??�????�

????:??????????:????

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

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