<p>（第一財經）1 月 16 日——中國已對領先的在線旅遊代理公司 Trip.Com Group 展開調查，因其涉嫌濫用市場主導地位，此前類似的調查也已對電子商務巨頭阿里巴巴集團和按需服務提供商美團展開。</p>
<p>根據初步調查結果，Trip.Com 因涉嫌濫用其主導市場地位和壟斷行為而被調查，國家市場監督管理總局於 1 月 14 日宣佈。</p>
<p>對此，Trip.Com 表示已收到通知，將積極配合當局的調查，同時繼續正常運營。</p>
<p>去年下半年，Trip.Com 多次被監管機構召見。8 月，貴州省市場監督管理局與這家總部位於上海的公司及其他四個平台進行了談話，因其可能存在與所謂的 “二選一” 做法相關的問題，這可能干擾商家的定價，以及價格欺詐。</p>
<p>鄭州市市場監督管理局還於 9 月對 Trip.Com 進行了行政約談，涉及其 “價格調整助手” 功能，發出整改通知，並認定該平台使用技術手段對平台內經營者的交易定價施加不合理限制。</p>
<p>多家酒店經營者報告稱，Trip.Com 的 “價格調整助手” 通過後台自動掃描競爭對手平台的價格，並強行降低房價，即使他們禁用該功能，它也會悄然重新激活。</p>
<p>此外，雲南省旅遊民宿行業協會上個月對在線旅遊代理的不正當競爭展開了反壟斷調查，指控 Trip.Com 實施二選一的壟斷條款。</p>
<p>該協會收到大量投訴，表明 Trip.Com 利用其市場主導地位單方面提高佣金率，設定不公平的交易條件，並阻礙流量，這嚴重損害了經營者的權益。</p>
<p>這是市場監管總局自 2021 年 4 月對阿里巴巴實施 182 億元人民幣（26 億美元）罰款以來，首次對市場主導地位濫用的重大調查，阿里巴巴因實施二選一做法被罰款，而美團在同年 10 月被罰款 34 億元人民幣（4.881 億美元），佔其 2020 年在中國銷售額的 3%，後者還被要求退還 13 億元人民幣的獨家合作保證金。</p>
<p>根據中國的反壟斷法，濫用市場主導地位的經營者應被責令停止違法行為，沒收其非法所得，並處以其前一年銷售額 1% 至 10% 的罰款。</p>
<p>Trip.Com 是全球領先的旅遊平台，其平台包括攜程、去哪兒和 Skyscanner。它於 2003 年在紐約上市【NASDAQ: TCOM】, 2021 年在香港上市【HKG: 9961】, 昨天在前者交易所收盤時下跌 2.4%，每股 61.30 美元，而今天在後者交易所上漲 0.7%，收於 463.40 港元（59.41 美元）。</p>
<p>根據博通國際控股的分析，Trip.Com 在 2024 年酒店和旅遊市場的總交易額可能達到 56%，顯著超過同程旅行和美團，各自佔有 13% 的市場份額。其業務覆蓋超過 200 個國家的 120 萬家酒店，以及 600 多箇中國城市的 75 萬個景點。</p>
<p>Trip.Com 去年的第三季度淨利潤幾乎翻倍，達到 199 億元人民幣，得益於投資收益，而其收入增長 16%，達到 183 億元人民幣。其調整後的息税折舊攤銷前利潤為 63 億元人民幣，調整後的 EBITDA 利潤率為 35%。</p>
<p>編輯：馬丁·卡迪耶夫</p>

HTGD

攜程集團-S

攜程網

<p>中國已對攜程集團展開反壟斷調查，因其涉嫌市場主導地位濫用，此前阿里巴巴和美團也遭遇類似調查。國家市場監管總局（SAMR）指出了對壟斷行為的擔憂，包括不公平的定價策略。攜程承諾將配合當局的調查，同時保持運營。這次調查標誌着 SAMR 自對阿里巴巴和美團處以罰款以來的首次重大行動。作為領先的旅遊平台，攜程報告了淨利潤和收入的顯著增長，預計在 2024 年酒店和旅遊行業的市場份額將達到 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>（第一財經）1 月 16 日——中國已對領先的在線旅遊代理公司 Trip.Com Group 展開調查，因其涉嫌濫用市場主導地位，此前類似的調查也已對電子商務巨頭阿里巴巴集團和按需服務提供商美團展開。</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>根據初步調查結果，Trip.Com 因涉嫌濫用其主導市場地位和壟斷行為而被調查，國家市場監督管理總局於 1 月 14 日宣佈。</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>對此，Trip.Com 表示已收到通知，將積極配合當局的調查，同時繼續正常運營。</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 多次被監管機構召見。8 月，貴州省市場監督管理局與這家總部位於上海的公司及其他四個平台進行了談話，因其可能存在與所謂的 “二選一” 做法相關的問題，這可能干擾商家的定價，以及價格欺詐。</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>鄭州市市場監督管理局還於 9 月對 Trip.Com 進行了行政約談，涉及其 “價格調整助手” 功能，發出整改通知，並認定該平台使用技術手段對平台內經營者的交易定價施加不合理限制。</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>多家酒店經營者報告稱，Trip.Com 的 “價格調整助手” 通過後台自動掃描競爭對手平台的價格，並強行降低房價，即使他們禁用該功能，它也會悄然重新激活。</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，雲南省旅遊民宿行業協會上個月對在線旅遊代理的不正當競爭展開了反壟斷調查，指控 Trip.Com 實施二選一的壟斷條款。</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>該協會收到大量投訴，表明 Trip.Com 利用其市場主導地位單方面提高佣金率，設定不公平的交易條件，並阻礙流量，這嚴重損害了經營者的權益。</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>這是市場監管總局自 2021 年 4 月對阿里巴巴實施 182 億元人民幣（26 億美元）罰款以來，首次對市場主導地位濫用的重大調查，阿里巴巴因實施二選一做法被罰款，而美團在同年 10 月被罰款 34 億元人民幣（4.881 億美元），佔其 2020 年在中國銷售額的 3%，後者還被要求退還 13 億元人民幣的獨家合作保證金。</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>根據中國的反壟斷法，濫用市場主導地位的經營者應被責令停止違法行為，沒收其非法所得，並處以其前一年銷售額 1% 至 10% 的罰款。</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 是全球領先的旅遊平台，其平台包括攜程、去哪兒和 Skyscanner。它於 2003 年在紐約上市【NASDAQ: TCOM】, 2021 年在香港上市【HKG: 9961】, 昨天在前者交易所收盤時下跌 2.4%，每股 61.30 美元，而今天在後者交易所上漲 0.7%，收於 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>根據博通國際控股的分析，Trip.Com 在 2024 年酒店和旅遊市場的總交易額可能達到 56%，顯著超過同程旅行和美團，各自佔有 13% 的市場份額。其業務覆蓋超過 200 個國家的 120 萬家酒店，以及 600 多箇中國城市的 75 萬個景點。</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 去年的第三季度淨利潤幾乎翻倍，達到 199 億元人民幣，得益於投資收益，而其收入增長 16%，達到 183 億元人民幣。其調整後的息税折舊攤銷前利潤為 63 億元人民幣，調整後的 EBITDA 利潤率為 35%。</p>
</div><p>Editor: Martin Kadiev</p>
<div class="lb-trans"><p>編輯：馬丁·卡迪耶夫</p>
</div>

中國對 Trip.com 展開反壟斷調查