????:1???????????:?????

2??????????

3????????

4?????WX

5????????

?????????????????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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