??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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