??????????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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