??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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