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