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