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

�??�???,????!???????�??????????�??

??: ????

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

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