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

2????????

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

???????????????????????:??????