EL7.AI
StocksMediumUpdated•Originally published 13 September 2026•Updated 13 September 2026•
2 min read

5.179 Billion Yuan Antitrust Penalty Looms Over Trip.com’s Second-Quarter Results

Key Facts

1The fine was 3.521 billion yuan and confiscated gains were 1.658 billion yuan, totaling 5.179 billion yuan.
2Trip.com was ordered to refund 122 million yuan of hotel order security deposits.
3In the first quarter of 2026, net revenue rose 17% to 16.2 billion yuan, international gross bookings grew by about 65%, and inbound travel bookings increased by about 90%.
4The company forecast second-quarter net-revenue growth of 3% to 8% and will report results on September 15, 2026.
5TRPCF closed at 39.55 dollars on September 9, 2026.

China’s State Administration for Market Regulation imposed a fine of 3.521 billion yuan on Trip.com on July 25, 2026, and confiscated 1.658 billion yuan in illegal gains, bringing the two items to 5.179 billion yuan. Attention is turning to the decision’s impact before second-quarter results are released on September 15, 2026.

The regulator said Trip.com had abused its dominant position in China’s online hotel-booking platform market since 2020. The practices included exclusive arrangements with some hotels, lowest-online-price requirements and tools that directly lowered prices; the company was also ordered to refund 122 million yuan of order security deposits deducted from hotel operators.

Trip.com told investors that it accepted the decision and would implement its corrective requirements. The regulator ordered the company to cease the unlawful conduct and said it would supervise the rectification process and publication of the measures taken, making operational compliance a central part of the case’s next phase.

The company enters the results announcement with strong international performance from the first quarter of 2026: net revenue rose 17% year over year to 16.2 billion yuan, gross bookings on its international platform increased by about 65%, and inbound travel bookings grew by about 90%. These figures describe operating performance before the penalty’s effect is included in the quarterly results.

On June 24, 2026, Trip.com forecast second-quarter net-revenue growth of 3% to 8% year over year, compared with 17% growth in the first quarter. The company said the slowdown would weigh on margins and bottom-line results, so the range should be treated as previously issued guidance rather than a reported result.

TRPCF closed at 39.55 dollars on September 9, 2026, according to EL7’s internal market data. When results are released after the U.S. market close on September 15, 2026, separating the exceptional penalty cost from underlying booking and revenue trends will be central to assessing the company’s performance.