?????????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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