Broker Name: China Galaxy International Securities
Date of Report: January 19, 2026
Excerpt from China Galaxy International Securities report.
Report Summary
- China’s State Administration for Market Regulation has launched an anti-monopoly investigation into Trip.com, focusing on suspected abuse of market dominance, including supplier restrictions, pricing practices, and forced bundle sales.
- The investigation is expected to last 4-6 months, with a potential penalty of 3-4% of FY25 revenue, and Trip.com’s hotel revenue growth forecast for FY26 has been revised downward. Despite near-term share price pressure, Trip.com is expected to maintain its leading market position due to its strong supplier and user base.
Above is an excerpt from a report by China Galaxy International Securities. Clients of China Galaxy International Securities can be the first to access the full report from the China Galaxy International Securities website: https://www.chinastock.com.hk
