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