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????:????90????????:??????????

???????????????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%,????????

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