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