① Industry experts believe that after June this year, the performance of most small and medium-sized medical and beauty institutions across the country will show a downward trend compared with the first half of the year, and the competition next year will be more intense.

② This year, the low-price marketing trend is gradually rising, and the medical and aesthetic industry to achieve the goal of healthy competition, only by reducing prices is impossible to achieve.

③ Aimeike set out to enter the high-end photoelectric project, the head of the medical beauty organization group layout of its own foundry products, the enterprise broke the circle of practice, expert evaluation is different.

financial association on December 26 (reporter he fan) time to the end of the year, the medical market does not seem to be in full swing as predicted at the beginning of the year ". A reporter from the Caixin News Agency learned from the industry that since June, the performance of many small and medium-sized medical and beauty institutions has been significantly inferior to the first half of the year. At the same time, due to the rise of medical beauty live broadcast, medical beauty institutions to fight a price war. During this year's "Double Eleven" period, some institutions in the chattering studio low-cost sales of high-end hyaluronic acid products "Joyaden" triggered heated discussion, such a customer model is to quench thirst or another way is still unknown.

And for industry-leading companies, expanding business lines has become an important attempt to find new profit points. Upstream product enterprises into high-end photoelectric anti-decay projects, midstream medical institutions through the layout of their own contract products to try to reduce costs. Industry experts have different opinions on this. In the increasingly fierce competition in the field of medical beauty, where should companies go?

The recovery of medical beauty is not as expected, and small and medium-sized institutions are "the most injured"

In the first quarter of this year, in the epidemic prevention and control policy optimization, market recovery and other background, the performance of Aimee and other medical listed companies showed that the industry has bottomed out. The time has come to the end of 2023. What is the current situation?

Xiaoya (pseudonym), a staff member of a medical beauty clinic in Deyang, said in an interview with a reporter from the Financial Association that the business of his clinic has not improved this year, but has deteriorated. Most of the people who come are business or civil servants., Teachers, these relatively stable consumers, "The profit of the clinic may be around 50%."

some practitioners of large medical and aesthetic institutions disclosed to the reporter of the financial association, "it is still to look at the hospital area. the operation here in Chengdu is actually OK and has not been greatly affected."

in the record of investor relations activities of langzi shares (002612.SZ) on November 2, the company said that in the first three quarters of this year, the medical beauty business segment achieved operating income of 1.589 billion yuan, up 19.83 percent over the same period last year. Gross profit was 0.867 billion yuan, gross profit was 54.59, up 9.45 percent over the same period last year. Net profit attributable to the parent was 84.47 million yuan, up 58.92 percent year on year.

This also reflects this year's large institutions and small and medium-sized institutions operating trend differentiation of the status quo.

"I think the recovery of medical beauty this year in the first half of the year is still good, because the epidemic prevention policy has just been optimized, when everyone is full of hope for the market, and the backlog of several years of demand has been briefly released. But starting in June, the performance of most of the country's small and medium-sized medical beauty institutions is down compared to the first half of the year." Lin Ying, CEO of Chengdu Meitu Technology, told the Caixin News Agency, especially the previously surgical-based channel medical beauty. As for next year's market, "I think half of the institutions will be a little uncomfortable."

Chapter 14 founder and founder of Fotu Medicine Mei Hexiang told the Caixin News Agency: "The whole market of medical beauty should still be in the recovery stage, there is a lot of pressure, has not yet reached everyone's expectations. And next year the competition will be more intense, the mass and high-end two-tier market will form a differentiation."

Huafu Securities Research Report believes that the overall growth rate of the Q3 medical and beauty sector is under pressure. The medical and beauty sector benefited from the increase in passenger traffic after the epidemic and the impact of last year's low base, H1 revenue to achieve high-speed growth, but into Q3, off-season overlay last year's base increase and other impact, the overall revenue performance under pressure.

in the first three quarters of this year, huaxi biology (688363.SH), one of the "three swordsmen of medical beauty", saw its net profit decline. however, the company told the reporter of the financial association who called as an investor that the decline in the company's performance was not caused by the medical beauty business, but by the skin care business, which is now developing well. Another leading medical beauty enterprise, Aimei Ke (300896.SZ), although its net profit increased in the first three quarters, but growth slowed in the third quarter. Guojin Securities said in the research report that it was mainly due to the overall lower-than-expected recovery of domestic consumption, and medical and beauty consumption was still affected.

How should companies respond to the rise of low-cost marketing?

under such a market trend, the low-price marketing trend is gradually rising this year, especially the Qiao Yadeng price-breaking incident during the double eleven this year, which has attracted the attention of the industry. this has also become a new problem that upstream medical and beauty enterprises and midstream medical and beauty institutions have to face.

according to media reports, during the double eleven this year, some medical and beauty institutions have sold hyaluronic acid in the chattering studio. among them, the price of Qiao yaden elegant is as low as 1999 yuan/branch, while its market price is usually around 9,000-12,000 yuan/branch. Subsequently, Joyaden sent a letter of notification to the tremolo and attached a list of organizations that sold Joyaden at a broken price on the tremolo, indicating that these organizations had not purchased the Joyaden products sold from authorized dealers in the past year.

Why is low-cost marketing so popular? Lin Ying to the Caixin News Agency reporter analysis that, on the one hand, the rise of institutional medical beauty live broadcast, the price of instruments and injections pulled very low, each other are fighting prices, this field of competition is very red sea, on the other hand, from the consumer's point of view, in the current economic environment, spending and consumption frequency are reduced. "In this case, low-price marketing is a strategy, from the company's point of view, I think there is nothing wrong with it, and living is the most important thing. It's just that whether this way is to drink poison to quench thirst or to say that there is another village in the dark, it's not clear now, only time can give the answer."

Mei Hexiang bluntly opposed low-price competition to the Caixin News Agency reporter. He believes that it is not a good decision to rely solely on price reduction, because for the user group of medical beauty, price is not their most important consideration., Will soon cause "looting" to the entire industry ".

This view was also recognized by the medical and aesthetic institutions interviewed by the Caixin News Agency.

Dr. Meng, who works at a medical beauty agency in Chengdu, told the Caixin News Agency: "Such an approach is more for the agency to seize the market, but medical beauty has always been a medical-oriented aesthetic pursuit, and the discount that seems to get from the cheap may not get too good results. In the end, it's up to the doctor to operate, and with the same labor costs, you can only get bad results."

Xiaoya also believes that: "low-cost marketing is a lot of pit, always believe that a penny a penny goods. If the price is particularly low, or even significantly lower than the market, it is necessary to consider where the problem is. Medical institutions if there is no core competitiveness, it is easy to collapse, such as hospital machines, doctor technology, cost-effective, operating costs are very important."

What is the impact of the current situation of low-price competition on the performance of medical and American companies? In this regard, Lin Ying believes that "it depends on the strategic objectives of the company in the next few years, whether to choose the market or the gross profit margin."

huaxi biology said that the company's medical and beauty business is not directly facing consumers, and the promotion price of this part of the business is not the only decisive factor, but needs to empower institutions, train institutions, cooperate in design schemes, etc.

In this regard, Mei Hexiang agreed. He told the Caixin News Agency that in order to achieve the goal of healthy competition in the medical and beauty industry, the first is to emphasize the value of doctors, and through the creation of classic cases, to further form institutional technology Differentiation, the formation of a technology-oriented propaganda model; second, to improve the level of service, really good service is very important for medical and beauty consumers, good service can bring repeat customers, at the same time, it can improve operational efficiency; the third is that products need to be innovated. In addition, it is important to further reflect the importance of compliance, especially for small and medium-sized institutions. If there are high claims, it will be a fatal blow.

Enterprises "break the circle" and look for new profit points

the reporter of the financial association also noticed that the trend of "breaking the circle" of medical and beauty enterprises has been further deepened this year. in November this year, the leading medical and beauty enterprise, aimeike, announced that it had signed a "distribution agreement" with South Korea's Jeisys Medical Inc. (hereinafter referred to as "Jeisys"). the agreement involves two types of photoelectric instruments. the agreement will take effect from the date when the authorized representatives of formal signing, the validity period will last for 10 years after the product receives regulatory approval.

Through this cooperation with Jeisys, Amex has successfully introduced two non-invasive anti-aging skin instruments, and plans to register and sell them commercially in China. This strategic cooperation aims to expand the company's medical beauty product line, enrich the medical beauty dermatology product category, and further consolidate the company's layout in the field of medical beauty dermatology.

it is reported that in the past two years, many enterprises including haohai shengke (688366.SH), east China medicine (000963.SZ) and beitani (300957.SZ) have laid out high-end photoelectric anti-aging projects through acquisition, cooperation and other means.

dr. Meng disclosed to the reporter of the financial association news agency that the photoelectric project has a good effect and many customers make ultrasonic cannons. Each cost is about 10000 yuan, but the effect can be maintained for more than a year. "The whole face can be raised, and the effect is very good. The photoelectric has a 20% effect on the day when it is finished, but it can reach the best after three months, and then slowly enter the metabolic period. The profit margin of our clinic on the photoelectric project is between 30% and 40%."

In addition to upstream companies looking for new breakthroughs, midstream companies are also exploring ways to reduce costs, trying to get through upstream product links. Xiaoya told the Caixin News Agency that some large chain organizations will independently develop products, but ordinary clinics and institutions are still using other people's products.

according to the brokerage research report, many head medical and beauty organization groups have laid out their own contract products, such as Longzi shares to create the Furnie Wei series of products and Runluowei, Huahan shares (430335) has Heyin Shiman, ARSMO hyaluronic acid and so on.

the staff of the securities department of langzi shares told the reporter of the financial association who called as an investor that some medical and beauty companies currently have some self-developed products. as they are the main ones in the hospital, the consumption data are not bad now. However, these products are currently limited to Langzi Medical Beauty. When asked if there are plans to sell them to other medical beauty institutions, the staff member said: "It is not clear for the time being, but I personally think the possibility will be relatively low."

In this regard, Lin Ying said that the "broken circle" approach of enterprises is not a big trend, but a large head of enterprises based on their own business, and constantly raise barriers to competition and obtain maximum benefits.

Mei Hexiang is more inclined to the path of refined development. He believes that from the perspective of international trends, everyone is doing more and more detailed and narrower, and focusing on a certain point can better enable enterprises to form their own technological advantages. Specialization and segmentation are the constant trends in the future. Collection

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