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