另一家"童颜针"生产商普丽妍也于上个月将40余家新氧青春诊所列为"非官方合作医疗机构"；今年6 月，圣博玛发表公开声明，称新氧销售的"童颜针"产品"艾维岚"为非合规授权渠道，并指该诊所的医生 未接受厂家培训指导，难以保障消费者健康安全。 针对多家供应商"围堵"，12月12日，新氧旗下"新氧青春诊所"在公众号发布声明，直指上游厂商固化高 价体系，弱化医疗机构的自主定价权。 来源：第一财经 近日，医美公司新氧的低价策略激化了与上游厂商的矛盾，并已遭到多家供应商抵制。12月15日美股收 盘，新氧（SY.US）股价当天大跌近6%，近5个交易日股价累计下跌约10%。 引发最新矛盾的是12月11日"童颜针"生产商斐缦生物的一纸公开声明，该公司称，已自10月1日起已经 停止向新氧集团及其下属新氧青春诊所等供应"弗缦"产品（一种胶原蛋白填充剂）。声明还强调，"以 上机构若继续大量销售我公司'弗缦'产品，则涉嫌产品从不合规渠道获得，或为假冒伪劣产品。" 第一财经记者梳理公开信息发现，目前已经在国内获批上市的"童颜针"产品已有约11款，包括圣博玛生 物的"艾维岚"、爱美客的"濡白天使"、高德美的"塑颜萃"、普丽妍的同名产品以及四 ...

Core Viewpoint - The article discusses the recent conflicts between medical beauty company New Oxygen and its upstream suppliers due to New Oxygen's low pricing strategy, which has led to a significant drop in its stock price and supplier resistance [3][6]. Summary by Sections Supplier Conflicts - New Oxygen's low pricing strategy has intensified conflicts with suppliers, leading to several suppliers, including Faiman Bio, ceasing to supply products to New Oxygen since October 1 [3][4]. - Suppliers claim that New Oxygen's pricing disrupts the market's pricing system, resulting in a "supply cut" from multiple manufacturers [5][6]. Pricing Strategy - New Oxygen offers its own brand of "童颜针" (youthful needle) products at significantly lower prices compared to the market, with prices as low as 999 yuan for the basic version and 2999 yuan for the upgraded version [5]. - The article highlights that while major brands price their products above 10,000 yuan, New Oxygen's pricing strategy allows it to sell similar products for much lower prices, attracting a large customer base [5][6]. Business Model - New Oxygen's business model is characterized by using low prices as a customer acquisition strategy, collaborating with upstream manufacturers to eliminate middlemen and reduce costs [6][7]. - The company reportedly utilizes lower-cost OEM production methods, allowing it to maintain high profit margins despite lower retail prices [6][7]. Market Impact - The ongoing conflict between New Oxygen and its suppliers is expected to have limited long-term effects on the overall market, with the public disputes serving to clarify positions among the involved parties [8].

"童颜针"的主要成分为"聚左旋乳酸（PLLA）填充剂"，这种产品被宣传为可以通过注射刺激皮肤胶原 蛋白再生，实现面部轮廓塑形、皱纹改善的中长效（2-3年）抗衰医美产品。 近日，医美公司新氧的低价策略激化了与上游厂商的矛盾，并已遭到多家供应商抵制。12月15日美股收 盘，新氧（SY.US）股价当天大跌近6%，近5个交易日股价累计下跌约10%。 引发最新矛盾的是12月11日"童颜针"生产商斐缦生物的一纸公开声明，该公司称，已自10月1日起已经 停止向新氧集团及其下属新氧青春诊所等供应"弗缦"产品（一种胶原蛋白填充剂）。声明还强调，"以 上机构若继续大量销售我公司'弗缦'产品，则涉嫌产品从不合规渠道获得，或为假冒伪劣产品。" 另一家"童颜针"生产商普丽妍也于上个月将40余家新氧青春诊所列为"非官方合作医疗机构"；今年6 月，圣博玛发表公开声明，称新氧销售的"童颜针"产品"艾维岚"为非合规授权渠道，并指该诊所的医生 未接受厂家培训指导，难以保障消费者健康安全。 针对多家供应商"围堵"，12月12日，新氧旗下"新氧青春诊所"在公众号发布声明，直指上游厂商固化高 价体系，弱化医疗机构的自主定价权。 不过，12月16日，第 ...

一场围绕"童颜针"的价格战，拷打的不止是医美行业的定价体系，更是新氧的转型之路。近日，童颜针厂商普丽妍公开点名新氧旗下数十家诊所为"非官方 合作机构"，质疑其产品来源与医生资质，而新氧则强硬回应，强调其产品渠道合规、全程可溯。这已是新氧今年第二次与上游厂商公开对峙，今年以来， 新氧以"奇迹童颜"系列将"童颜针"价格从万元级一路拉低至2999元，并进一步通过与西宏生物合作推出定制款"塑缇妍"（奇迹童颜3.0），以差异化的规格与 创行业新低的定价，试图完全掌握定价自主权。 激烈价格战的背后，是新氧转型的迫切。面对线上流量红利消退，这家曾经的医美垂直平台正试图通过自建"青春诊所"完成转型。然而，重资产扩张带来的 成本压力、与传统合作生态的冲突以及服务质量与合规性的质疑，共同构成了其转型之路上的多重考验。胜负的关键，或许不在于价格能否更低，而在于其 能否在颠覆之后，构建一个真正健康、安全且可持续的新模式。 "厂商没办法出货了" 当一份列有79家"非官方合作医疗机构"的名单公开，一场持续半年的"童颜针定价权之争"再次升级。 近期，童颜针厂商普丽妍公开发布"非官方合作医疗机构"名单，直指46家新氧青春诊所在内的70余家医 ...

Core Viewpoint - The ongoing conflict between upstream manufacturers and downstream medical beauty institutions highlights issues of product authorization and market competition in the rapidly expanding medical beauty industry in China [2][5][12]. Group 1: Conflict Overview - Puli Yan accused several medical institutions, including Anhui Hefei Hanmei Plastic Surgery Hospital and Xinyang Youth Clinic, of being "unauthorized cooperation institutions," warning of potential health risks for consumers due to unverified product sourcing [1][2]. - Xinyang responded by asserting that all Puli Yan products used are sourced from legally qualified suppliers and emphasized compliance with ISO 37301 management standards [1][2]. Group 2: Market Dynamics - The medical beauty market, particularly the "童颜针" (youthful needle) segment, has seen rapid growth, with market size increasing from over 1 billion yuan in 2021 to an estimated 30 billion yuan last year, projected to reach 100 billion yuan in five years [5][6]. - Xinyang's introduction of lower-priced products, such as the "奇迹童颜" series, has disrupted the pricing structure established by upstream manufacturers, leading to tensions and demands for product removal from the market [5][6]. Group 3: Compliance and Regulation - Concerns have been raised regarding Xinyang's compliance with regulations, as some manufacturers claim that Xinyang has used products without proper authorization, potentially jeopardizing consumer safety [8][9]. - Legal experts emphasize that medical institutions must procure products from authorized sources to ensure traceability and compliance with regulations, highlighting the risks associated with unauthorized procurement [9][12]. Group 4: Industry Challenges - The medical beauty industry faces significant challenges, including the prevalence of unauthorized sales and counterfeit products, which threaten consumer safety and complicate regulatory enforcement [12][13]. - The need for a collaborative approach among manufacturers, medical institutions, and regulatory bodies is critical to establish a sustainable and compliant industry ecosystem [14].

Core Insights - The article discusses the launch of a new low-priced product, "Miracle Youth 3.0," by the internet medical beauty platform New Oxygen, which has significantly reduced the price of the "youthful needle" to 2999 yuan, breaking the previous market average of over 10,000 yuan [1][2] - New Oxygen aims to disrupt the high-price cycle in the medical beauty industry and make compliant medical beauty services more accessible to consumers [1][6] - The company is facing performance pressures, with a reported 7% year-on-year decline in overall revenue and a net loss of 36 million yuan in Q2 2025 [1][4] Market Dynamics - The "youthful needle" market is rapidly expanding, with an expected B-end market size of 4.2 billion yuan by 2025, up from 500 million yuan in 2021 [2] - New Oxygen's strategy includes reducing customer acquisition costs and lowering unrelated treatment costs to maintain service quality while implementing low pricing [3][4] - The company has launched a new chain brand, "New Oxygen Youth Clinics," with 37 stores opened and plans to exceed 50 by the end of 2025 [3][4] Financial Performance - New Oxygen's offline business revenue surged by 426.1% year-on-year to 144 million yuan in Q2 2025, surpassing online business revenue for the first time [4] - Despite the growth in offline business, the overall revenue decline reflects the challenges of transitioning from traditional platform services to new business models [4][5] - The company is currently in a loss phase for its chain business but expects to reach profitability as it scales [4][5] Industry Challenges - The medical beauty industry is described as being in a "vicious cycle," where high upstream costs lead to inflated prices, pushing consumers towards unregulated options [6] - New Oxygen's CEO emphasizes the need for a shift towards lower prices to enhance consumer trust and increase market penetration [6][7] - The market is witnessing a shift towards "light medical beauty," which is expected to drive growth and lower consumer barriers [7] Competitive Landscape - Major internet companies are increasingly entering the medical beauty sector, intensifying competition [7] - New Oxygen welcomes the entry of more competitors, believing it will help develop and expand the new business model of medical beauty chains [7]

Core Viewpoint - The launch of the new "Miracle Tongyan 3.0" by Xinyang at a price of 2999 yuan marks a significant price drop in the market for Tongyan injections, which typically exceed 10,000 yuan, establishing a new low price point in the industry [1][4]. Pricing Strategy - Xinyang's pricing strategy is based on obtaining pricing authority from upstream manufacturers, allowing them to offer competitive prices [6][7]. - The previous versions of Tongyan injections were priced at 4999 yuan and 5999 yuan, indicating a trend of progressively lowering prices [4][9]. Market Context - The current market for Tongyan injections includes several high-priced products, with manufacturers like Saint Boma and Kanjie Pharmaceuticals pricing their products between 12,800 yuan and 14,800 yuan [4][9]. - The trend of decreasing prices for Tongyan injections is expected to continue, driven by market demand and product effectiveness [5]. Company Performance - Xinyang's clinics have achieved monthly profitability at the store level, although overall profitability is still pending due to the costs associated with middle and back-end operations [9]. - The company plans to expand its clinic network significantly, aiming for over 50 locations by the end of 2025, with a long-term goal of establishing a presence in 100 cities [9]. Financial Growth - Xinyang reported a substantial increase in revenue from its light medical beauty chain business, with a year-on-year growth of 551.4% in Q1 2025, reaching 98.8 million yuan [10]. - In Q2 2025, revenue from beauty treatment services also saw a significant increase of 426.1%, totaling 144.4 million yuan [10].

Core Viewpoint - The medical beauty market in China is experiencing a "price war," initiated by the internet medical beauty platform New Oxygen, which has significantly reduced the price of its "Miracle Youth 3.0" product to 2999 yuan, aiming to disrupt the high-price cycle in the industry [1][3]. Group 1: Market Dynamics - New Oxygen's price reduction strategy is intended to shift the medical beauty industry from a "seller's market" to a "mass consumer" market, making compliant medical beauty services more accessible to consumers [1][5]. - The market for "Youthful Needle" treatments is rapidly expanding, with projections indicating that the B-end market size will reach 4.2 billion yuan by 2025, up from 500 million yuan in 2021 [3][4]. - The medical beauty consumer demographic is evolving, with 90% of sales now coming from working and middle-class women, indicating a shift towards a broader consumer base [7]. Group 2: Company Strategy - New Oxygen's CEO, Jin Xing, emphasizes that the low-price strategy is crucial for eliminating "black medical beauty" practices by making compliant services affordable [1][6]. - The company has faced challenges with suppliers due to its aggressive pricing, leading to supply disruptions and demands from manufacturers to withdraw products from the market [4][5]. - New Oxygen's offline chain business has become a significant revenue driver, with a 426.1% year-on-year increase in revenue from this segment, surpassing online business for the first time [8]. Group 3: Financial Performance - In Q2, New Oxygen reported a 7% year-on-year decline in overall revenue to 379 million yuan, with a net loss of 36 million yuan, attributed to a decrease in the number of medical service providers on its subscription platform [1][8]. - The company's gross margin for its chain clinics was 24.3%, significantly lower than the industry average of over 50%, reflecting its low-margin strategy aimed at fostering a healthier operational model [5][6]. Group 4: Future Outlook - New Oxygen is actively working on supply chain integration by acquiring and representing key equipment and products, indicating a strategic move to gain control over its supply chain [9]. - The company plans to develop its own brand of medical beauty products, which will be used internally and sold to other institutions, further expanding its market presence [9].

Core Viewpoint - The internet medical beauty platform, New Oxygen, has launched its new "Miracle Youth 3.0" at a price of 2999 yuan, significantly lower than the previous market average of over 10,000 yuan, aiming to disrupt the high-price cycle in the medical beauty industry [1][4]. Group 1: Pricing Strategy and Market Position - New Oxygen's price reduction strategy is intended to shift the medical beauty industry from a "seller's market" to a "mass consumer" market, making compliant medical beauty services more accessible [1][5]. - The CEO of New Oxygen, Jin Xing, believes that lowering prices is crucial to eliminate "black medical beauty" practices in China, as high prices drive consumers to seek unregulated services [6][7]. - The company aims to achieve a healthy operational model in the medical beauty industry by demonstrating that high profits are not necessary for sustainability [5][6]. Group 2: Market Growth and Potential - The market for "youthful needles" is rapidly expanding, with projections indicating that the B-end market size will reach 4.2 billion yuan by 2025, up from 500 million yuan in 2021 [4]. - New Oxygen's focus on "youthful needles" is based on their clear treatment principles and effective results, positioning it as a long-term growth area in the medical beauty sector [4][5]. Group 3: Business Transformation and Challenges - New Oxygen's offline chain business has become a significant revenue source, with a 426.1% year-on-year increase in revenue from this segment, surpassing online business for the first time [8]. - Despite the growth in offline business, the company faced a 7% decline in overall revenue in Q2, resulting in a net loss of 36 million yuan, attributed to a decrease in the number of medical service providers on its subscription platform [1][8]. - The company is actively working to reduce its reliance on suppliers by customizing products and exploring the development of its own medical beauty brand [9].

Group 1: New Technologies and Innovations - New Stone Technology announced the delivery of its 10,000th unmanned delivery vehicle, marking the world's first fleet of this scale and indicating a significant shift from technology validation to large-scale commercialization in the unmanned delivery industry [1] - New Stone's achievement demonstrates the reliability of technology and commercial viability, significantly reducing costs through scale, providing a model for industry profitability [1] - The industry competition is currently focused on road rights and cost, with New Stone leading due to its advantages in road rights across hundreds of cities and a cost of approximately 70,000 yuan, although competitors like Momo and Jiushi have achieved lower pricing [1] Group 2: Consumer Goods and Market Trends - Luo Yonghao announced plans to evaluate pre-packaged meals available on the market, emphasizing a neutral stance by not engaging in live commerce, which could enhance consumer trust in the industry [2] - This initiative comes at a critical time for the industry, potentially pushing companies to strengthen quality control and shifting competition from price wars to brand trust [2] Group 3: Pricing Strategies in the Beauty Industry - New Oxygen launched its new product "Miracle Youth 3.0" at a price of 2,999 yuan, aiming to address high prices and rampant black market practices in the medical beauty industry [3] - The introduction of this competitively priced product targets the issue of inflated prices in the market, potentially leading to a more rational pricing system [3] - However, the low pricing strategy may trigger a price war in the industry, necessitating New Oxygen to ensure service quality while exploring sustainable business models [3] Group 4: E-commerce and Brand Expansion - Alibaba's AliExpress launched the "Super Brand Going Global Plan," aiming to achieve higher sales at half the cost of Amazon, directly challenging Amazon's dominance in the mid-to-high-end brand market [4] - In the first half of the year, AliExpress saw a 70% year-on-year increase in new brands, with over 500 brands doubling their sales and more than 2,000 brands expanding into new overseas markets [4] - This initiative signifies a shift from a focus on cost-effectiveness to targeting the mid-to-high-end market, reshaping the landscape of cross-border e-commerce and prompting a shift towards refined operations and cost control [4]