#Singapore #financial results #Trip.com Group #2025

Trip.com Group Limited Financial Results for 2025

Trip.com Group Limited, a top-tier global travel service provider, has released its unaudited financial results for the fourth quarter (Q4) and the entire year of 2025. This comprehensive report showcases significant growth across several operational metrics, indicating a robust recovery and extensive development in the travel market.

Key Highlights of 2025

In 2025, Trip.com Group experienced an impressive 60% year-over-year increase in bookings through its international online travel agency (OTA) platform, serving approximately 20 million inbound travelers. This growth underscores the resurgence in travel demand as global restrictions eased following the pandemic.

Management Insights

James Liang, the Executive Chairman of Trip.com Group, emphasized the importance of travel in fostering economic connections and community development. He stated, "Travel is more than an industry; it is essential economic infrastructure that enables connection, mobility, and shared growth." Liang is committed to enhancing inbound tourism, social responsibility initiatives, and leveraging AI technologies. He believes that these elements are crucial for building a sustainable future for the travel business.

CEO Jane Sun also highlighted the market's resilience, noting that inbound travel played a critical role in generating economic growth and creating job opportunities. With a focus on empowerment and collaboration with local partners, the company aims to stimulate demand and ensure long-term value in the travel ecosystem.

Financial Overview

Fourth Quarter Results

Trip.com Group's net revenue for Q4 2025 reached RMB 15.4 billion (approximately USD 2.2 billion), marking a 21% increase from the same quarter in 2024. However, this represented a 16% decline from the preceding quarter, attributed to seasonal fluctuations typical in the travel industry.

Accommodation Reservation Revenue:

• - Q4 2025: RMB 6.3 billion (USD 899 million)
• - Year-over-year increase of 21%.
• - Seasonal decrease of 22% from Q3 2025.

Transportation Ticketing Revenue:

• - Q4 2025: RMB 5.4 billion (USD 768 million), a 12% increase from Q4 2024, while showing a 15% seasonal decline.

Packaged-Tour Revenue:

• - Q4 2025: RMB 1.1 billion (USD 151 million), reflecting 21% growth compared to the previous year and a 34% decrease quarter-over-quarter.

Corporate Travel Revenue:

• - Q4 2025: RMB 808 million (USD 116 million), an increase of 15% from Q4 2024.

Full Year Results

For the entire year of 2025, net revenue stood at RMB 62.4 billion (USD 8.9 billion), a solid 17% increase compared to 2024.

• - The accommodation reservation segment accounted for 42% of the total revenue for 2025.
• - Similarly, transportation ticketing contributed 36% of the annual revenue, with the packaged-tour segment making up 7%.
• - The corporate travel segment represented approximately 5% of total revenue.

Cost Analysis

The cost of revenue for Q4 2025 increased by 23%, amounting to RMB 3.2 billion (USD 463 million), consistent with revenue trends. For the full year, the total cost of revenue rose 21% to RMB 12.1 billion (USD 1.7 billion).

Expense Observations

• - Product development expenses saw a 19% increase in Q4, totaling RMB 4.0 billion (USD 576 million).
• - Sales and marketing expenses grew by 30%, amounting to RMB 4.4 billion (USD 629 million).
• - General and administrative expenses showed a 16% increase, reaching RMB 1.2 billion (USD 171 million).

Income and Earnings

Net Income for Q4: RMB 4.3 billion (USD 613 million), a significant increase from RMB 2.2 billion in the same period the previous year.

• - Adjusted EBITDA for Q4 2025 was RMB 3.4 billion (USD 490 million).

For the full year, net income reached RMB 33.4 billion (USD 4.8 billion), a remarkable growth from RMB 17.2 billion in 2024.

Shareholder Information

The diluted earnings for shareholders per share were RMB 6.11 (USD 0.87) for Q4, and RMB 47.67 (USD 6.82) for the entire year.

Future Outlook

While the company navigates several industry challenges and opportunities, it remains focused on capitalizing on inbound travel and enhancing its product offerings to drive further growth. Trip.com Group's management is committed to transparency and will continue updating stakeholders as the market evolves.

Conclusion

In summary, Trip.com Group Limited's financial results for Q4 and the full year of 2025 showcase a robust recovery in the travel market, positioning the company for sustained growth in the years ahead. With a focus on collaboration, social responsibility, and innovative technology, Trip.com Group appears well-prepared to meet the dynamic demands of the travel sector.