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