???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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