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

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

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

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

??????????,???????????????????????2024???????�????????????????????�?????????�??�,??????????????????,???,???????????????????????

????????????????,????????????200??�?????�???????????????????????,???????????,???????

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