???

????2024?292.3????????:??? “?+????????”??

2025-02-19 12:20:17 27519

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%?

???????????:“2024????11????????????,?????????,??????????????,???????????????????????,?????????????????,????,????????????2024?????????????”

“?,???,???,???????,?????????????????”??,“???,??????????”

??:“???????????2025??????????,????????”

11???????,??????,«??????»«?????????????????»??????????????,?????????????????????,?????????

“2024????????????????????,?????,??????????????2025??????????”?????????????,??,?2025???????????

  “??????????+??????????????”??? ??????????????

????

?????????????2024?????,??????????????????????????????????????????????????,?????????????????12??

?,??,?????«??»???????,???2024??“??”????14???«????»???,??????????????????????“?????????????????”????????????,«????»??????????????????;«?»«????»????,??????????????9500?????????????????9000?

???????????????????????????????,??«?????»????????????«???????????????????:??????????????????»?????????????????????????«?????»????????????????????????????,?????????????????«???????»????«?2024»?????????????????????,????IP??????????????????????????,?????,????«??3D»????,???IP«???»«??????????»???????

?????????,??????????????????????,????????????????????????,????????????????????????????????App?????,????????????????????,???,???????????????????????????95%?????????,???2024??12??????,????????????????????????????????,????????????,???????

??????«????»????????2024?????,???«??»???????????????????????????,????????,?????????????????,2025???

????????????“?????????????????????????+???????”???????????,??????????????????????;??,????????,?????,?????????

????? ???“???????????????+????????”???????????????

2024????????????,??41.0??????????11??????????,???????,???????????,?????????5???????????????????????,??????????????????????,????,??????????????????,????,??????????,?????????????????????????????,????,????VIP?????

?????????????????,??????????????????????????????????30%????????????,?????????,??????????????????????????????????50%?2025????,?????????????????,??????????????????????,2025??????????????????????

?????????????????,??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???????????

????????????????????????,2025?,?????????????????????“?????????????+????”?????????????

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


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


??????

???????