Question · Q3 2025
Qiuting Wang from CICC inquired about Trip.com Group's margin expansion outlook for the coming year (2026) and the longer term, given the rapid growth of its international business.
Answer
Senior IR Director Michelle Qi stated it was too early to provide specific 2026 margin commentary, emphasizing that margin is a natural outcome of a dynamic business mix and ongoing operating efficiency improvements. She expressed confidence that in the long run, there are no structural limitations to profit margins, suggesting they could be comparable to international peers, supported by innovative strategies, global expansion, and forward-looking investments.
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