3Q24 唯品会总收入206.8 亿元，同比-9.2%，基本符合VA 一致预期的-9.4%，我们认为收入下滑主因服饰品类高基数和标品销量在消费情绪温和的影响下短期承压。3Q24 非GAAP 净利润13.1 亿元，对应非GAAP 净利率6.3%，同比下滑1.8pp，基本符合VA 一致预期的6.4%。维持“买入”评级。高基数与消费情绪温和导致短期收入承压，SVIP 会员用户量双位数增长3Q24 唯品会...
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