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

????:????????????:????

2025?2??????12??,??????????????(?“????”)???????,?????????????????????“01364.HK”,?????????????9.94???,??????10??????????????

??????????????????????

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

?:“???????????????2010???,??,?,?????,???????????????????????????????????????????????,??????????????????????????,???,????????,???????‘????????????’????,?????????????,????,???????,??”

???IPO?,????,???;??????????;??;???,???????,??;?????????

?????????????????????????????????(?????????????)

????????,???????????????2023??????????????????????(GMV)????????2023????????12????????????31??????????????????,????,??????????????????2023??????????????????,????GMV?????192??,??????????2022????37.2%??2024??9????30???????????????????,????GMV????????166??????,???????2023???????20.4%,???????2023???????12?????????31????????????????????,?9001???????,?????????????2022?????????????12???????????31?????????35.0%,?2024????9?????????????????30??????9778??

??

???,???????????????????:?????????????????????,???????????,?,???????2023?,???????????????????36??85000????,?????????,???????

???????,?????????????????????2024?9??????30?,???????????????120?????????,?40?????????????,??????????

???????????????2023?????????2024?9?????????????????30??,?130??85?????????????????????,????,??????

?,????,??:??,?;?????????????;????????????????????,?;???;??

????????:???