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

???:?????

?????????

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

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