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