?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????,???