Trip.com (TCOM.US, 09961.HK) Q1 2026 Earnings Conference Call
Live time: Jun 25, 2026 00:00
Trip.com (TCOM.US, 09961.HK) Q1 2026 Earnings Conference Call
Live time: 06/25/2026 00:00:00
携程 (TCOM.US，09961.HK) 2026 年第一季度业绩电话会
Summary
01:21
Opening Remarks by Michelle Chi
Michelle Chi, Senior Director of Investor Relations, opens Trip.com's Q1 2026 earnings call, highlights future outlook and performance, and provides legal disclaimers on forward-looking statements under safe harbor provisions.
12:19
CEO James Sung Q1 Business Overview
CEO James Sung discusses Trip.com's strong momentum in early 2026 and goals to serve 200 million inbound travelers in five years. He highlights growth in inbound tourism with 7 million travelers served in Q1, strategic local partnerships, and the use of marketing initiatives to strengthen China's position as an appealing destination.
17:32
COO Jane Operational Highlights
COO Jane reports RMB 300 billion in Q1 gross bookings and total net revenue of RMB 16.2 billion, reflecting a 90% year-over-year increase in inbound tourism bookings, supported by Asia, Europe, and the U.S. markets.
31:32
CFO Cindy Wong Financial Results
CFO Cindy Wong presents RMB 16.2 billion net revenue in Q1 2026, an increase of 17% YoY. Adjusted EBITDA reached RMB 4.8 billion, and diluted non-GAAP earnings per share were RMB 5.73. She provides Q2 guidance of a 3% to 8% revenue YoY growth, while discussing potential impacts of rising energy prices and geopolitical tensions.
35:57
AI Strategy Insights — Analyst: Simon Cheng (Goldman Sachs)
CEO James Sung highlights Trip.com's AI strategy, emphasizing integration across user experience and efficiency via AI tools. He discusses efforts to embed travel planning and execution services into global AI ecosystems, supporting seamless bookings via automation.
39:16
Inbound Tourism Growth Plan — Analyst: Yang Liu (Morgan Stanley)
CEO James Sung outlines strategies to attract 200 million inbound travelers in five years. Key initiatives include leveraging visa advantages, international payment options, partnerships with KOLs, multilingual support, and collaborations with 110,000 suppliers, including a growing number of first-time partners.
42:47
Chinese OTA Competitive Landscape — Analyst: Thomas Chong (Jefferies)
Management describes the evolving competitive landscape in China's OTA market, focusing on user experience, supply coverage, and service quality amid rising compliance standards and AI-driven platforms.
45:38
Regulatory Review Insights — Analyst: Wei Hsu (Mizuho)
Management shares their cooperation with regulatory reviews and proactive adaptations to align with industry standards. They emphasize long-term benefits from enhanced compliance frameworks while maintaining dedication to traveler services and stakeholder value.
48:14
Train Ticket Regulation Updates — Analyst: Joyce Chu (Bank of America)
Trip.com supports new train ticket regulations, describing limited short-term revenue impacts and highlighting the importance of diversification across accommodation, international travel, and personalized services for long-term growth.
55:03
International Business Performance — Analyst: Brian Gung (Citi)
CEO James Sung reports 65% YoY growth in international OTA bookings, driven by strong performance in key APAC, Europe, and U.S. markets. He emphasizes enhanced user engagement, mobile bookings, localization, and AI-driven efficiency as keys to profitability and sustained growth.
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