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