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

�??�??????????,???!????�??�???????

??: ????

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

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