New oxygen "hypoxia", the marketing growth strategy has failed

Radar finance produced | Meng Shuai editor | Shenhai

Facing the new oxygen of the "Internet Medicine Beauty", a non -beautiful answer sheet was handed out a few days ago.

In the first half of the year, the revenue of new oxygen recording was 609 million yuan, a year -on -year decrease of 24.9%, which was the first decline in revenue in the past 5 years. In terms of profits, the net loss of new oxygen in the first half of the year was 99.137 million yuan, an increase of 886.99%year -on -year.

Behind revenue and profits, the heavy money of new oxygen in marketing has not been exchanged for long -lasting user growth. The monthly survival of the new oxygen in the second quarter of this year was 3.5 million, and a year ago, the monthly survival of the new oxygen reached an amazing level. At the same time, the marketing of new oxygen has repeatedly clicked on star hotspots, bringing many judicial risks.

New oxygen with poor performance has also been "white -eyed" in the secondary market. New oxygen with a market value of over 10 billion yuan in the past is now US $ 100 million.

New oxygen "hypoxia"

On August 16, the new oxygen release of unaudited financial results as of the second quarter of June 30 this year. As a domestic service provider for consumers and professionals in the social community and medical cosmetic industries, this card that shows new oxygen is not satisfactory.

The financial report shows that the total revenue of 609 million yuan was obtained in the first half of the year. The same period last year was 811 million yuan, a year -on -year decrease of 24.9%. From 2018 to 2021, the growth rate of new oxygen revenue was 138.03%, 86.58%, 12.45%, and 30.69%, respectively, which means Essence

In terms of profits, the net loss of new oxygen in the first half of the year was 99.137 million yuan, which was 12.597 million yuan in the same period last year, a year -on -year more than eight times.

Behind the landslide of the first half of the year's performance, the performance of its first and second quarters could not escape. In the single quarter, the revenue of the first quarter of the new oxygen was 300 million yuan, a year -on -year decrease of 16.49%; the net loss of home mother was 66.841 million, a year -on -year decrease of 48.55%.

Entering the second quarter, the situation of new oxygen revenue and profit decline still failed to reverse. In the second quarter, the new oxygen obtained a total revenue of 309 million yuan, a year -on -year decrease of 31.6%; in terms of profit, the net loss of home returns in the second quarter It was 322.96 million yuan, from a year -on -year to profit.

New oxygen emphasizes in the introduction of the official website that it is not a plastic surgery hospital, nor a plastic surgery intermediary, and it will not make money from consumers. New oxygen is a platform for health and beauty. So where does the revenue of new oxygen come from?

Radar Finance learned that the source of revenue of new oxygen is mainly divided into two major sectors. One is information service income, that is, the admission fee and advertising fee of merchants; the other is to book service A certain percentage of commissions are drawn in the transaction amount of the upper agency.

According to the data disclosed by new oxygen, the number of paid medical service providers on the platform in the second quarter was 5,735, an increase of 836 compared with the 4899 in the same period last year; It was 2622, an increase of 386 compared with 2,236 in the same period last year.

However, the increase in the number of platform medical service providers has not increased income growth to new oxygen. The financial report shows that of the 309 million yuan revenue in the second quarter, information services and other businesses contributed 219 million yuan in revenue, and the reservation service business contributed 30.6 million yuan in revenue. Compared with the same period of the previous year, the income of these two business contributions decreased, with a decrease of 39.2%and 66.4%, respectively.

Regarding the shrinkage of the two business revenue scale, the new oxygen explanation states that the former is due to the decline in the average income of each paid medical service provider, and the latter is due to the repeated and weak macroeconomic environment of the epidemic and the adoption of new operations. The strategy gives users higher subsidies.

In view of the unsatisfactory performance in the first half of the year, the estimates of the new oxygen's performance in the third quarter is quite conservative. New oxygen is expected to obtain a revenue of 310 million yuan to 330 million yuan in the third quarter. It is expected to drop by 28.1%to 23.5%.

Marketing change growth strategy fails

For a long time, the new oxygen has always adhered to the strategy of replacing user growth in marketing. In the second quarter, the total operating cost of new oxygen was 247 million yuan, of which sales and marketing costs decreased by 41.4%year -on -year, but it still reached 122 million yuan, accounting for nearly half of the total operating costs of the quarter, accounting for the total revenue of the quarter The proportion also reached 39.48%.

In fact, marketing expenses have always been a major expenditure of new oxygen. From 2019 to 2021, the marketing costs of new oxygen were as high as 470 million yuan, 726 million yuan, and 793 million yuan, respectively, accounting for more than 40%of the total revenue of the same period, reaching 40.8%, 56.06%, and 46.9%, respectively.

Among the many marketing strategies, in addition to implantation in the popular programs of "Sisters in the Wind" and "Mother -in -law and Mom", neo -oxygen also likes to set up a star traffic express in the tweet. The actual measurement of radar Finance found that at present, the homepage of the official public account of the new oxygen can easily see a large number of posts related to celebrities. For example, in articles pushed by neo -oxygen recently, Nikki Takuya and Han Xing Park Minying were mentioned.

The data shows that the popularity of the "星" star has indeed brought considerable traffic to the neo -oxygen. For example, the recent headline articles pushed by the new oxygen public account can basically get 100,000+ reading volume, but the "蹭" star popularity has a certain degree of popularity. risk. Radar Finance noticed that hundreds of judicial disputes hanging on the new oxygen head, of which infringement disputes can be called "severe disaster -stricken areas." Tianyancha shows that as of now, there are as many as 367 judicial disputes related to Beijing New Oxygen Technology Co., Ltd., of which there are more than 94 network infringement liability disputes, with more than 86 portrait disputes, and 58 copyright ownership and infringement disputes. The number of dissemination of the right to the information network of the work and the number of reputation disputes also reached 15 and 12 respectively.

According to incomplete statistics of radar finance, stars who sued the new oxygen during the year include Xu Weizhou, Qin Lan, Zhang Hanyun and others. Earlier, the stars who sued the new oxygen were very large. Wu Qilong, Hua Chenyu, Ju Jingying, Yue Yunpeng and other stars were transformed into the plaintiff. Or aware of the troubles brought by such incidents, when the new oxygen refers to domestic actresses in the recent tweet, it uses fuzzy to deal with "some love".

The new oxygen of marketing is well -known, and its APP new oxygen medicine is far ahead in the same type of software. According to Observatory's data, the monthly work of the New Oxygers' APP once exceeded 4 million, and even exceeded 5 million. Correspondingly, the second and third -ranked more beautiful APP and Yuemei Plastic Surgery APP have not exceeded the million -level monthly life for many months.

In the last month, the monthly survival of the new oxygen medicine APP was 3.9997 million, which was only one step away from the 4 million mark. At the same time, the monthly survival of the more beautiful APP is 82,300, and the monthly work of Yuemei Plastic Surgery APP is poor, only 77,900.

Although the new oxygen medical APP has a relatively leading position in monthly live data, the strategy of changing the growth of new oxygen marketing seems to have begun to fail.

According to Observatory Data, in December, January, February, and May last year, the monthly living data of the New Oxygen Medicine APP decreased. %, 7.62%, 20.16%, and 6.75%, two declines exceeding 20%. The officially released financial report shows that the monthly life of the new oxygen has "dived" in one year, from 10 million in the second quarter of last year to 3.5 million in the same period this year.

Where should the new oxygen be "seeking oxygen"?

At the same time as weak performance, the stock price of new oxygen was also stunned and all the way. The aura of the "Internet Medicine Beauty" above the head, the market value of neo -oxygen has fallen from $ 2 billion in the past to less than 100 million US dollars, and the market value has evaporated tens of billions of yuan. As of the close of August 17 local time, the market value of new oxygen was US $ 912.589 million.

As the company's US -deposit stocks closed for 30 consecutive trading days, the closing price was lower than $ 1 per share, and the new oxygen also received a delisting warning letter issued by Nasdaq in mid -July. At that time, the new oxygen responded to this that it did not affect the company's business operations, and the company would take all reasonable measures to restore compliance within the prescribed period of time.

In fact, before receiving the delisting warning letter, the new oxygen has considered privatization. As early as November 22 last year, the new oxygen announced that it received a privatization offer from the chairman of the company's board of directors and CEO Venus, and it was planned to acquire its Venus and its affiliated company (buyer at a price of $ 5.3 per share of US deposits per share (buyer (buyer (buyer Group) All new oxygen that has not owned has issued shares. At that time, the CEO initiated a privatized $ 5.3 price. The issue price of $ 13.8 when the new oxygen was listed, over 60 %.

Is the new oxygen going downhill because the medical aesthetic track is no longer popular? In fact, according to the report of Ferrisana, it is expected that the market size of China's medical beauty will reach 351.9 billion yuan by 2025, and it will reach RMB 653.5 billion in 2030. The annual compound growth rate from 2025 to 2030 is expected It is 13.2%.

At the same time, the supervision of relevant departments for the medical and beauty industry is working hard in a more standardized direction. In the middle of last year, eight ministries and commissions such as the National Health and Health Commission jointly released the "Special Rectification Work Plan for Back illegal Medical Beauty Services", requiring key special rectification of illegal medical cosmetic services; since then, the State Administration of Market Supervision has released the "Medical Beauty Advertising Law Enforcement Guide Guide (Draft for comments), and severely crack down on the ten major medical chaos, including "appearance anxiety".

In the background of the industry's increasingly standardized development, new oxygen also exposes certain problems. In October last year, in the "Typical Cases of Anti -Unfair Competition Law Enforcement (Third Batch) in the Key Area of ​​2021 (Third Batch), a new case of medical aesthetics, the State Supervision of the General Administration of Market Supervision, the new oxygen involves two cases, of which the new is the new as the new. The institutional reviews on the oxygen platform are faked, and the institutions on the new oxygen platform use false cases.

In addition, on the black cat complaint platform, complaints related to new oxygen beauty are as many as 412. Consumer feedback includes marketing activities suspected of false propaganda, harassing institutions to sign customers, large price fluctuations, and poor customer service experience.

Facing the vast market and stricter supervision, where the "hypoxia" new oxygen should "find oxygen", it will become a question of company management.

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