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

�???????�??,??!????�???�??????????

??: ????

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

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