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????:95?98?????????:??????

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