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