???2024??GMV????????2093??,SVIP?16%

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

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????????2024??GMV????????2093??,SVIP?16%?????

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