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