Citi Anticipates TRIP.COM-S 4Q25 Results to Align with Expectations, Lowers US Stock Price Target to $82 Due to Survey Effects
Citi Research Forecast: Citi Research anticipates TRIP.COM-S's 4Q25 revenue and adjusted operating profit to align with market expectations, with potential market share expansion and benefits from a rebound in average daily rates in the domestic hotel sector.
Earnings Adjustments: The broker has reduced its adjusted earnings forecasts for 2026 and 2027 by 9% and 5%, respectively, and lowered the target price for Trip.com Group's US stock from $86 to $82 due to anticipated impacts on the domestic hotel business.
Antitrust Investigation Impact: UBS predicts that Trip.com’s share price will remain range-bound in the near term as the market has already factored in the effects of the ongoing antitrust investigation.
Investment Outlook: Despite the challenges, Citi Research maintains a Buy rating on TRIP.COM-S, citing its industry-leading position and the expectation of clearer visibility on fundamentals once the investigation concludes.
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TRIP.COM-S Establishes Special Task Force to Address Middle East Situation and Launches Comprehensive Safety Measures
Market Performance: TRIP.COM-S (09961.HK) experienced a decline of 1.945%, with short selling amounting to $100.13 million and a ratio of 15.321%.
Task Force Formation: The company has established a task force to address potential changes in travel itineraries due to recent developments in Iran and the Middle East, ensuring they stay updated on the situation.
Booking Protection Initiative: TRIP.COM-S has launched a comprehensive protection plan for hotel bookings made before February 28, covering multiple Middle Eastern countries for travel dates from February 28 to March 5.
Collaboration with Merchants: The platform is working with merchants to mitigate cancellation losses for users who need to cancel their bookings due to the evolving situation in the region.
Midday Update: HSI Rises 197 Points to 26,578; HSTI Gains 53 Points to 5,162; SHK PPT Surges Over 6%; SHK PPT, CK ASSET, TECHTRONIC IND, and CATHAY PAC AIR Reach New Peaks
Market Performance: The HSI rose by 197 points (0.7%) to 26,578, while the HSTI and HSCEI also saw gains, closing at 5,162 and 8,849 respectively.
Active Heavyweights: Notable stocks included Tencent (+2.8%), Meituan (+2.1%), and Alibaba (+1.0%), with significant short selling activity reported for each.
Constituents on the Move: SHK PPT surged by 6.8% to a new high, along with Wuxi Bio (+4.2%) and Trip.com (+3.2%), indicating strong performance among certain constituents.
Short Selling Data: Various stocks experienced high short selling ratios, with CCB and Xiaomi showing declines, while Cathay Pacific also hit a new high with a 2.1% increase.
TRIP.COM-S Reports 2025 NP of RMB 33.294 Billion, a 95% Increase
- Stock Performance: TRIP.COM-S (09961.HK) experienced a decline of 2.272%, with a drop of 9.400 in its stock price.
- Short Selling Activity: The company reported short selling of $151.96 million, with a short selling ratio of 6.710%.
- Financial Results: For the year ending December 31, 2025, TRIP.COM-S announced a revenue of RMB62.51 billion.
- Year-over-Year Growth: The revenue reflects a year-over-year increase of 17.1%.
Citi Reports Strong Domestic Tourism During Lunar New Year Holiday; Maintains Buy Ratings for TRIP.COM and TONGCHENGTRAVEL
Lunar New Year Travel Statistics: During the nine-day Lunar New Year holiday, domestic travel traffic and industry revenue in mainland China reached 596 million and RMB803 billion, respectively, both up approximately 19% from the previous year.
Daily Growth Rates: The daily average travel traffic and industry revenue grew by 5.7% and 5.5% year-over-year, indicating strong performance in the tourism sector.
Citi Research Insights: Citi Research noted that the robust tourism performance reflects healthy momentum in both domestic and outbound tourism markets, which benefits online travel platforms.
Market Impact on Trip.com: Despite positive tourism trends, the share price of Trip.com may be influenced by an ongoing investigation by the State Administration for Market Regulation, leading Citi to maintain a Buy rating on Trip.com and Tongcheng Travel.
Citi Maintains Buy Rating on TRIP.COM-S/TONGCHENGTRAVEL, Anticipates Robust Domestic Demand for Lunar New Year
Passenger Flow Increase: During the first seven days of the Lunar New Year holiday, China's cross-regional passenger flow reached 2.08 billion, a 9.3% year-on-year increase, indicating a rebound in domestic travel demand.
Travel Demand Trends: The surge in passenger volume was attributed to family reunions before the holiday, with a balanced demand for both long and short-haul travel benefiting online travel agencies.
Citi's Ratings: Citi maintained a Buy rating for Trip.com Group and Tongcheng Travel, with target prices set at USD82 and HKD28 respectively, reflecting confidence in their market performance.
Upcoming Earnings Report: Trip.com is expected to announce its fourth-quarter results soon, with analysts predicting that the stock price may remain stable until the announcement.
CN NAFR Engages in Discussions with Six Travel Platforms, Including TRIP.COM-S and Amap, to Advocate for Standardized Marketing Practices
Regulatory Discussions: The National Administration of Financial Regulation (NAFR), along with SAMR and PBOC, held discussions with six travel platform companies regarding their lending operations with financial institutions.
Marketing Practices Standardization: Companies are required to standardize marketing practices, avoid misleading promotional language, and clearly disclose lending institution names and credit product information.
Responsible Borrowing Advisory: The platforms must advise borrowers on responsible borrowing and ensure accessible customer complaint channels for resolving disputes.
Consumer Rights Protection: The focus is on enhancing service quality and effectively safeguarding consumers' legitimate rights and interests.
TRIP.COM-S Establishes Special Task Force to Address Middle East Situation and Launches Comprehensive Safety Measures
Market Performance: TRIP.COM-S (09961.HK) experienced a decline of 1.945%, with short selling amounting to $100.13 million and a ratio of 15.321%.
Task Force Formation: The company has established a task force to address potential changes in travel itineraries due to recent developments in Iran and the Middle East, ensuring they stay updated on the situation.
Booking Protection Initiative: TRIP.COM-S has launched a comprehensive protection plan for hotel bookings made before February 28, covering multiple Middle Eastern countries for travel dates from February 28 to March 5.
Collaboration with Merchants: The platform is working with merchants to mitigate cancellation losses for users who need to cancel their bookings due to the evolving situation in the region.
Midday Update: HSI Rises 197 Points to 26,578; HSTI Gains 53 Points to 5,162; SHK PPT Surges Over 6%; SHK PPT, CK ASSET, TECHTRONIC IND, and CATHAY PAC AIR Reach New Peaks
Market Performance: The HSI rose by 197 points (0.7%) to 26,578, while the HSTI and HSCEI also saw gains, closing at 5,162 and 8,849 respectively.
Active Heavyweights: Notable stocks included Tencent (+2.8%), Meituan (+2.1%), and Alibaba (+1.0%), with significant short selling activity reported for each.
Constituents on the Move: SHK PPT surged by 6.8% to a new high, along with Wuxi Bio (+4.2%) and Trip.com (+3.2%), indicating strong performance among certain constituents.
Short Selling Data: Various stocks experienced high short selling ratios, with CCB and Xiaomi showing declines, while Cathay Pacific also hit a new high with a 2.1% increase.
TRIP.COM-S Reports 2025 NP of RMB 33.294 Billion, a 95% Increase
- Stock Performance: TRIP.COM-S (09961.HK) experienced a decline of 2.272%, with a drop of 9.400 in its stock price.
- Short Selling Activity: The company reported short selling of $151.96 million, with a short selling ratio of 6.710%.
- Financial Results: For the year ending December 31, 2025, TRIP.COM-S announced a revenue of RMB62.51 billion.
- Year-over-Year Growth: The revenue reflects a year-over-year increase of 17.1%.
Citi Reports Strong Domestic Tourism During Lunar New Year Holiday; Maintains Buy Ratings for TRIP.COM and TONGCHENGTRAVEL
Lunar New Year Travel Statistics: During the nine-day Lunar New Year holiday, domestic travel traffic and industry revenue in mainland China reached 596 million and RMB803 billion, respectively, both up approximately 19% from the previous year.
Daily Growth Rates: The daily average travel traffic and industry revenue grew by 5.7% and 5.5% year-over-year, indicating strong performance in the tourism sector.
Citi Research Insights: Citi Research noted that the robust tourism performance reflects healthy momentum in both domestic and outbound tourism markets, which benefits online travel platforms.
Market Impact on Trip.com: Despite positive tourism trends, the share price of Trip.com may be influenced by an ongoing investigation by the State Administration for Market Regulation, leading Citi to maintain a Buy rating on Trip.com and Tongcheng Travel.
Citi Maintains Buy Rating on TRIP.COM-S/TONGCHENGTRAVEL, Anticipates Robust Domestic Demand for Lunar New Year
Passenger Flow Increase: During the first seven days of the Lunar New Year holiday, China's cross-regional passenger flow reached 2.08 billion, a 9.3% year-on-year increase, indicating a rebound in domestic travel demand.
Travel Demand Trends: The surge in passenger volume was attributed to family reunions before the holiday, with a balanced demand for both long and short-haul travel benefiting online travel agencies.
Citi's Ratings: Citi maintained a Buy rating for Trip.com Group and Tongcheng Travel, with target prices set at USD82 and HKD28 respectively, reflecting confidence in their market performance.
Upcoming Earnings Report: Trip.com is expected to announce its fourth-quarter results soon, with analysts predicting that the stock price may remain stable until the announcement.
CN NAFR Engages in Discussions with Six Travel Platforms, Including TRIP.COM-S and Amap, to Advocate for Standardized Marketing Practices
Regulatory Discussions: The National Administration of Financial Regulation (NAFR), along with SAMR and PBOC, held discussions with six travel platform companies regarding their lending operations with financial institutions.
Marketing Practices Standardization: Companies are required to standardize marketing practices, avoid misleading promotional language, and clearly disclose lending institution names and credit product information.
Responsible Borrowing Advisory: The platforms must advise borrowers on responsible borrowing and ensure accessible customer complaint channels for resolving disputes.
Consumer Rights Protection: The focus is on enhancing service quality and effectively safeguarding consumers' legitimate rights and interests.
