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

????????????:??????????????????

?????????

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

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