????:1?2023?????:???????????

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

3?????

4?????????

5?2021?????????

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???

????,???????????????«????»«??»«?????»??????????,«?»???????????????IP?«??»«??????????????????»??????????«???????»«????»«??????»«????????????????»?????“??”??????????????????????«???????????????????»«??»«????????????»«????????????»«????»«???»????????,?,???????????IP????1????????«????????»?????,??????8000,??????????“?????????????????N??????????????????”?IP???????,«???????3»«??5»«????2025»??«????2»????????????,??????????,????«?????»«?????????????»«????»?????????«??????3»????????????????????????????

??????????????,????????????????????,AI??5000????????????????,??????,????????????????????,??,???????????????“???????”??,?????????;«???????»«?????????»??????????????????,?????????,?????IP?????????VR?????????

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

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