HSBC Global Research published a report stating that TRIP.COM-S (09961.HK) -11.400 (-2.280%) Short selling $223.64M; Ratio 14.317% (TCOM.US) saw a 16% YoY increment in revenue for 1Q25, in line, fueled by a strong 23% growth in hotel revenue. The adjusted OPM faded 2.4 ppts, but was better than expected.The group forecast revenue growth to return to normal, the report noted. In wake of increasing supply, the average daily room rate for domestic hotels was weak, affecting the group's hotel revenue growth, while air ticket prices stabilized. Related NewsCLSA Elevates Trip.com (TCOM.US) TP to USD75 on Surge in Inbound TourismThe broker reiterated its Buy rating for Trip.com US stocks, raising the target price from USD75 to USD78. It foresaw a 15% revenue growth this year, with an adjusted OPM hiking 11% and a margin of 29%. For 2Q, revenue was expected to grow 14.5%, with an adjusted OPM elevating 2%, maintaining a margin of 29%. The broker also believed that shareholder returns have further room for enhancement, as overseas business improves. (HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-05-21 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)