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