?????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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??:???????????,??????????,??????????????