Polycystic ovarian syndrome, aka: PCOS, is seen as a deficiency condition, mainly of the Kidney system, manifesting as an excess condition.
Kidney energies are responsible for reproduction, sexual development and fertility. The reason that a deficiency manifests as an excess is a common diagnosis in Chinese medicine.
One of the best ways I describe this phenomenon is likened to a car that is running low on engine oil that runs hot. In this case the excess condition is the growth of cysts.
When there is not enough energy to fill the meridians and to circulate qi and blood, stagnation occurs. Like a river that is running dry, pockets of stagnant water can accumulate.
This is not dissimilar to the phlegm dampness which manifests as multiple cysts on the ovaries.
Treatment of PCOS in Chinese medicine nearly always involves treating the underlying deficiency of the kidneys, while activating the blood and qi, and dissolving damp.
A combination of herbs and acupuncture is usually applied.