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????????????2024?????2024??????,?????332??????????(??,?????????????????????),Non-GAAP???????30????????????????2024???????,???????????1084????????????????????,Non-GAAP??90??

???????????????????2024????????????????,???????????7.7???????????????,???????????????,?????2025???????4????11????????,???2.40?0.48??????????????????

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2024?????????GMV?????2093???????????,????

2024???????,??GMV(??????????????????????)??0.6%??2093??????,?????,?????????GMV???2%,????????GMV?????????????????75%,?????????????????????

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??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%?

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?????,?????????????????,????????????,??,????????????????????????????80?????,???2700??,?????????????????????58,000???

??????????2024???,?7.68?????????,????????????????,???????????????????,??????????????27.7??????????????????,??????????