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

�??�??,??????????!????�???????�???

??: ????

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

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