????:1????????????:???????

2?ktv?????????

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

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