??2024???GMV????????2093??,SVIP?16%

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