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