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??????
“??+?”??? ????
???
????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??????????????
????????,?????????«??????????????»«?????????????»«??»?????????????????,«????»??IP?????????????«???»«??»?«???????????????????»«????????????»«????»«??»??????????“???”?«????»«??»«??????????????????»«?»«????»«??????????????????»??????????????,??,?????IP???????????1??????«????????????»?????,??8000,???“????N?”?IP?????????????????,«???3»«??????????????5»«???2025»??????????????????????«??2»?????????,??????????,???«?????????»«??????????»«???????»??????«?????3»?????????????????????????????????????
????????????????,?????????????,AI????5000?????????,?????????????????????,?????????????????,???????,??“??????????????”????,??;«????»«???»???????????,???,?????????IP?????????VR?????????????????????
????????????????,2025????????,???????????????“??????????????+??????”?????
????????????:?????
??????????????:??????
??????2???????????:????
????:??????????????!
????:???????????????
????:??“??????”?????????
4?1?!??????????????????!
????“??”A???????????????
4?1?!??????????????????!
???????“????”?IPO????
????????!???????????
4?7?22?????????
??:“????”??????????
CBA?????????????????
Airbnb????????:???????
???????????????????(?)
2017????????????10?????
??gif-?????????????????
??????????????????????????
???:??????????????????
??gif-?????????????????
???????????300??????(?)
???????:????48???????
?????????????????????
??-????????????????????
??????:?????????????