??�??????�????

????:????????:??????

??(?? ?? ????? ?????????)?????????????????,???1???????????31???????????????13????????????15????????????????,2025??(?????)?????????????????60???????,????????

�?��????1900��??????????:???????????�??????2025???????????�????:???????��???��?????????????1900��????????��?????????��????:????�???????????

????,??????????????,???????????????????????????????IP,??,??

?????????????,????????????????,?????????????????????????????????�??????1900�????300???????????????????,??????1900????????????????????????�??�1:1???????????120???????11?????????????????16???�??�,?????�????????�?????�?:????�????,???????900???????????????????50???????????2000?????,???????????????????????

?????????6????,??????5????????????IMAX?CINITY?????????????????????,?????????????�????�??????????????????????????,?????�????�?????,???

?:????,IMAX??????????????????4540??,??�??:??�IMAX????????,????????????????????40%??????????????????1?29???????????????????????19?,??IMAX????7000?????,?3808??,?2.8%?4.1%,?????????

???????,??????,???????�?:?�?,????????????????????;�???????????�???????????,????????;�??????????????�??,????????????�??�???????,?????????????????????,??,????,???,?????

???????IP????????

???????????????????IP(Intellectual Property)?

???????????�??????????�???2015?,???????2018???2021?????????????????,???,?????????�?�????IP??????

2019????????????????�????�?????50.7????,??????????,???�????�?????,???

2023???????�????????�???,??????????25??????????????????,???????????�?:??�????????�?????�????,????

?????????????,????,?IP,???????????,???????????????????,??????007??????????????IP?

???????????????:?????,????IP??,????????????????????????,????????????????�????:??????????�?,????IP???

???????

2025??,????????

???????3300????,?1?????????????29??????(?????)????????2??????????????16?????????(???????????????????)??????????,???????,????????,????????????300??????????,??250????

??3800????,????????????,????????20?????????????????????2500??????????????,?????????????????4000???????????????????????,????????????????????????????,??????,???????????,????

???�??????????�??

??????????,2024????425.02?,?2024???(2??10???-2?????????????17??)??????80.16???????,???????????????????,????,???2022-2024???????????????????,2024????????,?????????????????????????,??,??2018?????10%?2024?????????????19%,????????????????,6??,???

??,???????????????,2025??????????????????????,????2025???????85.4?????????????,??6.7%,????????????????????,??????2025??????;???????,?????????84????,???????????????????????,?????????????????????????????????????????????????

???????????????,??????????????:

�??�???????,??!??�???????????�????????

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

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

???????�?�?�?????????????????�????????????????????,??,????�????????�???????,????????????,????????�??�???????50.35???????,??,?????????????????????????24??,25????,???????�??????�??????????;�??1900�?,??????,???????,?????????2025?,???,?????????????9????9.2??,????????????�???????????????�,????????????,??????????,????�??�???????,??????????2024????2026??49??????66.1??87.3??????,???????????,???????(???)+????????????????????????????????(???)+??(??????????)?????????????,???????,????,???,???????????????????

2025???????

1????????29??(???????????????)???????18.05?????????????????,????????3515??????????,????,?????????2021?????????????????????2024?????????????80.16??????,?????????,????????

?????????????????????:�?�????55?,�??1900�????�???????????????:???�????????36???15???????

�?????????????????????�????????????,???!???????�?????�??????????????????