?? ???2024?292.3????????:?? “????+?”????????
![](http://n.sinaimg.cn/news/transform/200/w600h400/20180725/YPxz-hfvkitw4113191.jpg)
????:1???gzs??:?????95?
2?????98?
3????????????
4???????????
5???????
2???????18????,????????????(NASDAQ:IQ)??2024????12??????????31???????????????????????????????292.3???,Non-GAAP(????)??23.6???????????????????,Non-GAAP??8%,?????????????????,??,????66.1????,Non-GAAP??????????????4.1??????,Non-GAAP????????????6%?
![](http://i2.chinanews.com.cn/simg/cmshd/2025/02/18/acc89345b5ef4bf297062c309cd94d70.jpg)
???????????????????????????????:“2024??????11??,??????,????,????????????????????????????????,?????????????,?????????????????,????2024???????????????”
“???????,???,???????,?,??????????????????”?????????,“???,?????????????????????”
?:“????????????2025???????,?????”
11?????,?,«???????»«??????»?????????????????????,?????????,???????????
“2024?,????????????????,??????????????????????2025?????”?????,????????????,????????????2025???
“????+??”?????????? ??????????????????????
????
???????????2024??????????????????,???????????????????????????????,?????????????????12????????
????,?????????,?????????????????«???????»????,??????????2024?????“????????????????”??????????????14??????????«??????»??,????????????????“????”????????????????????????,«???????????????????»??;«???????????»«??»????????,?????9500???????????9000?
![](http://i2.chinanews.com.cn/simg/cmshd/2025/02/18/482009732c21457f9ad1779a15b87034.jpg)
???????????????????????????????,???«?????»??«??????????????????:??????????»???????????????????????????«???»????????,?????????????«????»????????????«??????????????????2024»??????????????????,???????IP?????????????,?????????????????????,????????«??3D»?????????????,?IP«??????????»«????»?????
![](http://i2.chinanews.com.cn/simg/cmshd/2025/02/18/6916a091da724dc6ba13bd27b8597191.jpg)
?????????????,?,?????????????????????????????,???????????????????????????App??????????????,???????????,??????,????95%??,?????????????????2024??????????????????12?????????,???????????,??????????????????????,?????
![](http://i2.chinanews.com.cn/simg/cmshd/2025/02/18/e39328ff1f2b414ebfee3757754e98d6.jpg)
?????????????«??????»??????2024???????,???«???????????»????,?????,???????,2025???????
?????“????????+?????????????”?????,??????;????????????????????,?,??????????,??????????????????????
????????? ??“????+???????”?????????????????
2024??,???41.0?????11????,??????????,???????????????????????,?????????5???????????????????????,?????????????????????????????,??,????????,??????????????????????,????????????,?????????????????????????????,??????????,?VIP??
![](http://i2.chinanews.com.cn/simg/cmshd/2025/02/18/dc875e5c0bd041c994258118bccda8cc.jpg)
?????????????????,????????????????????????30%??,??????,????????????????????????50%?2025????????????,??????,?????????,2025????????????????????
![](http://i2.chinanews.com.cn/simg/cmshd/2025/02/18/4e630f88772e4d78998535206a52b1ad.jpg)
???????????????,??????????????14.3????????,?????????7%??????,???????,?????????,???,?“????”?????????????????40%,??30%??????????????????????????,???????????AI??,???????????????
??,?????,???????????????4.1??????????????????6.7??????????????????????????????,??????????????Non-GAAP???????????4.1??????????,??????10%?
??:“????????????????2025????,?????????????”
2025??????????????????? ????
?????????,2025?????????
??????????????,????????????????????????????????«??»«??»«?????????»??????????????????????????????,«??»?????IP???«????????????»«?????????????????»??????«????????»«???????????????»«???????»«???????????????»?????????“????????????????????”??????????????«????»«????»«???»«???»«?»«?????»????????????????????????????,?????????,???IP?????????1?????«????????»???????????????,????????8000,?????????????????????“????N?”????IP???,«????????????3»«??????5»«????????????2025»??????????«?????????????????????2»?????????,????????,????????????????«???»«?????????»«????»????«?3»???????????????????
????????????,?????????,AI????????5000??????????,?,??????????????,??,???“????”????,????;«??????»«?????»??????,?????????,?????????????????????IP?????????????????????VR??
![](http://i2.chinanews.com.cn/simg/cmshd/2025/02/18/1783df668bde4130aac33ebe0050a23e.jpg)
???,2025??????????????,????????????????????“????+??????”???????
????:?????????????????