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