BaiFu Laser's Jia Yangchun: Globalization of Domestic Medical Devices Is Inevitable, Ushering in the 'Golden Age' of Aesthetic Lasers

The “globalization” of high-end medical equipment has been a hot topic of continuous discussion in the medical device industry in recent years. In this regard, different companies have offered different responses. Some adopt a “global division of labor” model, separating production from sales to leverage the resource advantages of different regions; others pursue an “independent R&D” model, independently developing key technologies and equipment to gradually establish differentiated competitive advantages.

Nanjing Baifu may be the ultimate synthesis of the aforementioned models, having carved out a replicable and instructive path for the domestic production of high-end equipment in the field of medical aesthetic lasers. Its initial business focus was on penetrating markets with less commonly spoken languages, after which it gradually increased its investment in the Chinese market. This has resulted in a development model that places equal emphasis on technology and marketing, while synchronizing domestic and international operations, thereby earning favor from both the market and investors.

Recently, the medical aesthetics laser sector has seen numerous hot topics. Seizing this opportunity, we spoke with Jia Yangchun, founder of Nanjing Baifu Laser Technology Co., Ltd., to discuss industry trends and reflect on the company’s entrepreneurial journey, with the aim of providing valuable insights for the industry’s development.

Jia Yangchun, Founder of Nanjing Baifu

Jia Yangchun, Founder and General Manager of Nanjing Baifu, studied abroad in Spain, and is proficient in Spanish, Portuguese, English, and other languages. Previously worked in sales at a well-known enterprise in the optoelectronics industry, with over 16 years of experience in selling medical aesthetic optoelectronic equipment.

In 2011, Jia Yangchun founded Zhengzhou Baishilaifu., assembled photon and CO2 laser export to the Spanish market. After a period of time, he discovered the market gap and technological disconnect in the mid-to-high-end domestic medical aesthetic lasers. Therefore, inShenzhen Leike Laser was established in 2017., actively recruiting top talent from the optoelectronics industry to initiate exploration into mid-to-high-end medical laser technologies. And inNanjing Baifu Laser was established in 2021, fully launching the breakthrough campaign for domestically produced mid-to-high-end medical lasers.

Since its inception, “Captain” Jia Yangchun and his “Nanjing Baifu” have carved out a development path distinctly different from that of other domestic medical laser companies—Expand overseas first, then return to the domestic market; a dual-drive strategy leveraging both international and Chinese markets.Leveraging the advantages and dividends of its differentiated positioning in non-English-speaking markets, Nanjing Baifu, shortly after its inception, has alreadyAchieving Autonomous Hematopoiesis, andAnnual Revenue Shows Steady Improvement。

In August 2021, Nanjing Baifu, having accumulated strength over time, achieved a breakthrough and obtainedAurora Venture Capital Pre-A Round: Tens of Millions of Yuancapital injection. Bolstered by capital support, Nanjing Baifu has entered a fast lane of development.

All of this is inextricably linked to Jia Yangchun, the helmsman of Nanjing Baifu. Born in 1979, this Zhengzhou native has followed a life trajectory similar to that of Jack Ma and Yu Minhong: he was admitted to a teachers’ college, worked as a high school chemistry teacher, and then gave up his secure “iron rice bowl” job out of passion for sales and pursuit of his dreams, embarking on a new chapter in his life.

Jia Yangchun once described himself as follows: “I consider myself an idealistic, action-oriented, and passionate young man. I possess sufficient patience, enthusiasm, and perseverance in pursuing the goals I firmly believe in.”

Here are excerpts from the exclusive interview. Enjoy:

VCBeat: Nanjing Baifu made a name for itself in the overseas market with its initial success. Why did you choose to target the Spanish-speaking market at that time?

Jia Yangchun:Choosing a market is akin to choosing a battlefield; it is not only the key to corporate success but also the foundation of survival. Many Chinese companies expanding overseas target English-speaking markets, resulting in intense competition due to market saturation.

Secondly, companies must identify their differentiated advantages and amplify them to the fullest. On one hand, I studied in Spain and worked in Spanish-speaking market sales for a well-known enterprise in the optoelectronics industry, giving me advantages in language, experience, and resources. On the other hand, through detailed market research before market entry, I found that this market closely resembles the domestic situation: it is sufficiently large, dominated by overseas giants in medical aesthetic lasers, characterized by high product prices, and it is common for a single device to remain in use for several years.

Most importantly, the Spanish-speaking market has not been deeply developed by any Chinese manufacturers, and a significant language information gap exists due to the limited English proficiency in Spanish-speaking countries. This vast, untapped market, combined with the substantial advantages of catering to a less commonly served language segment, has granted Nanjing Baifu Laser Technology Co., Ltd. a considerable first-mover advantage.

VCBeat:How Did Nanjing Baifu Enter the Spanish-Speaking Market?

Jia Yangchun:In the early stages, I spent at least four months each year abroad conducting market development. Initially, I rapidly reached a large volume of targeted potential clients primarily through Google searches for prospective medical aesthetics institutions, participation in local trade shows, and hosting promotional events.

Over ten of our products, including IPL devices, CO2 lasers, and semiconductor laser hair removal systems, have obtained CE and FDA certifications. Our products deliver performance comparable to that of the "Big Four" in medical aesthetic lasers, yet are priced at only a fraction of theirs. With diverse models and rich functionalities, they cater to customers’ multidimensional beauty needs, offering exceptional cost-effectiveness.

When the first batch of customers savored the “delicacy of crab meat,” they spread the word by mouth to friends who operated medical aesthetic clinics. As a result, our product volume ramped up quickly in the early stage. Whereas the cost of one machine previously could now buy six or seven units, leading to high user stickiness and repurchase rates. Therefore, Nanjing Baifu Laser Technology Co., Ltd. quickly established its reputation upon entering the local market in Nanjing.

What left the deepest impression on me was a small promotional event I held in Barcelona in 2012. During the final stage for collecting letters of intent, I was confident that our product would gain recognition, but I was unexpectedly met with a backpack full of euro cash deposits. Carrying a backpack stuffed with euro cash while visiting clients filled me with both delight and apprehension.

Jia Yangchun Attended the Valencia Exhibition in 2014

VCBeat: Did you encounter any difficulties during this period?

Jia Yangchun:“To be honest, I haven’t really encountered any difficulties. Over the years since starting my business, what I’m most proud of is achieving a sales record with no losses.”

At the outset of my entrepreneurial journey, coinciding with China’s accession to the WTO, I founded Zhengzhou Baishilaifu to assemble and export photon-based and CO2 laser systems. By aligning with the zeitgeist, we earned our first significant pot of gold. Later, recognizing a gap in the domestic market for high-end, Chinese-made medical aesthetic lasers, I established Shenzhen Leike Laser, actively recruiting top talent from the optoelectronics industry to dedicate ourselves to technological breakthroughs. The predecessor of Nanjing Baifu also took its basic shape during that period. Since many of our core technical personnel were from southern China and viewed Shenzhen as merely a stop in their careers before eventually returning to their hometowns, and given the company’s strategic shift toward R&D in high-end laser technologies, we subsequently established Nanjing Baifu.

Baifu focuses on the Spanish-speaking market. As previously mentioned, this market is substantial in size. Leveraging our advantage in less commonly taught languages and our cost-effective products, Baifu has entered the market with overwhelming strength. There is no need to worry about profitability; the company’s overseas revenue exceeded RMB 40 million last year and is projected to reach over RMB 60 million this year.

VCBeat: What differences do you see between the Spanish-speaking market and the Chinese market?

Jia Yangchun:People universally pursue beauty. Both domestically and internationally, consumer demands are highly concentrated in areas such as hair removal, skin rejuvenation, wrinkle reduction, and pigmentation spot removal. The key difference is that Chinese consumers place a greater emphasis on skin whitening. In terms of sales models, both markets predominantly adopt a combination of direct sales and agency distribution, with little significant difference. Regarding regulatory policies, domestic oversight in China is evidently stricter.

VCBeat: In recent years, the innovative capabilities of domestically produced medical lasers have risen. As a brand that expanded overseas and then returned to the Chinese market, how has Nanjing Baifu quickly adapted to the evolving pace of the domestic market?

Jia Yangchun:The overseas medical laser market is characterized by its large scale, maturity, established industry giants, and a relatively stable competitive landscape. Overall, competition is more intense than in the domestic market. As one of the first Chinese manufacturers of mid-to-high-end aesthetic medical lasers to expand globally, Baifu has overcome differences and pressures related to technology, culture, language, and other factors to achieve its current success, which fully demonstrates our comprehensive strength.

The current characteristics of China’s mid-to-high-end medical aesthetic laser market include high entry barriers, a late start for manufacturers, slow progress in overcoming technical hurdles, low market share, relatively few competitors, and the absence of dominant industry giants. For Baifu, which has already been validated in mature markets, expanding overseas and then re-entering the domestic market serves as a competitive advantage.

As a domestic brand, our production and R&D teams are based locally, making after-sales service more convenient. Compared with imported high-end products, we offer advantages in flexible customization and service.

VCBeat: Will the company shift its future market focus back to China?

Jia Yangchun:Currently, we are making every effort to advance the domestic registration of our products. At the same time, we will continue to expand into global markets. In this regard, we can look to Mindray Medical, a leading medical device company, whose overseas market volume exceeds its domestic one. We view the entire market through a global lens.

We will strengthen and consolidate our existing presence in the Spanish-speaking market, pursuing steady progress. Having entered the Arabic-speaking market at the end of last year, the company has already achieved notable success. Moving forward, we will continue to focus on select differentiated markets.

VCBeat: What have you been busy with recently?

Jia Yangchun:Recently, I have been primarily focused on three key areas: first, monitoring the regulatory approval status of our products both domestically and internationally, as well as tracking the progress of R&D projects; second, driving the sales team to achieve their performance targets; and third, engaging in weekly communications with multiple investors to discuss matters related to the next round of financing.

VCBeat: How do you manage three companies simultaneously? What do you consider the most critical factor?

Jia Yangchun:The Shenzhen team has largely completed its relocation, and my primary focus is now on the teams in Zhengzhou and Nanjing. As a manager, I concentrate on delivering results, monitoring key milestones in development progress, and managing talent.

There are now many remote work software solutions that enable efficient collaboration among teams, making geographical barriers no longer an issue. The recruitment of core talent and the establishment of incentive mechanisms are critically important. Core employees primarily focus on two key aspects: first, whether the company has ambitious visions, which determine the depth and height of its development; second, whether the company can share the dividends of its growth with employees. Other forms of humanistic care are merely complementary enhancements.

VCBeat: The past 11 years of your entrepreneurial journey have undoubtedly been both exhilarating and utterly exhausting, requiring you to blaze trails from scratch in many areas. Was there a specific moment when you felt you could no longer carry on?

Jia Yangchun:Over the past 11 years, excitement has outweighed fatigue, and joy has surpassed difficulties. This is because I have felt that every endeavor I undertook contributed to my continuous upward trajectory.

As for difficulties, every endeavor comes with its own set of challenges. For instance, when I first started in laser R&D, I was completely at a loss and had to learn some hard lessons along the way. But by tackling these difficulties step by step, they eventually get resolved. In truth, there were never moments when I felt unable to cope, as the company’s profitability has always been strong, with no financial crises or anything of that sort. Moreover, my wife has been consistently understanding and supportive; she even entrusted me with all our savings to fund the startup in the early days. Now, I find myself happy every day.

DongVCBeat: One last question. What message or advice would you like to share with professionals currently working in the industry?

Jia Yangchun:With the rise of domestically produced medical lasers, we are bound to approach and even surpass international leading standards in certain technical fields. I sincerely hope that our industry peers will focus on the future path of technological innovation, complement and support one another, grow together, and jointly welcome the golden age of domestically produced medical lasers.

Further Reading:"Nanjing Baifu: Benchmarking Against Global Giants to Become the Leader in High-End Domestic Medical Aesthetic Laser Equipment"