新氧2026年第二季度财报电话会议纪要

发布时间：2026-09-01 一、AI总结内容 一、核心要点 1. 2026年第二季度，新氧集团整体收入5.1亿元，同比增长33%，创季度历史新高；连锁业务收入3.3亿元，同比增长130%，超指引上限5个百分点；规模净亏损2269万元，同比减亏37%。 2. 连锁业务Q2核销人次突破16.5万次，同比增145%；核销服务点超36.2万个，同比增137%；活跃用户超25万，L3以上核心会员超7.8万，核心会员复购率出色。 3. 本季度新开门店11家，至18城共65家门店；47家实现店端盈利，51家现金流为正；连锁业务毛利率同比提升3.8个百分点至28.1%。 二、业务进展 1. 产品端：联合锦波生物推出奇迹胶原产品，累计售出超6600支；上线含自交联技术的微美薇产品，还推出PLLA微球技术的医美版本；计划将与锦波生物的合作模式拓展至国内外更多药械企业。 2. 标准化能力：截至Q2末，连锁全职医生增至280位；Q2联合上游厂商开展9场专项培训，完成12场新医启航培训，保障服务标准化与安全性。 3. AI落地：当前AI用于扫码认证、中后台质控、数据治理等环节；计划Q4推出第一代全智慧门店，大规模落地AI工具，复制输出高标准医疗与运营能力。三、减亏与盈利规划 1. 减亏核心抓手为聚焦主航道，保障现有医美产品与注入业务持续贡献利润和正向现金流，推动连锁业务运营效率提升以实现整体盈利，减少对亏损业务的投入。 2. 连锁业务盈亏平衡点清晰，Q2已维持超130%高增速，毛利率持续提升，获客效率优化；预计Q3、Q4连锁毛利将持续大幅改善，叠加经营杠杆释放、秋冬季业务高峰，连锁业务整体盈利目标可实现。 四、风险与后续关注 1. 存在业绩增长不及预期、行业竞争加剧、医疗合规风险、上游合作稳定性等不确定性因素。2. 需持续关注供应链成本变化、门店拓展节奏、AI落地效果、新产品市场反馈等事项。 二、音频原文（转写） Ladies and gentlemen, thank you for standing byfor so young's second quarter twenty-twenty-sixth earning conference call. At this time, all participants are in a distance only mode. After management give their prepared remarks, there willbe a question and answer session. As a reminder,today's conference call is being recorded. I would now like to turn the meeting over to your host for today's call, Miss Bonna Chiao. Please proceed, Mona. Thank you, operator, and thank you everyone for joining Solyang's second quarter 2026 earnings conference call. Joining the call today are Mister Xinjin, our founder, chairman andCEO, and Miss Shanmishan, our executive officer. Before we begin, please refer to the safe harbor statement in our earnings release, which applies to this call and will be beginning for a looking sequence. We will also discuss non GAAP financial measures. The considerations between GAAPand non GAAP measures are in Included in today's earnings price release. Please also note. Bothin their commission in this call are in R M D.online background white security. With that, I'dlike to turn the call over to Nick Chishanjin.大家好。 欢迎参加今天的财报电话会议。2026年第二季度 我们坚定践行规模与效益双轮驱动战略。持续深耕线下连锁业务 依托不断夯实的专业医疗能力 日益完善的标准化交付体系 及智能化应用的深度赋能 连锁业务的规模化运营能力得到持续提升。业绩表现保持强劲。 本季度连锁业务收入达到三点三亿元人民币。同比增长约百分之一百三十。超越指引上限约五个百分点。集团实现季度收入历史新高。 整体收入同比增长百分之三十三。是5.1亿元人民币。叠加集团运营效率的提升 规模净亏损同比大幅收窄高。两千两百六十九万人民币 同比减亏百分之三十七。 Hello everyone and welcome to today's earnings call. if you too, from twenty six, we continue toexpand our accepted treatment business. Guidedby our dual interest of scale and efficiency. backed by our ever-injuring medical capabilities is uniform delivery framework and wider AI adoption the business enhanced its operational abilityAnd delivered a robust performance. it's Q two,then we reached R and B three hundred thirty milli up roughly one hundred thirty percent year over year. beating the upper end of guidance by about 5%. As a result, two gram units is called the record. growing 33% year over year to about Rand B five hundred or ten million. with betteroperating efficiency Next was attributable to th e company, narrowed by. thirty seven percent year over year. to RMB twenty two point seven million. 下面具体分享一下。 我们第二季度的核心业务进展。本季度双轮驱动战略成效显著。新阳青春诊所在保持良好拓展节奏的同时 今年质量也在稳步下滑。截至第二季度，新郎新生诊所已进入十八个城市。 门店总数达到六十五家。规模化不但提升了服务的可行性。更通过强化品牌认知 有效占领了用户心智。从而驱动服务量。 与用户规模持续提升 在服务量方面。二季度连锁核销人次 突破十六点五万次 同比增长百分之一百四十五。核销服务点数量超过36.2万个。同比增长百分之一百三十七。 在用户规模方面。活跃用户数在六月底。突破了25万人民。其中L三级以上的合金会员数 超过了7.8万。 核心会员季度复购率依然保持在出色的水平。体现了用户对连锁医疗交付质量的高度认可。在新课方面。本季度新客人数继续保持环比增长。 其中，老带新裂变贡献的新客占比。稳定在百分之五十以上。不仅有效摊薄了综合获客成本。跟帮助我们沉淀了高粘度的优质用户资产。 为后续提升用户全生命周期价值 和留存率打下了坚实基础。同时，公益新客数量及占比。They are also able to help us with the business development in Q2. The door and jail approach deliveredclearly throughout this quarter. Zouyang Clinicskept a healthy pace of expansion while operating quality improved. By the end of Q2, Zouyang Clinics expanded into 18 cities with 65 percentagein total. The larger footprint improved accessibility. More importantly, it's reinforced threatawareness and captured consumer mind share. Driving continued growth in treatment volume and user base. On treatment volume, verified visit exceeded 165,000 in Q2, up 145% year over year. Verified and accepted treatment performed were above 362,000, up 134% year over year. On the user front, Active users reached over 250,000 by the end of June. In particular, the number of Level 3and both core members exceeded 38,000. The quarterly return rate of core members remained robus t, reflecting high user regard for our quality.New customers count also grew quarter to quarter, with over 60% of them being referrals. This lowers blended acquisition costs while building aloyal high quality user. Service rich in turn positions us to this easier LTV and extension. Meanwhile, both the volume and mix of public domainnew customers yields, confirming that our fullchannel acquisition playbook works. 此外，门店的盈利能力也在持续改善。 通过系统性的优化运营流程，强化资源协同，门店运营效率得到了有效提升。得益于此，二季度实现店端盈利的门店销。数量增至四十七家现金流为正的门店达到五十一家连锁业务的总体毛利率同比提升约三点八个百分点达到百分之二十八点一这些成果均验证了我们管理举措的有效性。Lose to forty seven with fifty one generating positive operating cash flow