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