??????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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