?????????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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