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