HuiBaiYan Medical Aesthetics Secures Nearly RMB 20 Million Series A Funding Led by Heling Capital to Expand Its Chain of Clinics Across the Yangtze River Delta

VCBeat (WeChat: vcbeat) has learned that on November 13, the light medical aesthetics brand Huibaiyan Medical Aesthetics (affiliated with Nanjing Huibaiyan Medical Aesthetics Outpatient Department Co., Ltd., hereinafter referred to as “Huibaiyan”) completed its first round of financing, amounting to nearly RMB 20 million. The lead investor was Heling Capital.

According to available information, Huibaiyan was established in May 2018. Its flagship store is located in the bustling Hexi Central Business District (CBD) in the main urban area of Nanjing, Jiangsu Province, adjacent to the Nanjing Olympic Sports Center. The facility covers a business area of approximately 3,000 square meters and houses departments including a Plastic Surgery Center, a Minimally Invasive Aesthetics Center, and a Skin Management Center. The company plans to establish no fewer than 20 chain medical aesthetic institutions in the Yangtze River Delta region within the next three years.

The medical aesthetics industry, valued at hundreds of billions of yuan, is one of the most market-mature segments within consumer healthcare. On one hand, after years of market education, consumers have become more accepting and loyal to medical aesthetic services, while also developing a more rational understanding. On the other hand, with capital investment flowing in, many institutions continue to expand through chain operations; however, refined operational management has become imperative.

Jason, founder of the brand Hui Baiyan, stated that after six months of operations, Hui Baiyan has basically reached break-even. Regarding the changes and challenges in China’s medical aesthetics market, he remarked, “The greatest opportunity lies in the fact that consumers are gradually returning to rationality following a period of unchecked growth. Customer acquisition for institutions can no longer be resolved simply through advertising bombardment; at this juncture, building reputation is particularly crucial. Brands should take a long-term view with clear direction. Returning to the fundamentals of medical practice represents the greatest opportunity and will secure a larger market share.”

Following the establishment and opening of its first hospital, Huibaiyan gradually adopted a parallel development model for Type A and Type B outlets. This strategy was designed to further innovate and validate its business model, rather than merely building a single profitable hospital. “Type A stores can be understood as central surgical centers, while Type B stores serve primarily as customer-acquisition institutions focused on skin management and minimally invasive procedures. This approach enables the rapid formation of intra-city chains, with intensive deployment within specific regions to generate brand premium.”

“To support our chain expansion, Huibaiyan Medical Aesthetics will accelerate the rollout of Type-B clinics following this round of financing, and increase investment in management system development and service system establishment. ‘The management system will underpin future chain expansion, while the service system is customer-centric, fully adopting the customer’s perspective to optimize every service detail—from pre-treatment reception and waiting periods to the patient’s experience during treatment—ensuring that service standardization and normalization are effectively implemented,’ said Jason.”

Public records indicate that prior to founding Huibaiyan Beauty, Jason served at Yurun Group and Suning Universal Group. Notably, he was appointed Director of the Board Assessment Committee at Yurun Group at the age of 25, and later held positions including Vice President of Suning Universal Group and Executive President of Suning Universal Capital. With extensive experience in management and capital operations, Jason, recognized by media outlets as a prominent young leader among listed companies, has delivered numerous outstanding achievements.

Regarding his decision to resign and start a business, Jason told VCBeat, “Although I am relatively young for an executive at a publicly listed company, I grew weary of a conventional life. I felt the need for a change in lifestyle, so I chose to resign and declined many new offers to embark on entrepreneurship. One of the directions I pursued is medical aesthetics, as the broad prospects of the medical aesthetics market are highly appealing to me. Since entrepreneurship requires boldness, I am committed to seeing this path through to the end.”

The lead investor in this round, Heling Capital, was established in September 2010. It is an asset management company primarily engaged in private equity/venture capital (PE/VC) investment, mergers and acquisitions, restructuring, and financial advisory services. To date, Heling Capital manages twelve RMB-denominated equity investment funds, with total assets under management exceeding RMB 10 billion.

To date, Heling Capital has cumulatively made over RMB 10 billion in external equity investments. Its portfolio spans multiple sectors, including large-scale agriculture, new energy, biopharmaceuticals, chemicals, energy conservation and environmental protection, and TMT. Among these, more than 20 portfolio companies have gone public on China’s main boards and in the United States.

Heling Capital stated that, as Huibaiyan is a very early-stage project, the investment was driven primarily by their confidence in founder Jason and his team, as well as their endorsement of the company’s business logic.

Amidst the multitude of medical aesthetic institutions, how does Huibaiyan create differentiation? Jason believes, “Huibaiyan’s philosophy is to establish a medical aesthetic institution that makes beauty seekers feel convenience, comfort, and trust. Although the current market for medical aesthetics is fiercely competitive, there are very few institutions in the market that ensure quality while also dedicating themselves to solving customer convenience and experience issues. We happen to have advantages in both medical care and service.”

According to available information, the Nanjing Olympic Sports Center Flagship Store of Huibaiyan Medical Aesthetics boasts a team of over 30 physicians. These physicians have participated in the research and development of numerous patented medical aesthetic technologies, served as chief editors for multiple academic monographs in the field of medical aesthetics, and possess extensive clinical experience along with a vast portfolio of personalized beauty customization cases.

Providing customers with superior physician resources, service experiences, safety assurances, and product quality is the core philosophy of Huibaiyan. The company has currently established in-depth partnerships with international health and aesthetic institutions such as the Japan Life Science Institute, South Korea’s BK Hospital, Grand Plastic Surgery, Wonjin Plastic Surgery, Banobagi Plastic Surgery, and Bewith Plastic Surgery. By leveraging complementary strengths across physicians, equipment, technology, and products, Huibaiyan has cultivated its unique competitive advantage.

“In addition to physicians, the management team is also a medical aesthetics institution’s most critical asset. Huibaiyan’s senior executives come from mid- and senior-level positions at Fortune 500 companies. ‘In an era of intense competition in the medical aesthetics red ocean, our team possesses sufficient agility and resource-integration capabilities; more importantly, we are free from path-dependency thinking. Huibaiyan is reluctant to engage in heavy advertising spending. Service will become our key competitive advantage in the future. High-end clients are particularly discerning about service quality, and service is a soft power that is difficult to replicate—precisely where our professionalism lies.’”

Reporters learned that the first flagship store currently targets a relatively high-end customer base, such as celebrities. “Once the central operating room is operational, we will cater to customers across broader consumer segments, leveraging word-of-mouth to build brand premium.”

Regarding future development, Jason stated, “I hope to successfully validate version 1.0 of the ‘A+B’ model in the Nanjing market within a year, and then rapidly replicate and expand it across China. The medical aesthetics industry offers a vast market. Huibaiyan strictly controls medical quality while simultaneously enhancing service quality. To date, we have not yet identified any competitors with entirely identical concepts and business models.”