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