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????:?????V:??????

??????2024????????2024????,?332???????????(??,??????????),Non-GAAP????????30????????2024?,??1084????????????,Non-GAAP??90?????????????

??????????????2024???,??????????????????7.7??????????,????????,???????????????2025??4???11?????,???2.40?????0.48???

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2024???????GMV??2093??,?

2024????,???????????????GMV(??????)??????0.6%???????????2093?????????,????????,???GMV???2%,??????????????GMV????????????75%,?????

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???????,?200?????�?????�?????,?,?????

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????????????????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%?

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???????????,???????,????,??,?????????????80?????,???2700????????,??58,000???????

????????????2024???????,?????????????7.68?????????,???????????????????????????????????????????????,????,??27.7??,??????