<p>（第一财经）1 月 16 日——中国已对领先的在线旅游代理公司 Trip.Com Group 展开调查，因其涉嫌滥用市场主导地位，此前类似的调查也已对电子商务巨头阿里巴巴集团和按需服务提供商美团展开。</p>
<p>根据初步调查结果，Trip.Com 因涉嫌滥用其主导市场地位和垄断行为而被调查，国家市场监督管理总局于 1 月 14 日宣布。</p>
<p>对此，Trip.Com 表示已收到通知，将积极配合当局的调查，同时继续正常运营。</p>
<p>去年下半年，Trip.Com 多次被监管机构召见。8 月，贵州省市场监督管理局与这家总部位于上海的公司及其他四个平台进行了谈话，因其可能存在与所谓的 “二选一” 做法相关的问题，这可能干扰商家的定价，以及价格欺诈。</p>
<p>郑州市市场监督管理局还于 9 月对 Trip.Com 进行了行政约谈，涉及其 “价格调整助手” 功能，发出整改通知，并认定该平台使用技术手段对平台内经营者的交易定价施加不合理限制。</p>
<p>多家酒店经营者报告称，Trip.Com 的 “价格调整助手” 通过后台自动扫描竞争对手平台的价格，并强行降低房价，即使他们禁用该功能，它也会悄然重新激活。</p>
<p>此外，云南省旅游民宿行业协会上个月对在线旅游代理的不正当竞争展开了反垄断调查，指控 Trip.Com 实施二选一的垄断条款。</p>
<p>该协会收到大量投诉，表明 Trip.Com 利用其市场主导地位单方面提高佣金率，设定不公平的交易条件，并阻碍流量，这严重损害了经营者的权益。</p>
<p>这是市场监管总局自 2021 年 4 月对阿里巴巴实施 182 亿元人民币（26 亿美元）罚款以来，首次对市场主导地位滥用的重大调查，阿里巴巴因实施二选一做法被罚款，而美团在同年 10 月被罚款 34 亿元人民币（4.881 亿美元），占其 2020 年在中国销售额的 3%，后者还被要求退还 13 亿元人民币的独家合作保证金。</p>
<p>根据中国的反垄断法，滥用市场主导地位的经营者应被责令停止违法行为，没收其非法所得，并处以其前一年销售额 1% 至 10% 的罚款。</p>
<p>Trip.Com 是全球领先的旅游平台，其平台包括携程、去哪儿和 Skyscanner。它于 2003 年在纽约上市【NASDAQ: TCOM】, 2021 年在香港上市【HKG: 9961】, 昨天在前者交易所收盘时下跌 2.4%，每股 61.30 美元，而今天在后者交易所上涨 0.7%，收于 463.40 港元（59.41 美元）。</p>
<p>根据博通国际控股的分析，Trip.Com 在 2024 年酒店和旅游市场的总交易额可能达到 56%，显著超过同程旅行和美团，各自占有 13% 的市场份额。其业务覆盖超过 200 个国家的 120 万家酒店，以及 600 多个中国城市的 75 万个景点。</p>
<p>Trip.Com 去年的第三季度净利润几乎翻倍，达到 199 亿元人民币，得益于投资收益，而其收入增长 16%，达到 183 亿元人民币。其调整后的息税折旧摊销前利润为 63 亿元人民币，调整后的 EBITDA 利润率为 35%。</p>
<p>编辑：马丁·卡迪耶夫</p>

HTGD

携程集团-S

携程网

<p>中国已对携程集团展开反垄断调查，因其涉嫌市场主导地位滥用，此前阿里巴巴和美团也遭遇类似调查。国家市场监管总局（SAMR）指出了对垄断行为的担忧，包括不公平的定价策略。携程承诺将配合当局的调查，同时保持运营。这次调查标志着 SAMR 自对阿里巴巴和美团处以罚款以来的首次重大行动。作为领先的旅游平台，携程报告了净利润和收入的显著增长，预计在 2024 年酒店和旅游行业的市场份额将达到 56%</p>

<p>(Yicai) Jan. 16 -- China has launched an investigation into leading online travel agency company Trip.Com Group over alleged abuse of market dominance, with similar probes previously opened into e-commerce giant Alibaba Group Holding and on-demand services provider Meituan.</p>
<div class="lb-trans"><p>（第一财经）1 月 16 日——中国已对领先的在线旅游代理公司 Trip.Com Group 展开调查，因其涉嫌滥用市场主导地位，此前类似的调查也已对电子商务巨头阿里巴巴集团和按需服务提供商美团展开。</p>
</div><p>Based on preliminary findings, Trip.Com is being investigated due to suspected abuse of its dominant market position and monopolistic practices, the State Administration for Market Regulation announced on Jan. 14.</p>
<div class="lb-trans"><p>根据初步调查结果，Trip.Com 因涉嫌滥用其主导市场地位和垄断行为而被调查，国家市场监督管理总局于 1 月 14 日宣布。</p>
</div><p>In response, Trip.Com said that it has been notified and would actively cooperate with the authorities in the investigation, while continuing normal operations.</p>
<div class="lb-trans"><p>对此，Trip.Com 表示已收到通知，将积极配合当局的调查，同时继续正常运营。</p>
</div><p>Trip.Com was summoned multiple times by regulators in the second half of last year. In August, the Administration for Market Regulation of Guizhou province held talks with the Shanghai-based firm and four other platforms due to potential issues related to the so-called &#34;choose one from two&#34; practice, which can interfere with merchant pricing, as well as price fraud.</p>
<div class="lb-trans"><p>去年下半年，Trip.Com 多次被监管机构召见。8 月，贵州省市场监督管理局与这家总部位于上海的公司及其他四个平台进行了谈话，因其可能存在与所谓的 “二选一” 做法相关的问题，这可能干扰商家的定价，以及价格欺诈。</p>
</div><p>Zhengzhou's Administration for Market Regulation also conducted an administrative interview with Trip.Com regarding its &#34;Price Adjustment Assistant&#34; feature in September, issuing a corrective action notice and determining that the platform was using technical means to impose unreasonable restrictions on the transaction pricing of operators within the platform.</p>
<div class="lb-trans"><p>郑州市市场监督管理局还于 9 月对 Trip.Com 进行了行政约谈，涉及其 “价格调整助手” 功能，发出整改通知，并认定该平台使用技术手段对平台内经营者的交易定价施加不合理限制。</p>
</div><p>Multiple hotel operators have reported that Trip.Com's &#34;Price Adjustment Assistant&#34; automatically scans competitors' platform prices through the backend and forcibly lowers room rates, and even if they disable the feature, it quietly reactivates.</p>
<div class="lb-trans"><p>多家酒店经营者报告称，Trip.Com 的 “价格调整助手” 通过后台自动扫描竞争对手平台的价格，并强行降低房价，即使他们禁用该功能，它也会悄然重新激活。</p>
</div><p>In addition, the Yunnan Provincial Tourism Homestay Industry Association opened an antitrust probe into unfair competition by online travel agents last month, accusing Trip.Com of implementing choose one from two monopolistic clauses.</p>
<div class="lb-trans"><p>此外，云南省旅游民宿行业协会上个月对在线旅游代理的不正当竞争展开了反垄断调查，指控 Trip.Com 实施二选一的垄断条款。</p>
</div><p>The association received numerous complaints indicating that Trip.Com is using its market dominance to unilaterally raise commission rates, set unfair trading conditions, and block traffic, which severely harms the rights and interests of operators, it said.</p>
<div class="lb-trans"><p>该协会收到大量投诉，表明 Trip.Com 利用其市场主导地位单方面提高佣金率，设定不公平的交易条件，并阻碍流量，这严重损害了经营者的权益。</p>
</div><p>The latest is the SAMR's first major abuse of market dominance investigation since handing Alibaba a CNY18.2 billion (USD2.6 billion) fine for implementing the choose one from two practice in April 2021 and fining Meituan CNY3.4 billion (USD488.1 million), or 3 percent of its sales in China for 2020, in October that same year, with the latter also made to return an exclusive cooperation deposit of CNY1.3 billion.</p>
<div class="lb-trans"><p>这是市场监管总局自 2021 年 4 月对阿里巴巴实施 182 亿元人民币（26 亿美元）罚款以来，首次对市场主导地位滥用的重大调查，阿里巴巴因实施二选一做法被罚款，而美团在同年 10 月被罚款 34 亿元人民币（4.881 亿美元），占其 2020 年在中国销售额的 3%，后者还被要求退还 13 亿元人民币的独家合作保证金。</p>
</div><p>According to China's Anti-Monopoly Law, operators who abuse their market dominance shall be ordered to cease the illegal conduct, have their illicit gains confiscated, and be fined an amount ranging from 1 percent to 10 percent of their sales from the previous year.</p>
<div class="lb-trans"><p>根据中国的反垄断法，滥用市场主导地位的经营者应被责令停止违法行为，没收其非法所得，并处以其前一年销售额 1% 至 10% 的罚款。</p>
</div><p>Trip.Com is a leading global travel platform, with its platforms including Ctrip, Qunar, and Skyscanner. It went public in New York [NASDAQ: TCOM] in 2003 and in Hong Kong [HKG: 9961] in 2021, ending down 2.4 percent at USD61.30 a share on the former bourse yesterday, while rising 0.7 percent to close at HKD463.40 (USD59.41) on the latter today.</p>
<div class="lb-trans"><p>Trip.Com 是全球领先的旅游平台，其平台包括携程、去哪儿和 Skyscanner。它于 2003 年在纽约上市【NASDAQ: TCOM】, 2021 年在香港上市【HKG: 9961】, 昨天在前者交易所收盘时下跌 2.4%，每股 61.30 美元，而今天在后者交易所上涨 0.7%，收于 463.40 港元（59.41 美元）。</p>
</div><p>Trip.Com likely achieved a gross merchandise volume of 56 percent in the hotel and travel market in 2024, significantly surpassing Tongcheng Travel and Meituan, which each had a 13 percent share, according to BOCOM International Holdings. Its business covers 1.2 million hotels in more than 200 countries, as well as 750,000 spots in over 600 Chinese cities.</p>
<div class="lb-trans"><p>根据博通国际控股的分析，Trip.Com 在 2024 年酒店和旅游市场的总交易额可能达到 56%，显著超过同程旅行和美团，各自占有 13% 的市场份额。其业务覆盖超过 200 个国家的 120 万家酒店，以及 600 多个中国城市的 75 万个景点。</p>
</div><p>Trip.Com's net profit almost doubled to CNY19.9 billion in the third quarter of last year from a year earlier, boosted by investment income, while its revenue rose 16 percent to CNY18.3 billion. Its adjusted earnings before interest, taxes, depreciation, and amortization were CNY6.3 billion, with an adjusted EBITDA margin of 35 percent.</p>
<div class="lb-trans"><p>Trip.Com 去年的第三季度净利润几乎翻倍，达到 199 亿元人民币，得益于投资收益，而其收入增长 16%，达到 183 亿元人民币。其调整后的息税折旧摊销前利润为 63 亿元人民币，调整后的 EBITDA 利润率为 35%。</p>
</div><p>Editor: Martin Kadiev</p>
<div class="lb-trans"><p>编辑：马丁·卡迪耶夫</p>
</div>

中国对 Trip.com 展开反垄断调查