????:1?????:???????2021

2???????app

3????????

4?????????????

5??????????

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

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