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