????:1??????:??????

2????????????

3?????

4???????????

5??????

2?????????18????,???(NASDAQ:IQ)????????2024????12?????????????????????31???????????????292.3???????????????,Non-GAAP(?????????)???????????????23.6???????????,Non-GAAP?8%,?????????????????,??????????,???66.1???????????????,Non-GAAP???4.1???????,Non-GAAP????????????6%?

???????????????????:“2024??????????????????????11??????????,??????,????,????????????????????????????????????,?????????????????????????,???,???????????????2024??????”

“??,???????????,????,??????,??????????”???,“??,???????????”

?????????:“????????2025?????,?????”

11?????????????????????,????,«?????????????»«???»??????,??????????????,?????

“2024??,????,??2025???????????”???????,???????????,????????????2025??????????????????

  “??+?”???? ????

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????2024????,??????????????????????????????????????????????????????????????,??????12??????

?????????????????????????,????,???«?????»????,?2024???????????“???????”?14??«??????????????»??,????????“?????”??????????????????????????????,«??????»?????????????????;«??????????????????»«?????????»??,?????9500????????9000?

??????????????????????????????????????,???????????????????????????«??????????????????????»??«??:??????????»??????????????«????????»???????,??????«???»????«????2024»?,????????IP??????????,????,??????????«??????????????????3D»?,????IP«??????????????»«???????»?????????????????

??,????,????????????????????????????????????????????,????????????????????????????????????App?????,??????????????????????????????,?????,??????????????95%?,????????????????2024????????????????12??????????????,???????????????,?????,???????

?????«?????????????????????»????2024????????,??«?????????»??????????????,????,???????????????????,2025??????????

???“??+???”??????,????????????;??????????????????,????,?????????,??????????

??? ?????????“????????+?”????????????????????

2024?,????????????????41.0???????????11?????????????,?????????????????,????????????????,????????????????????????5???????????????????????????,?????????????????????????,??????,??????????,???????????,???,?????????,???,?VIP?????????

????????????????????????????????,?????????????????????????30%??????????,?????????????????,??????????50%?2025??????,??????????,?????????????????,2025????????

??????,?????????14.3???,????????????????7%????????????????????,????,???????????????,????,???“??????????????”????40%,?????????30%???,?????????????AI???,??????????

?,??????????????????????,??4.1????????????6.7?????????????????,??Non-GAAP??4.1????,????????????10%?

????:“??????????????????????????2025?????,?????????????????”

2025???? ??

?,2025????????

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????,2025??????,?????“?+????????????”???

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