??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??????,??