BI-TRIP@EP2607A

Tuniu announces 2025 annual results with 76% net profit growth, facing antitrust investigation

Ctrip Announces Q4 and Full Year 2024 Financial Results

Ctrip's Q4 Revenue Exceeds Expectations at 1.543 Billion Yuan

Ctrip Reports 21% Q4 2025 Revenue Growth and Announces Board Changes

Hong Kong Stocks' Performance after Budget Announcement and Individual Stock Trends

Ctrip Under Investigation for Suspected Anti-monopoly Law Violations

Capital Group Reduced Holdings in Trip.com Group

Ctrip Group Predicts Earnings Per Share of 4.65 Yuan in 2025 Earnings Report

Citi Issues Positive Report on Trip.com and Tongcheng Tour

Ctrip.com Group Under Investigation For Possible Anti-monopoly Violations

Spring Festival Passenger Flow Growth, Citibank Maintains Buy Ratings for Ctrip and Tongcheng

TRIP.COM-S to Release FY2025 Q4 Earnings on February 26, 2026 Pre-Market (BJT), Forecast Revenue HKD 16.82 B, EPS HKD 4.5628

Financial Regulatory Bureau et al. Urge Six Travel Platforms to Standardize Lending Practices

Ctrip and Gaode Taxi Investigated and Interviewed by Regulators

Capital Group Reduces Position in Ctrip by HKD 1.494 Billion

Citibank Maintains Buy Rating on Ctrip and Tongcheng, Sees Limited AI Impact on Tourism in the Near Term

Ctrip Predicts Significant Increase in Travel Bookings During the 2026 Spring Festival

Ctrip Aims to Expand Influence in Asia-Pacific

BOA Securities Forecasts Q4 Earnings for Ctrip and Adjusts Target Price

Analysts Raise Trip.com Group's Target Price to $90

FULUM GP HLDG

KEEN OCEAN

SUMMI

XL2CSOPCOIN-U

XL2CSOPCOIN

REGAL PARTNERS

HK ENT INTL

HUIXIN CREDIT

SYNAGISTICS

MICROWARE

09961

TCOM

HTGD

TCOM 4Q25 First Take: Results were solid, with both strengths and weaknesses. The highlight is revenue growth beating prior guidance across the board, with a clear acceleration. A minor weakness is expenses ramped meaningfully, especially marketing, pushing GAAP OP below expectations. Given limited disclosure in the release and the market's focus on recent regulatory issues and potential impact, please refer to the upcoming Trans for more detail. Quarter details: Key points below. 1) Total revenue rose nearly 21% YoY, a clear step-up from 15% last quarter and well ahead of guidance and Street. By biz. line, growth picked up across segments. Outperformance came mainly from package tours and Ads &amp; Other, two smaller lines that surprised on the upside. 2) Alongside strong topline, total opex growth accelerated to 23% YoY despite a tough base, outpacing revenue. The main driver was marketing spend, up 30%+.With JD and Fliggy stepping up, while unlikely to dent TCOM's share, they likely raised traffic acquisition pressure, resulting in GAAP OP coming in ~4% below expectations. More detail will be in the upcoming Trans.

JETS

FLYU

AWAY

Trip.com Group Ltd. reported strong fourth-quarter and full-year 2025 results, with international bookings up 60% year-over-year and 20 million inbound travelers. The company emphasizes the importance of travel for economic growth and is focusing on globalization, quality, and sustainability through investments in inbound tourism and AI innovation. Analysts rate the stock as a Buy with a target price of HK$551.00. Trip.com operates as a global online travel agency, facilitating accommodation, transportation, and corporate travel management.

Tip Ranks

Us Global Jets

Trip.com

MicroSectors™ Travel 3X Leveraged ETNs

TRIP.COM-S

ETFMG Travel Tech ETF

Trip.com Group Posts Strong 2025 on Surging International and Inbound Travel

BEDZ

Net operating revenue for the fourth quarter was 15.4 billion yuan, a year-on-year increase of 21%; net profit was 4.3 billion yuan, a year-on-year increase of 95%

36Kr

Invesco Leisure & ENT ETF

AdvisorShares Hotel ETF

Trip.com Group releases Q4 2025 financial report

05:29 PM EST, 02/25/2026 (MT Newswires) -- Trip.com Group ( TCOM ) reported Q4 non-GAAP net income late Wednesday of 4.97 Chinese renminbi ($0.72) per diluted share, up from 4.35 Chinese renminbi a year earlier.Analysts polled by FactSet expected 4.75 Chinese renminbi.Revenue for the three months ended Dec. 31 rose to 15.4 billion Chinese renminbi from 12.8 billion Chinese renminbi a year earlier.Analysts surveyed by FactSet expected $14.86 billion in Chinese renminbi. MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

fidelity

Trip.com Group Q4 Non-GAAP Earnings, Revenue Rise

In the fourth quarter, Trip.com reported revenue of RMB 15.43 billion, while analysts expected RMB 14.89 billion

Wallstreetcn

SPDR S&P Transp

iShares US Transportation ETF

ChinaAMC CSI All Share Transportation ETF

Guotai CSI Mainland transport theme ETF

MMYT

Trip.com Group Limited reported its unaudited financial results for Q4 and full year 2025, showing a 21% increase in Q4 net revenue to RMB15.4 billion and a 17% increase for the full year to RMB62.4 billion. The company experienced solid growth in international bookings, with a 60% year-over-year increase. Key revenue segments included accommodation reservations (RMB6.3 billion), transportation ticketing (RMB5.4 billion), and corporate travel (RMB808 million). The company emphasizes its commitment to sustainable growth and collaboration with local partners.

StockTitan

MakeMyTrip

Trip.com Group Limited Reports Unaudited Fourth Quarter and Full Year of 2025 Financial Results | MMYT Stock News

00780

Citigroup's research report indicates that during the Lunar New Year holiday, domestic tourism in China performed robustly, with the number of tourists reaching 596 million and industry revenue reaching 803 billion RMB, representing an approximate growth of 19% compared to last year. The average daily number of tourists and revenue both increased, and the number of cross-border tourists also rose. Citigroup maintains a "Buy" rating on Trip.com and TONGCHENGTRAVEL, with target prices of $82 and HKD 28, respectively

AASTOCKS

TONGCHENGTRAVEL

Citi: Domestic tourism performance during the Lunar New Year holiday is stable, continues to recommend buying Trip.com and TONGCHENGTRAVEL

K3RD

Rosen Law Firm is investigating potential securities claims for shareholders of Trip.com Group Limited (NASDAQ: TCOM) due to allegations of misleading business information. Investors who purchased Trip.com securities may be eligible for compensation through a class action lawsuit. The investigation follows a significant stock drop after news of an antitrust probe by Chinese regulators. Interested investors can contact the firm for more information on joining the class action.

prnewswire

TRIP ADR US+

20:17 ETTCOM Investor News: Rosen Law Firm Encourages Trip.com Group Limited Investors to Inquire About Securities Class Action Investigation - TCOM

Trip.com Group is under investigation by China's market regulator for potential antitrust violations, leading to shareholder lawsuits. This scrutiny may impact the company's governance and risk profile, despite a strong demand for digital travel in Asia. The company plans to announce a US$0.30 per share dividend and a US$400 million buyback, indicating financial flexibility. However, the antitrust probe introduces regulatory risks that investors should consider. Fair value estimates for the stock range from US$86.91 to US$124.36, reflecting differing market perspectives amid the ongoing legal challenges.

Simplywall

How Antitrust Probe And Shareholder Lawsuits At Trip.com Group (TCOM) Have Changed Its Investment Story

Citi maintains a "Buy" rating for Trip.com and TONGCHENGTRAVEL, expecting domestic demand to improve during the Spring Festival holiday. According to data from the Ministry of Transport, the inter-regional flow of people from February 15 to 21 reached 2.08 billion, a year-on-year increase of 9.3%. Passenger volumes for railways, civil aviation, highways, and waterways increased by 9.9%, 7.8%, 9.2%, and 29.5%, respectively. Citi believes that the concentrated demand for returning home before the long holiday and the rebound in passenger volume indicate a positive trend in domestic travel demand. The target price for Trip.com in the US stock market is $82, while the target price for TONGCHENGTRAVEL is HKD 28

Citigroup maintains "Buy" rating on Trip.com and TONGCHENGTRAVEL, expects domestic demand to improve in the new spring

BABX

KBAB

The Hang Seng Index has recently pulled back, currently at H$26,413, reflecting trends in global indices. This week, key stocks to watch include Trip.com, which is set to release its financial results after a significant drop in stock price, falling 33% from its peak this year and becoming the worst performer on the index. Other notable companies include Alibaba, Baidu, and HSBC.

Invezz

BABA 2x Long Daily ETF - GraniteShares

KraneShares 2x Long BABA Daily ETF

BIDU-SW

BABA-W

Alibaba

Baidu

Top Hang Seng Index stocks to watch this week: Alibaba, Baidu, Trip, HSBC

00100

02513

09992

On February 20th, after the Hong Kong stock market opened, the stock prices of the large model companies KNOWLEDGE ATLAS and MINIMAX both surged significantly, reaching new highs since their listing. As of the time of publication, KNOWLEDGE ATLAS's stock price rose by 36% to HKD 691, while MINIMAX's stock price increased by 12% to HKD 957. Both large model companies have surpassed a market capitalization of HKD 300 billion, overtaking the market values of TRIP.COM, Kuaishou, and JD.com, and approaching the market capitalizations of POP MART (HKD 327.3 billion) and Baidu (HKD 350 billion). (First Financial)

MINIMAX-WP

KNOWLEDGE ATLAS

POP MART

KUAISHOU-W

KNOWLEDGE ATLAS and MINIMAX's market capitalization surpasses HKD 300 billion, exceeding Kuaishou and TRIP.COM

Trip.com HK SDR 50to1

Loadedmind

Current rate of return reached top 50% of users
Calculated based on  your Longbridge (Singapore) A/C

Rate Of Return

Taking the chance to accumulate a good counter on weakness. Looking to scale in further.$Trip.com HK SDR 50to1(HTGD.SG)

Tripadvisor

Expensive counter to trade. Wait for it to drop more 😁

2026 Resolution-Trade like professional . Do not FOMO. Keep more cash.

Fattycat

BABA Diamond Holder

BABA Return Rate

$Trip.com(TCOM.US) $TRIP.COM-S(09961.HK) Here's what happened: Trip.com is under investigation by China's State Administration for Market Regulation over potential monopoly practices. The company has stated that it will cooperate fully with regulators, comply with all requirements, and maintain normal business operations. In terms of market share, the Trip.com Group (including Qunar) holds close to 70% of the GMV in China’s online travel market, with its main platform alone accounting for 56%. Competitors such as Tongcheng, Meituan, Fliggy, and Douyin hold market shares of 15%, 13%, 8%, and 3%, respectively. It is important to note that while holding a dominant market position is not illegal, abusing such a position violates antitrust regulations. Industry-wide scrutiny is intensifying: tourism and homestay associations in regions like Yunnan and Huangshan have launched anti-monopoly initiatives, and authorities have summoned multiple online travel platforms—including Trip.com—for discussions. Market sentiment may remain cautious as the situation evolves. However, the most significant regulatory risks appear to have been largely factored into current valuations.

BABA-WR

Alibaba HK SDR 5to1

Today’s Key News Recap

0114 | Dolphin Research Focus: 🐬 Macro/Industry 1) The China Chamber of Commerce to the EU said talks on the EU's anti-subsidy probe into Chinese EVs have made solid progress, with the EU set to replace countervailing duties with price undertakings. Eligible Chinese auto exporters can apply for assessment to obtain tariff exemptions, and the framework follows WTO rules and the non-discrimination principle, giving exporters clearer visibility for shipments to Europe. This helps defuse the China‑EU auto trade dispute, benefits major exporters such as BYD and SAIC, and supports value‑chain and supply‑chain stability.2) With CSRC approval, the Shanghai, Shenzhen and Beijing exchanges issued a notice to adjust the margin requirement for margin financing. The notice adjusts the margin requirement ratio...

Science Applications

BOYD Gaming

BYD COMPANY

BYD Company Limited

BYD Company

BYD COMPANY-R

Alphabet - C

Alphabet

NVIDIA

Taiwan Semiconductor

SAIC Motor

Roblox

BYD HK SDR 10to1

US 'easing' on H200 chips hits a wall; TCOM tumbles late on antitrust probe | Daily News Recap

1118 | Dolphin Research Focus: 🐬 Macro 1. Today, both Hong Kong and A-shares collectively declined as the market's expectation for a December rate cut by the Federal Reserve continued to decrease. According to CME's &#34;FedWatch&#34;, the probability of a 25 basis point rate cut by the Federal Reserve in December has dropped to 42.9%, previously exceeding 70%. Federal Reserve Governor Waller also stated that if the job market rebounds, the necessity for an insurance rate cut will diminish. Additionally, the sell-off pressure on tech stocks and the Japanese bond market faced a sell-off wave due to concerns that the Kishida government will implement a large-scale fiscal expansion plan. Under multiple factors, global markets collectively declined...

Luckin Coffee

Direxion Daily Googl Bear 1x Shares

Direxion Daily GOOGL Bull 2X Shares

XIAOMI-W

BOSS ZHIPIN-W

XPENG-W

LEAPMOTOR

XIAOMI-WR

Xiaomi Corporation

Kanzhun

KUAISHOU-WR

XPeng

BIDU-SWR

Xiaomi HK SDR 2to1

Baidu HK SDR 10to1

Global Markets Hit by 'Cold Wave'; Google AI Advances in Travel Services Track | Today's Important News Recap

Ctrip

Conference Minutes

The following are the minutes of the FY25Q3 earnings call for $Trip.com(TCOM.US) organized by Dolphin Research. For an interpretation of the earnings report, please refer to &#34;Trip.com: Awaiting the Release of Overseas Profits.&#34; I. Review of Core Financial Information II. Detailed Content of the Earnings Call 2.1 Key Information from Executive Statements 1. Strong Market Demand: The global tourism industry is booming, with travel enthusiasm surging. Travel demand is skyrocketing, primarily driven by the robust vitality of domestic tourism in China and the steady recovery of outbound travel. Travelers are actively exploring new destinations, seeking authentic and in-depth cultural experiences...

Direxion Auspice Broad COM

Planet Labs

Reliance

Ameriprise Financial

Cambria Tail Risk

ING Groep

Expedia

Rise Oil & Gas, Inc.

Ctrip (Minutes): Marketing expenses will continue to rise in the peak season of 4Q

Financial Analysis

After the US stock market closed on November 18, $Trip.com(TCOM.US) announced its financial results for the third quarter of fiscal year 2025. The performance remained stable, with both revenue and profit slightly better than expected. Specifically: 1. Overall performance remained stable: In general, Trip.com Group's net revenue for this quarter was approximately RMB 18.3 billion (excluding business tax), representing a year-on-year increase of 15.4%. The growth rate slightly slowed down compared to the previous quarter but was still slightly higher than the market expectation of 14.5%, indicating stable growth. In terms of profit, the adjusted operating profit, after adding back stock-based compensation, was RMB 6.2 billion, a year-on-year increase of 13%, slightly higher than the company's guidance of RMB 5.8-5.9 billion...

JD-SW

JD.com

JD-SWR

YieldMax BABA Option Income Strategy ETF

JD HK SDR 10to1

Ctrip: Awaiting the Release of Overseas Profits

Trip.com 3Q25 Quick Interpretation: Overall, Trip.com's performance this quarter remains generally stable and better than market expectations. In terms of trends, growth remains steady, but due to relatively high expenses, profit growth still slightly lags behind revenue growth. Specifically: 1. Growth: Total revenue increased by 15.4% year-on-year to 18.34 billion, with a slight deceleration quarter-on-quarter, but still slightly better than expected. In detail, the hotel business, which accounts for the largest proportion, saw a quarter-on-quarter slowdown of about 3 percentage points, partially offset by a slight acceleration in the ticketing business. More meaningful sub-segment growth details need to be observed in the conference call discussions. 2. Gross Profit: Mainly due to the higher proportion of overseas business, which has a lower gross margin, the overall gross margin this quarter still contracted by about 0.7 percentage points year-on-year, resulting in a 14.5% year-on-year increase in gross profit, slightly lower than the revenue growth rate, but still better than Bloomberg's consensus expectations. 3. Expenses and Profit: Similarly, mainly due to the investment in overseas business, expenses this quarter also maintained relatively high growth (+16.7% yoy), exceeding the growth rates of revenue and gross profit. The main driver was a nearly 24% increase in marketing expenses. As a result, with a slight narrowing of the gross margin and expansion of expenses, adjusted operating profit grew by 13% year-on-year this quarter, still in a period of profit margin contraction. However, the trend shows that the extent of profit margin contraction has narrowed compared to the previous two quarters and is better than the company's previous guidance. $Trip.com(TCOM.US) $TRIP.COM-S(09961.HK)

The following are the minutes of the FY25 Q2 earnings call for $Trip.com(TCOM.US). For an interpretation of the earnings report, please refer to &#34;Unafraid of JD.com's Entry, Ctrip Remains a Top Performer.&#34; 1. Review of Key Financial Information: Capital Expenditure: The company is committed to continuous investment in innovation, particularly in technology fields such as artificial intelligence (AI), and provides digital tools and marketing support for small and medium-sized enterprises. A $100 million tourism innovation fund has been launched to support business innovation. Sales and marketing expenses have increased, primarily to support international business expansion plans...

Trip (Minutes): Announced a $5 billion open-ended buyback plan

On August 28th, after the U.S. stock market closed, $Trip.com(TCOM.US) released its financial report for the second quarter of fiscal year 2025. This quarter again demonstrated a solid and stable performance, with revenue maintaining a stable high growth rate, slightly exceeding expectations, and profit performance being even more impressive. Specifically: 1. In terms of large numbers, Trip.com Group achieved a net revenue of 14.8 billion yuan (excluding business tax) this quarter, representing a year-on-year increase of 16%. The quarter-on-quarter growth rate did not slow down compared to the previous quarter and was slightly above market expectations. In terms of profit, the adjusted operating profit, after adding back stock-based compensation, was 4.67 billion yuan, a year-on-year increase of 10.4%...

Unfazed by JD.com's entry to disrupt the market, Trip.com remains an excellent performer.

BI-TRIP@EP2607A(25022.HK)

Trip.com Group Posts Strong 2025 on Surging International and Inbound Travel

Trip.com Group releases Q4 2025 financial report

Trip.com Group Q4 Non-GAAP Earnings, Revenue Rise

In the fourth quarter, Trip.com reported revenue of RMB 15.43 billion, while analysts expected RMB 14.89 billion