??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???,?????