Trip.com Group, ordered by China's State Administration for Market Regulation to pay a 5.2 billion yuan fine for violating antitrust law, fell to a loss of 245.8 million yuan in its April-June 2026 quarter. Excluding one-off items such as the fine, non-GAAP operating profit and net profit fell 6.5 percent and 4.3 percent year on year, roughly in line with BOCI's expectations. SAMR and the Ministry of Culture and Tourism summoned major online travel companies including Trip.com Group on September 15, urging them to curb risks arising from exclusive partnership agreements and lowest-price guarantees, which BOCI called a strong signal that OTA companies will be forced to further improve business practices. The overseas platform Trip.com maintained gross merchandise volume growth of more than 50 percent year on year in the April-June quarter, but BOCI noted that short-term profit pressure may intensify in the second half. Assuming stable crude oil prices and cost savings from AI adoption, BOCI expects profit growth to recover in 2027 and also anticipates that the company's share buyback plan will continue, maintaining a bullish outlook on the stock.
Trip.com Group LtdChina's SAMR fined Trip.com 5.2 billion yuan for antitrust violations, driving the company to a quarterly loss.
