚洲债市情绪改善，中国投资 级债券利差收窄 1-3bp。 产品及投资方案部 注：bp/bps=基点；pt/pts=百分点 中信证券财富管理 (香港) 免责声明请参考封底 2025 年 6 月 2 ...

Group 1 - The recent tensions in the Middle East have led to a temporary impact on A-share market sentiment, but the market has rebounded, with the Shanghai Composite Index reaching a new high in nearly a month [1] - The market is expected to maintain a slow upward trend as it approaches the policy window period at the end of June, with potential for new policies aimed at stabilizing employment and promoting high-quality development [1] - Popular sectors such as banking and innovative pharmaceuticals may experience short-term fluctuations due to accumulated gains, while TMT and technology growth sectors are anticipated to see a rebound after sufficient adjustments [1] Group 2 - The outlook for July suggests a theme-driven market with high-low sector rotation, as popular sectors like innovative pharmaceuticals and banking have shown signs of correction, while TMT and advanced manufacturing sectors are beginning to rebound [2] - Key focus areas for 2025 include expanding domestic demand and consumption, with expectations for policies to support sectors like dairy products, IP consumption, leisure tourism, and medical aesthetics [2] - The trend towards domestic production of robotics is expected to continue, with opportunities arising in sensors, controllers, and functional robots [2] - The semiconductor industry is projected to see continued domestic growth, with attention on semiconductor equipment, wafer manufacturing, materials, and IC design [2] - The military industry is anticipated to experience a rebound in orders by 2025, with signs of recovery already visible in various sub-sectors [2] - The innovative pharmaceutical sector is expected to reach a turning point in fundamentals by 2025, following a period of adjustment [2] - The AI sector is poised for new catalysts, with significant updates expected from companies like MiniMax, indicating a resurgence in AI-related investments [2] Group 3 - The A-share market has ended a month-long period of consolidation, with the Shanghai Composite Index reaching a new high, supported by a broad-based rally among individual stocks [3] - The market saw a significant increase in the number of rising stocks, with over 4,700 stocks gaining, while only a few sectors like oil and coal experienced declines due to falling international oil prices [3] - Leading sectors included electric power equipment, non-bank financials, retail, automotive, and machinery [3]

关注资本市场的趋势与发展 以下文章来源于信风TradeWind ，作者郑敏芳 信风TradeWind . 作者 | 郑敏芳 起因正是新氧自营诊所复配的童颜针"艾维岚"产品（又称"奇迹童颜"）售价仅为5999元， 为市场公价的1/3，这引发了艾维岚品牌方长春圣博玛生物材料有限公司（下称"圣博 玛"）的不满。 笔者注意到，新氧早在2023年就与上游医美材料商东方妍美（成都）生物技术股份有限公 司（下称"东方妍美"）达成战略合作，后者将尚未上市的童颜针XH301等多款产品的国内 商业化权利独家授权给新氧。 随着此番东方妍美踏上港股IPO之路，其XH301的上市进展情况得以披露。 作为东方妍美的核心产品，XH301预计今年下半年完成国内上市审评，欧盟上市注册进程 则处于提交阶段。 来源 | 信风TradeWind 圣博玛发文指出，不对新氧诊所销售的艾维岚提供正品保证责任；新氧则强调旗下产品均 为正品，指责圣博玛的说法是"无端抹黑"。 导 语： 圣博玛发文指出，不对新氧诊所销售的艾维岚提供正品保证责任；新氧则强调旗下 产品均为正品，指责圣博玛的说法是"无端抹黑"。 童颜针价格战一触即发。 6月19日，新氧CEO金星发文 ...

Core Viewpoint - New Oxygen Technology (NASDAQ: SY) is facing a dual challenge of declining revenue and increasing losses, with significant fluctuations in performance over recent years [1][2] Financial Performance - In 2024, New Oxygen's total revenue is projected to be 1.467 billion yuan, a year-on-year decrease of 2.09% - Gross profit is expected to be 899 million yuan, down 5.72% year-on-year - Net loss is anticipated to reach 587 million yuan, with a net loss attributable to New Oxygen International of 590 million yuan [1] Recent Quarterly Results - In Q1 2025, New Oxygen's total revenue was 297 million yuan, a year-on-year decline of 6.6% - Net loss expanded to 33.1 million yuan, a 56.13% increase compared to the 21.2 million yuan loss in the same period of 2024 - Gross margin decreased from 63% in Q1 2024 to 49% in Q1 2025, indicating a significant decline in profitability [1] Business Challenges - The primary reason for New Oxygen's negative revenue growth is the severe impact on its traditional core business, "Information and Appointment Services" - This segment, which accounted for 100% of revenue in 2020, saw revenue drop from 1.151 billion yuan in 2023 to 929 million yuan in 2024, reducing its share to 63.4% - Emerging platforms like Douyin and Xiaohongshu are diverting advertising budgets from medical beauty institutions, while comprehensive platforms like Alibaba Health and Meituan are capturing market share due to their traffic advantages, leading to a significant reduction in the number of subscribed institutions [2]