4%5.6-5.820241.5-1.74.6%GDPIMF19.811220254.5%3.94.520254.8%2025GDP4.7%20254.6%2025GDP4%GDP20254.0%IT190036.4%131726.8%114629.1%113532.0%109324.3%97645.6%84625.6%69628.4%60236.1%38634.5%•••••••注册量（万家）企业存量（万家）1,160.91,339.91,558.51,680.6980.0247.0322.5331.9413.9357.42020年2021年2022年2023年2024年2025202442.2%31.3%26.5%202546.8%••••••40%5%25%20%8%300-500mini——“5020030SKU/2-5••••••••+2024247517.6%2025100%300200%••••••/KOL1.920252202430%2030+••••••••••+;SKU•3600/202420254000/3%+•••GDP20%8%AIAIAI