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