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    Keating Wang

    Vice President and Equity Research Analyst at China International Capital Corporation

    Keating Wang is a Vice President and Equity Research Analyst at China International Capital Corporation, specializing in the coverage of telecommunications, media, and technology companies in China. He is responsible for detailed equity research and stock recommendations on major firms such as China Mobile, China Telecom, and China Unicom, and is known for delivering insightful market analysis and maintaining a strong performance track record. Keating’s career began at CICC in the mid-2010s after earning advanced credentials in finance, and he has since developed a deep expertise in sector trends and valuation. He holds professional credentials, including recognized Chinese securities licenses, and has been commended for analytical excellence by institutional clients.

    Keating Wang's questions to Trip.com Group (TCOM) leadership

    Keating Wang's questions to Trip.com Group (TCOM) leadership • Q2 2025

    Question

    Keating Wang from CICC requested an update on the company's previous share buyback program and more details on the newly announced US$5 billion capital return program.

    Answer

    CEO Jane Sun confirmed that the company had fully utilized its authorized quota for the year, repurchasing around 7 million ADRs for a capital yield of about 1.5%. She explained that the new US$5 billion program is a multi-year initiative funded by recent deal proceeds and cash, with the objective of at least mitigating ESOP dilution and potentially reducing the overall share count.

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