以下文章来源于Tech星球 ，作者张宁洢 Tech星球 . Tech星球，聚焦互联网前沿科技和新商业。 来源 | Tech星球 8月15日，新氧第二季度财报披露当天，其股价暴跌22.73%。 这是一份不及预期的财报——2025年Q2，新氧总营收3.79亿元，同比下滑7.0%；净亏损3600万元，而2024年同期则为净利润1890万元； 2025年Q2总成本为1.846 亿元，较上年同期的1.551亿元增长19.0%。 亏损扩大的背后，是新氧的业务变化。 2024年11月，新氧宣布正式推出自营的轻医美连锁——SOYOUNG CLINIC 新氧青春诊所。据36氪报道，截止2025年8月，新氧青春诊所门 店数量已达33家，预计年底将达到50家规模。 在线上平台业务被美团、抖音等众多互联网巨头围剿的情况下，"互联网医美第一股"新氧面临着严重的生存危机。由于线上业务收入下滑， 从2021年开始，新氧业绩持续波动，在2024年亏损明显扩大。甚至在2022年，新氧的美国存托股票连续30个交易日收盘价低于每股1美元， 遭遇退市危机。 因此，新氧不得不寻找新的出路，原本的医美界"大众点评"凭借天然优势开启了自营的线下连锁医美机 ...

Core Viewpoint - The article discusses the rising trend of cosmetic surgery among young people in China, particularly focusing on the motivations and societal influences driving this phenomenon, as well as the implications for the medical aesthetics industry [3][10]. Industry Overview - The Chinese medical aesthetics market is projected to reach a scale of 350 to 400 billion yuan by 2025, with Generation Z (born after 1995) contributing 62% of the consumer share, averaging an annual expenditure of 28,000 yuan, significantly higher than the "post-80s" generation [8][9]. - The demand for medical aesthetics is rapidly increasing, leading to the emergence of companies like Huaxi Biological, Aimeike, and Haohai Biological, which are referred to as the "three swordsmen of medical aesthetics" due to their high profit margins and market presence [9]. Consumer Behavior - Young consumers are increasingly seeking cosmetic procedures as a means of self-improvement, often motivated by social media influences and personal insecurities regarding their appearance [16][36]. - The trend has shifted from traditional surgical procedures to "light medical aesthetics," where non-invasive treatments are preferred, reflecting a desire for natural-looking results [24][25]. Psychological Aspects - Many young individuals view cosmetic surgery as a way to alleviate personal insecurities and enhance their self-image, often influenced by societal standards of beauty propagated through social media [36][39]. - The article highlights that the perception of beauty has become homogenized, leading to a collective anxiety about meeting these standards, which can result in a cycle of dissatisfaction and further cosmetic interventions [38][39]. Risks and Considerations - Despite the popularity of non-invasive procedures, there are significant risks involved, particularly for younger individuals who may not fully understand the medical implications of cosmetic treatments [25][26]. - The article emphasizes the importance of thorough research and awareness regarding the qualifications of practitioners and the safety of procedures, as many young consumers may underestimate the risks associated with cosmetic enhancements [26].

Industry Overview - The Chinese medical beauty market is projected to reach 312 billion yuan in 2024, representing a growth of 14.8% compared to 2023 [1] - The demand for medical beauty in China is still on the rise, with a notable increase in male participation in the sector [3][5] Market Trends - The global medical beauty industry shows that the United States leads in the number of procedures, followed by Brazil, Japan, China, and India [3] - Common procedures for women include liposuction, breast augmentation, eyelid surgery, abdominal contouring, and breast lift, while men primarily undergo eyelid surgery and gynecomastia correction [3] Consumer Behavior - Many individuals pursue medical beauty not solely for aesthetics but also for self-confidence enhancement [6] - There is a growing trend among younger generations to invest time in beauty routines, raising questions about the motivations behind such practices [6][12] Psychological Aspects - The aging process is a natural phenomenon, and while medical beauty can delay visible signs of aging, it cannot prevent them [7] - The perception of beauty and self-worth is increasingly influenced by societal standards and media portrayals, leading to a complex relationship between self-esteem and appearance [6][12] Aesthetic Diversity - There has been a shift from a homogenized beauty standard, often referred to as "internet celebrity face," to a more diverse representation of beauty in media and entertainment [9] - The industry is moving towards emphasizing individual features rather than conforming to a singular aesthetic [9] Private Aesthetic Procedures - Private aesthetic procedures, particularly in the genital area, are gaining attention, with a focus on addressing both medical and cosmetic needs [14][15] - There is a need for better education and destigmatization surrounding these procedures, as many women may have legitimate health concerns that require attention [15][16]