0001193125-26-316761
SEC filingTrip.com Group received an administrative penalty from SAMR for anti-monopoly violations, including a RMB3,521 million fine and order to refund deposits.
On July 25, 2026, Trip.com Group Limited received an administrative penalty decision from the State Administration for Market Regulation (SAMR) of China. The decision followed an investigation under the Anti-Monopoly Law, finding violations of Article 22(4) and (5) for exclusive arrangements and unreasonable transaction terms due to dominant market position. The SAMR ordered the company to cease violating acts and refund RMB122 million (US$18.0 million) in hotel order security deposits deducted from operators. Additionally, the company must confiscate gains of RMB1,658 million (US$244.4 million) and pay a fine of RMB3,521 million (US$518.9 million), which is 7.5% of its 2025 China sales revenue. The total financial impact is approximately RMB5.3 billion. Trip.com accepted the decision and will implement rectification measures to strengthen governance. This significant antitrust penalty reflects increased regulatory scrutiny on dominant platforms in China and may affect investor sentiment.