????:1???????:??????

2?????

3?????

4?2021??95?

5???????????

????2024???????????2024??,???????332???????????????????(???????????????,?),Non-GAAP????30?????2024???????????,??????1084??????????,Non-GAAP?????????????????????90????

??????????2024??????????,?????????????????????7.7???????????????????,??????????????????????????,????????????????????2025?????4????????????11??????????,??2.40?0.48???

????????????:“???????,???????????????,????????????????????????????????????????”

2024??????????????????GMV???2093???????????,?????????????

2024?????,??????????GMV(????????)???0.6%?2093?????,??????,????????????GMV?????????2%,???????????????GMV????75%,???

?????????,???????????????????????????2024????????“????????????”????????“?????”,???????????,?????,??????????????????????

??,????200?“????”???????????,??????????,???????

?,??????????

???2024????????????1500???????,??Acne Studios?Toteme????????????,???????????????????????OTB(ONLY THE BRAVE)??,?????????????????,????

?????????,2024??,???,???

2024???,??“????”????????????,??????,???????????????????????????????,??,???????

??,SVIP???????16%

??????VIP??(SVIP)??????V?????????????????????9.5??????????????????V???????,2024???????????????????,?SVIP??????,?????????????????????V????????,???????????SVIP???????

?????????????????,???2024???????????,SVIP??16%?????????????????880??,??49%?

??,?????????????

?????????,???????????????????,??????????????????????????????,???????????,??????80????,??2700???,????58,000??????

???2024????????????????????,??7.68?????,?????????????????????????????,????????,?????27.7??????????????,??????????

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