???????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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