YiZhi (easySCULPT) Files IPO Prospectus: Pioneering China's High-Growth Fat Sculpting Niche in Aesthetic Medicine
Looking back at the development of the medical aesthetics industry over the past two decades, it is evident that the overwhelming majority of efforts were focused on facial treatments. However, when examining specific consumer procedures, people are increasingly reluctant to undergo invasive facial surgeries, instead turning their attention to body contouring and enhancement treatments.
According to the Aesthetic Medicine Industry White Paper released by SoYoung, the proportion of facial procedures in surgical aesthetic medicine consumption in 2021 decreased by nearly 7% compared to 2019, while the share of body procedures increased by 7%. The industry philosophy is undergoing a transformation, evolving from refined “weight loss” to body “sculpting.” With the orderly development of the industry, the provision of more refined body contouring services, and improved market education, the scale of China’s body contouring market continues to expand. According to Deloitte’s white paper, China’s body contouring market may exceed RMB 100 billion by 2030.
The potential of the medical aesthetics market is being further unlocked, giving rise to a new body contouring economy. From the demand side, the penetration rate of body-focused medical aesthetic procedures remains low, yet the growth potential is substantial. In the future, in-depth exploration of the existing market can stimulate demand for body contouring among medical aesthetics consumers.
Chengdu Zhisu Medical Management Co., Ltd. (hereinafter referred to as “Yizhi”)As early as 2018, we recognized this trend and chose to focus on body contouring, a vertical niche that had been overlooked by the industry yet offered substantial growth potential.Develop solutions centered on fat management, with body and facial contouring as entry points, to deliver superior medical services through technological innovation in healthcare.
It is reported that the company secured millions in angel investment from So-Young just six months after its establishment. It rapidly refined its business model and launched its first specialized aesthetic medical clinic focused on fat management in October 2018. Data shows that Yizhi’s first specialized fat-management aesthetic clinic achieved profitability within three months of opening and reached full customer capacity within six months.
In September 2019, the company secured tens of millions of yuan in Series A financing, led by Changling Capital and participated by So-Young. Following this funding round, its first flagship store was established, covering an area of 5,000 square meters and becoming the largest fat management center in Asia.
Yizhi Flagship Store
“The upstream medical aesthetics market is undergoing transformation. In the past, upstream manufacturers primarily focused on producing skin rejuvenation products such as botulinum toxin and hyaluronic acid fillers; however, they have now begun to strategically position their portfolios around the fat management sector. Innovative solutions, including cryolipolysis, thermal lipolysis, and ultrasonic lipolysis, are emerging frequently. Leading companies are expanding their footprint in the fat-related segment of the medical aesthetics industry by initiating acquisition strategies. For instance, Allergan acquired Kythera, a developer and manufacturer of fat-treatment pharmaceuticals, for $2.1 billion, and Zeltiq, a company specializing in cryolipolysis treatments, for $2.48 billion. The body contouring market is entering its golden age, and Yizhi aims to establish a strong presence and achieve sustainable growth within this specialized niche.”Xu Meibang, founder of Yizhi, told VCBeat.
Upstream technological innovations will, to some extent, stimulate consumer demand for high-quality downstream services; however, China currently lacks specialized brands in the body contouring segment, with most medical aesthetic institutions being comprehensive facilities (encompassing cosmetic surgery, cosmetic dermatology, and minimally invasive procedures).. As noted in the white paper published by Deloitte, the penetration rate in the mature U.S. market was 2.8 procedures per 1,000 people in 2019. In China, the penetration rate of the body contouring market is low, at only 0.8 procedures per 1,000 people, indicating substantial room for market growth.
Benchmarking against the domestic hair transplant sector and mature market cases, China’s fat-management vertical presents opportunities for professional supply-side transformation. Yizhi aims to build its product strength and scalability within the fat contouring niche, while breaking through the traditional profitability constraints associated with scaling medical services.
Yizhi has mastered two core liposuction technologies.
First, the MILS® Minimally Invasive Liposuction.This procedure utilizes "local anesthesia + MAC sedation," offering minimal pain, minimal trauma, reduced bleeding, and less bruising and swelling. The short operative time allows for discharge within 2–3 hours postoperatively, with compression garment wear required for only 2–3 weeks.
Second, Yizhi Susu Xi® Microneedle Liposuction.This is a painless procedure that can be completed within one hour under local anesthesia. As the physician operates using microneedles, there is no postoperative bruising or swelling, and suture removal is unnecessary. Patients can resume normal activities immediately after the procedure and are not required to wear compression garments.
Comparison Chart: Yizhi Liposuction vs. Traditional Liposuction
Image source: Yizhi
The development of two core liposuction technologies is based on Yizhi’s insights into the market.
In Xu Meibang’s view, past failures of traditional liposuction have had a certain impact on the market. Naturally, efficacy, safety, pain levels, comfort, and price have become key criteria for consumers when selecting body contouring services. Therefore, companies must meticulously manage every detail of the procedural workflow—including the extent of tissue trauma, anesthesia method and duration, and postoperative recovery period—achieving “minimally invasive, painless, and faster recovery” through technological iteration. This approach enables consumers to undergo body contouring with ease and satisfaction, thereby attracting a broader customer base.
Based on this core logic,YiZhi has chosen the fat-related niche within aesthetic surgery, establishing three core business pillars: liposuction, fat grafting, and anti-aging. It offers a comprehensive portfolio of fat-contouring products and solutions, including surgical contouring, injectable contouring, non-invasive contouring, and fat-related anti-aging treatments. Meanwhile, it has independently developed the easyERAS® (Enhanced Recovery After Surgery) core technology to optimize postoperative rapid discharge and recovery processes.
Among them, regarding fat grafting, the company has continuously optimized and iterated its surgical techniques to develop the Yizhi GRAFT® fat grafting procedure. By employing a multi-layered, three-dimensional micro-unit injection approach (easyGRAFT® autologous fat grafting) that combines concealed percutaneous needle insertion with intraoral access, the procedure achieves virtually no visible incisions on the external skin. Company data indicate that by establishing robust blood supply through micro-unit intramuscular injections, fat survival rates can reach 70–80%. Meanwhile, postoperative bruising and swelling are minimal, allowing patients to recover in just 4–7 days.
Yizhi Store
In the future, the company will continue to deepen its product portfolio in the field of fat contouring, leveraging its team’s R&D capabilities and product iteration expertise.
Through a “focus + deep cultivation” approach, Yizhi has been able to build its core competitive barriers and deliver higher-quality medical services. This achievement is clearly inseparable from the strength of its team.
Xu Meibang, the company’s founder, earned a Bachelor of Medicine in Clinical Medicine from Peking University Health Science Center and subsequently pursued a Ph.D. in Plastic Surgery at Tsinghua University–Peking Union Medical College. Upon graduation, he served as a craniofacial surgeon at the Plastic Surgery Hospital of the Chinese Academy of Medical Sciences. After leaving the hospital, Mr. Xu assumed the role of General Manager of Lancy Medical under Lancy Fashion Group. During his tenure, he oversaw the acquisitions of brands including Milan Baiyu, Jingfu, Gao Yisheng, and Korea Dream, and managed a chain of 18 medical aesthetic institutions.
After founding Yizhi, Xu Meibang assembled a core medical team comprising experts from Ba Da Chu and international physicians. The company continuously iterates its product technology, leveraging proprietary minimally invasive fat surgery techniques and protocols to shorten operative time and recovery periods while reducing patient pain.
During its development, the Yizhi team realizedStandardization and replicability are the keys to enabling the rapid chain expansion of future hospitals. Since the training period for qualified lead physicians can take as long as 5–10 years, enterprises must establish core talent training systems to shorten the time required for personnel development.
Yizhi has established its own comprehensive training system, “Yizhi School,” which ensures that its physician team receives cutting-edge fat grafting technology training through strict surgical SOPs and technical standards, regular expert guidance, and a holistic development approach.Meanwhile, as Yizhi has deeply cultivated the vertical niche of fat contouring, its surgical SKUs are highly streamlined, comprising only three major categories: MILS liposuction, Rapid Sculpt liposuction, and GRAFT filling. Non-surgical offerings include injectable contouring and non-invasive contouring, enabling each surgeon to focus on performing hundreds of fat-related procedures annually, thereby gaining extensive hands-on experience.
Leveraging this training system, Yizhi has nearly achieved the shortest physician development cycle in the medical aesthetics industry, rapidly cultivating multiple top-tier physician IPs and resolving challenges related to physician recruitment and training timelines.In terms of the management system, a vertical and remote management model of "headquarters-stores" has been established.
“Choice is particularly critical for startups, especially when starting from scratch. We chose the medical aesthetics sector—a golden niche with a highly advantageous economic model. First, it has moderate dependence on physicians and quantifiable outcomes. Second, the training of specialized physicians can be standardized. Third, liposuction equipment technology is mature, surgical consumables account for an extremely low proportion, and costs are low. Finally, there is a scarcity of professional products and services, offering exceptional cost-effectiveness and strong customer stickiness. Establishing differentiated brand advantages in the early stages is equivalent to securing a commanding position in the industry.”Xu Meibang said.
Today, Yizhi continues to enrich its product portfolio within the framework of fat contouring. By integrating "minimally invasive aesthetic medicine" with "fat contouring," the company is exploring blue-ocean opportunities in the medical aesthetics market. Having established capabilities in R&D, product standardization, and physician training systems, Yizhi has begun replicating its clinic model, opening a new location in Chongqing in September 2021.
Product strength and replicability are the two pillars of Yizhi.In the future, Yizhi will build on this foundation to capture the existing market by rapidly acquiring small outpatient clinics, leveraging “light medical aesthetics and fast-consumption” products as an entry point to drive conversion and incremental growth.