????:1??????????:?????

2???????

3???ktv?????

4???????????

5????????????????

?????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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