???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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??:???????????,??????????,??????????????