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

�??�????,???!??�??????????�???????

??: ????

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

�????????�???????,??????!?�?????�??