It is difficult for the medical beauty industry to reap the "IQ tax"
Various situations such as creating "appearance anxiety" will be hit hard
Yangcheng Evening News reporter Ding Ling and intern Wei Wei
The medical beauty industry welcomes stronger supervision again!
Recently, the State Administration for Market Regulation solicited opinions on the "Guidelines for the Law Enforcement of Medical Beauty Advertisements (Draft for Comment)" (hereinafter referred to as the "Guidelines for Law Enforcement"), and it is clear that various medical cosmetology advertisements will be rectified in accordance with the law. The deadline for feedback is September 26th.
Focus on a variety of situations
The "Enforcement Guidelines" clarified that the market supervision department will focus on solving the problems of great harm and concentrated public feedback, and will focus on cracking down on a variety of situations.
These include violating good social customs, creating "appearance anxiety", improperly linking poor appearance with negative evaluation factors such as low energy, laziness, and poverty, or improperly linking outstanding appearance with positive evaluation factors such as high quality, diligence, and success. Advertise drugs and medical devices that have not been approved or filed by the drug administration department.
It is worth noting that the regulatory authorities have introduced several special rectification measures for the medical beauty industry before.
On June 10 this year, the National Health Commission and other eight ministries and commissions jointly issued the "Special Rectification Work Plan for Combating Illegal Medical Beauty Services", and decided to jointly launch a special rectification work against illegal medical beauty services from June to December this year to severely crack down on illegal medical services. Beauty activities, standardize medical beauty service information and medical advertising behaviors, etc.
After the State Food and Drug Administration and the National Health Commission recently issued notifications or popular science articles to prompt and prohibit medical and aesthetic disorders, on July 30, the General Office of the National Health Leg Surgery" notice; on August 11, the official website of the State Food and Drug Administration published the article "Scientific Understanding of "Brushing Acid" Beauty", reminding the public to pay attention to the risks of "brushing acid treatment".
Medical beauty concept stocks perform well
Behind the frequent regulatory actions, my country's medical beauty industry is in a stage of rapid development.
According to data from iResearch, the scale of China's medical aesthetics market has reached 197.5 billion yuan in 2020, and the number of users is about 15.2 million.
The popularity of the medical beauty industry has also given the medical beauty sector the expression "Moutai for men and medical beauty for women" in the secondary market.
Flush data shows that there are currently 51 medical beauty concept stocks in the A-share market. Judging from the 41 semi-annual reports that have been disclosed, the first half of the performance of medical beauty concept stocks is more impressive.
Among them, the net profit of 12 companies including Longzi, Jimin Medical, Guangzheng Ophthalmology, and Haohaishengke in the first half of the year increased by more than 100% year-on-year.
Among them, the leading company Amicco has the highest gross profit margin, reaching 93%.
According to the semi-annual report of Amec, the company achieved operating income of 633 million yuan in the first half of the year, an increase of 161.87% over the same period of the previous year; net profit of 425 million yuan, an increase of 188.86% over the same period last year.
In terms of products, the gross profit margin of Amicco's solution injection products and gel injection products in the first half of the year exceeded 93%. The two major products achieved revenues of 476 million yuan and 148 million yuan, respectively, an increase of 230.38% and 57.39% year-on-year. .
According to the semi-annual report of Hao Hai Shengke, the company's net profit attributable to the parent and non-net profit attributable to the parent increased by 739.25% and 2722.36% respectively, reaching 231 million yuan and 221 million yuan.
During the reporting period, the company's revenue from medical beauty and wound care products achieved substantial growth, an increase of 136.39%, reaching 180 million yuan.
Among them, the sales revenue of hyaluronic acid products increased by 143.16% year-on-year to 120 million yuan.
The medical beauty sector has cooled significantly in the past two months.
Since July, the medical beauty index has fallen by 26.62%.
In terms of individual stocks, since July, the share price of International Medicine has fallen by more than 40%, Aoyuan Meigu and Langzi shares have fallen by more than 38%, Huaxi Bio and Huadong Pharmaceutical have fallen by more than 30%, and Amica has fallen by about 24%.
Will drive industry standard operation
It should be said that with the rapid development of the medical beauty industry, the voice of medical beauty companies being questioned about harvesting the "IQ tax" is endless.
After hyaluronic acid was approved to enter the food industry in January this year, "eatable hyaluronic acid" products have emerged in endlessly.
Take Huaxi Biology as an example. Its "Shuijiquan" hyaluronic acid drinking water began to be sold on the Internet on March 22, and it claimed that the product can "replenish hyaluronic acid while drinking water."
However, some people in the industry claim that there is no clinical evidence for the efficacy of hyaluronic acid as a food.
After the release of the "Enforcement Guidelines", investor discussions were also quite enthusiastic, and there were many voices of disagreement.
For example, in the stocks of Amec, some investors believe that "it is bad for informal companies, but good for formal companies", while some investors said that "I feel at ease when I see so many people who are bearish."
How do listed medical aesthetics companies view the current special rectification measures introduced by the regulatory authorities?
In fact, many medical cosmetology companies have recently expressed relevant views on the recent rectification of the medical cosmetology industry in the aforementioned countries.
For example, during a survey conducted by the reception agency on August 24, Amic said that the continued strict supervision can drive the standardized operation of the industry, which is conducive to the development of the industry.
Whether it is the industry’s medical device and drug providers, or downstream medical institutions, they can establish a good reputation among consumers under strict national supervision; and as industry information becomes more transparent and symmetrical, it is important for consumers to increase their awareness of medical beauty. The confidence of the industry and the increase in product penetration are beneficial.
In August, Huadong Medicine also stated that the state vigorously rectified and regulated the medical aesthetics industry will help eliminate illegal medical aesthetics institutions, accelerate industry clearance, increase the market share and industry concentration of legal institutions, and promote the development of the medical aesthetics industry. Supply-side reforms will reshape the industry structure.