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