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2026-07-30 16:16:59 Citi published a report stating that Trip.com Group Limited (TCOM.US) may announce its results for 2Q26 around the end of August, with revenue and adjusted operating profit expected to be broadly in line with market expectations. Following the conclusion of the national investigation, Trip.com Group Limited (TCOM.US) is launching a new traffic allocation and commission mechanism, but migration to the new system and hotel operators becoming familiar with the mechanism may take time, resulting in short-term impact after the removal of special and gold-tier hotels. During the summer holiday period, domestic and outbound travel demand remained soft due to adverse weather and oil prices, which may weigh on expected performance in 3Q26. The broker lowered its earnings forecasts for 2026/2027/2028 by 6%/5%/3% to reflect weaker-than-expected travel demand and hotel guarantee margin returns, while cutting the TP from USD64 to USD62. Although earnings in 2H26 are expected to face short-term pressure, monetization capability should recover in the medium term through new traffic allocation mechanisms such as advertising. The Buy rating was maintained. (ha/a)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |