???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???,????