???????????????????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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??:???????????,??????????,??????????????