Trip.com Group Q2 Revenue RMB 15.7B, Antitrust Fine Drives RMB 2.4B Net Loss

Key points

• Q2 2026 net revenue was RMB 15.7 billion, up 6% year on year and down 3% quarter on quarter.
• International platform revenue grew over 50% year on year, and inbound travel revenue rose at a high double-digit rate.
• Accommodation reservation revenue was RMB 6.6 billion, up 6% year on year, partly offset by revenue reduction from the SAMR antitrust penalty.
• Transportation ticketing revenue was RMB 5.4 billion, down 1% year on year and 12% quarter on quarter, hit by high energy prices and geopolitical volatility.
• Corporate travel management revenue was RMB 771 million, up 11% year on year and 12% quarter on quarter.
• General and administrative expenses were RMB 6.3 billion, up 477% year on year, mainly due to the RMB 5.2 billion SAMR antitrust penalty.
• Net loss was RMB 2.4 billion versus net income of RMB 4.9 billion a year earlier; excluding the penalty, net income was RMB 2.7 billion.
• As of June 30, 2026, cash and cash equivalents, restricted cash, short-term investments, and held-to-maturity time deposits and wealth management products totaled RMB 100.5 billion.