�??�??,???!????�??????????�???????-????-(??)

�??�??,???!????�??????????�???????

??: ????

??????(?? ???????????????????? ????? ????)???????????,????????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????

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