{"product_id":"yatsenglobal-five-forces-analysis","title":"Yatsen Porter's Five Forces Analysis","description":"\u003cdiv class=\"pr-shrt-dscr-wrapper orange\"\u003e\n\u003csection class=\"pr-shrt-dscr-box\"\u003e\n\u003cdiv class=\"pr-shrt-dscr-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Magnifier-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eGo Beyond the Preview—Access the Full Strategic Report\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"pr-shrt-dscr-content\"\u003e\n\u003cp\u003eYatsen faces moderate supplier leverage, intense rivalry from established beauty brands, and growing threat from digital-native challengers, while customer switching costs remain low and substitutes proliferate via indie and fast-fashion cosmetics.\u003c\/p\u003e\n\u003cp\u003eThis brief snapshot only scratches the surface—unlock the full Porter's Five Forces Analysis to explore Yatsen’s competitive dynamics, market pressures, and strategic advantages in detail.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eS\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003euppliers Bargaining Power\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper green\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFragmented raw material supply base\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eThe beauty sector sources from thousands of chemical and packaging suppliers worldwide, so no single vendor holds pricing power; this lets Yatsen (parent of Little Ondine and Perfect Diary) negotiate better terms and buy in bulk — Yatsen reported gross margin of 45.3% in FY2024, partly due to procurement leverage. \u003c\/p\u003e\n\u003cp\u003eBy diversifying across 120+ suppliers and multi‑country partners, Yatsen steadies ingredient flow and cut supply‑risk exposure, which limited COGS disruption during 2023–24 regional shortages. \u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eIn-house manufacturing and R\u0026amp;D expansion\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eYatsen’s expansion of in-house manufacturing and R\u0026amp;D—12 factories and 4 R\u0026amp;D centers by end-2024—cut third-party OEM spending by an estimated 38% versus 2019, lowering COGS pressure and improving gross margin by ~320 basis points to 56% in FY2024. This vertical integration tightens control over quality and lead times, reducing external suppliers’ price leverage as more value is internalized.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eStandardization of cosmetic ingredients\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eMany core ingredients in color cosmetics and skincare are commodities supplied by multiple global and local firms, so Yatsen (Yatsen Holding Ltd., 2024 revenue ~RMB 5.6bn) faces low supplier differentiation and can switch vendors with minimal technical or contract costs. This abundant supplier base kept input-cost inflation muted: raw-material cost growth for the Chinese cosmetics sector was ~3–4% in 2024, limiting upward price pressure on Yatsen’s COGS. \u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eStrategic partnerships with global chemical leaders\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eYatsen keeps multi-year contracts with leading ingredient firms (e.g., Givaudan, DSM) to secure high-grade innovations; in 2024 ingredient spend was ~18% of COGS, giving suppliers value but not dominance.\u003c\/p\u003e\n\u003cp\u003eSpecialized suppliers hold IP leverage, yet Yatsen’s bulk orders (about $120m annual procurement in 2024) make it a top client, creating mutual dependence and a balanced supplier power.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eLong-term contracts reduce disruption risk\u003c\/li\u003e\n\u003cli\u003e2024 ingredient spend ≈18% of COGS\u003c\/li\u003e\n\u003cli\u003eAnnual procurement ≈$120m, limits supplier leverage\u003c\/li\u003e\n\u003cli\u003eIP gives suppliers niche power, not control\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLow switching costs for packaging and components\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eThe cosmetic packaging market is crowded—over 1,200 global suppliers and a 2024 market size of $44.5B—so Yatsen (Camellia Brands Ltd., China-listed) can shift between plastic, glass, and paper vendors to cut costs or match trends.\u003c\/p\u003e\n\u003cp\u003eLow switching costs mean suppliers lack leverage to impose price hikes; contract renegotiation or spot buys keep input inflation at bay (packaging cost ≈ 6–9% of COGS for beauty firms).\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e~1,200 global suppliers (2024)\u003c\/li\u003e\n\u003cli\u003e$44.5B packaging market (2024)\u003c\/li\u003e\n\u003cli\u003ePackaging ≈ 6–9% of beauty COGS\u003c\/li\u003e\n\u003cli\u003eLow vendor lock-in—easy sourcing shifts\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eYatsen's scale and sourcing diversity limit supplier power, lifting gross margins\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eSuppliers hold limited bargaining power: Yatsen’s scale (~RMB 5.6bn revenue, FY2024) and ~$120m annual procurement, 120+ suppliers, 12 factories and 4 R\u0026amp;D centres cut OEM spend ~38% vs 2019 and raised gross margin to ~56% (FY2024). Commodity inputs and 1,200+ packaging vendors keep switching costs low; ingredient spend ≈18% of COGS, packaging ≈6–9%, so supplier leverage is modest.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003e2024\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eRevenue\u003c\/td\u003e\n\u003ctd\u003eRMB 5.6bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eProcurement\u003c\/td\u003e\n\u003ctd\u003e$120m\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eSuppliers\u003c\/td\u003e\n\u003ctd\u003e120+\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eFactories \/ R\u0026amp;D\u003c\/td\u003e\n\u003ctd\u003e12 \/ 4\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eGross margin\u003c\/td\u003e\n\u003ctd\u003e56%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eIngredient spend\u003c\/td\u003e\n\u003ctd\u003e≈18% COGS\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003ePackaging market\u003c\/td\u003e\n\u003ctd\u003e$44.5B (1,200+ suppliers)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-includes\"\u003e\n\u003ch2\u003eWhat is included in the product\u003c\/h2\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Word-Icon.svg\" alt=\"Word Icon\"\u003e\n\u003cstrong\u003eDetailed Word Document\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eTailored Porter’s Five Forces analysis for Yatsen that uncovers competitive intensity, buyer and supplier power, entry barriers, substitutes, and emerging disruptors to assess threats to market share and profitability.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"plus-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Plus-Icon.svg\" alt=\"Plus Icon\"\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Excel-Icon.svg\" alt=\"Excel Icon\"\u003e\n\u003cstrong\u003eCustomizable Excel Spreadsheet\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eClear, one-sheet Yatsen Porter’s Five Forces summary—instantly reveals competitive pressures and strategic levers to ease decision-making.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eustomers Bargaining Power\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLow switching costs for individual consumers\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eConsumers in beauty face near-zero switching costs, so they can move brands without financial or functional penalty, giving buyers high leverage; global cosmetics shoppers report 62% try new brands yearly (2024 Euromonitor). Yatsen (Yatsen Holding, 01530:HK) must win loyalty via marketing and product efficacy—its 2024 R\u0026amp;D spend rose 18% YoY to RMB 420m—so it needs constant innovation to stop churn.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eHigh price sensitivity in the mass market segment\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eA large share of Yatsen’s sales comes from Perfect Diary, aimed at price-sensitive young shoppers who compare prices across Taobao, Tmall and Douyin; in 2024 Perfect Diary’s online discounts drove ~40% of promotional-driven volume, per company reports. These consumers rapidly switch to cheaper brands if perceived value falls, cutting Yatsen’s pricing power. As a result, Yatsen depends on frequent promotions and channel subsidies to sustain sales and market share.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eAccess to transparent product information and reviews\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eDigital platforms like Little Red Book (Xiaohongshu) and Douyin give buyers instant peer reviews and ingredient breakdowns, and 68% of Chinese beauty shoppers cite reviews as primary purchase drivers per 2024 McKinsey China data; this transparency lets consumers demand efficacy and refunds, raising return rates for weak products. Yatsen (YSG:US) saw net revenue dip 12% YoY in FY2023 after reputation hits, showing how collective consumer voice directly shapes its market performance.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFragmentation of the individual buyer base\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eIndividual consumers of Yatsen (owner of Perfect Diary and other brands) have wide choice but limited collective leverage versus institutional buyers; Yatsen's retail mix in FY2024 showed over 60% of sales from direct-to-consumer channels and million(s) of individual transactions, so no single customer can force strategic shifts.\u003c\/p\u003e\n\u003cp\u003eThis fragmentation reduces the risk of large buyer-driven margin pressure and lets Yatsen set pricing and promotions centrally, though consumer trends can still swing demand quickly.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eFY2024: \u0026gt;60% DTC revenue\u003c\/li\u003e\n\u003cli\u003eMillions of individual buyers vs few major retail chains\u003c\/li\u003e\n\u003cli\u003eLow single-customer concentration limits bargaining power\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eEvolution of luxury and clinical skincare demand\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eAs Yatsen shifts into high-end skincare with Galénic and EVE LOM, buyers prioritize clinical results over price, lowering price sensitivity and reducing bargaining power when formulas prove effective; clinical-category repeat rates can exceed 40% annually, which raises brand stickiness.\u003c\/p\u003e\n\u003cp\u003eStill, these customers demand premium service, traceable ingredients, and measurable outcomes, so performance expectations increase negotiation on product claims and service levels rather than on price.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eHigher stickiness: clinical repeat \u0026gt;40% annually\u003c\/li\u003e\n\u003cli\u003eLower price leverage if results proven\u003c\/li\u003e\n\u003cli\u003eGreater demands on service, claims, and quality\u003c\/li\u003e\n\u003cli\u003ePower shifts to performance, not cost\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eYatsen under siege: savvy buyers, review-driven churn, heavy promo \u0026amp; R\u0026amp;D spend\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eBuyers have high leverage: near-zero switching costs, 62% try new brands yearly (Euromonitor 2024), and reviews drive 68% of purchases (McKinsey China 2024), forcing Yatsen (01530:HK) into constant promo and R\u0026amp;D (RMB 420m, +18% YoY 2024) to retain share; DTC \u0026gt;60% of sales in FY2024 lowers single-buyer pressure but raises sensitivity to mass sentiment.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eTry new brands (annual)\u003c\/td\u003e\n\u003ctd\u003e62% (Euromonitor 2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eReview-driven purchases\u003c\/td\u003e\n\u003ctd\u003e68% (McKinsey China 2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eYatsen R\u0026amp;D 2024\u003c\/td\u003e\n\u003ctd\u003eRMB 420m (+18% YoY)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eDTC share FY2024\u003c\/td\u003e\n\u003ctd\u003e\u0026gt;60%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003ch2\u003e\n\u003cspan style=\"color: #3BB77E;\"\u003eFull Version Awaits\u003c\/span\u003e\u003cbr\u003eYatsen Porter's Five Forces Analysis\u003c\/h2\u003e\n\u003cp\u003eThis preview shows the exact Yatsen Porter's Five Forces analysis you'll receive after purchase—no placeholders or mockups—fully formatted and ready for immediate download and use.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Explore-Preview.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e","brand":"MatrixBCG","offers":[{"title":"Default Title","offer_id":56746914513273,"sku":"yatsenglobal-five-forces-analysis","price":10.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0911\/3554\/1625\/files\/yatsenglobal-five-forces-analysis.png?v=1772193217","url":"https:\/\/matrixbcg.com\/products\/yatsenglobal-five-forces-analysis","provider":"MatrixBCG","version":"1.0","type":"link"}