?????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??????,??
???????100??????????1500
?????????????????????
2017????????????“??”???
????????????????????
??????????:????????
?????????68?????????????
??:???3???1???1????????
??:?????????????
??????????????????5?
????????????????????
????:??5?????????????
???100?????????????0.01?
?????????????????????
???????????????
??:???????????????
?????????????????
??????????????????????
????????????54???
???????100??????????1500
??3?????????0.2%
A???“???”:????????????13??
CPI??????PPI?????
???????????????????????
???:?????????????????????
?????????????????????