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