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

�??�???,???????!??�??????????�????

??: ????

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

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