????:1???????????:?????????????

2??????????

3???400?????

4?????QQ?

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%?

?????:“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???,???????????“??????????????????????+??????”??????????????????

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