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

????:??????qq:????qq?

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

??????????????????:????????