携程被立案调查 过去一年已被多次约谈

Core Viewpoint - The State Administration for Market Regulation has initiated an investigation into Ctrip Group for alleged monopolistic practices, while the company has stated it will cooperate with the investigation and maintain normal business operations [1]. Group 1: Regulatory Investigation - Ctrip Group is under investigation for suspected abuse of market dominance according to the Anti-Monopoly Law of the People's Republic of China [1]. - The company has faced multiple regulatory discussions in 2025 regarding practices such as "forced choice" and unfair pricing interventions [1]. - Ctrip's stock price fell by 6.49% to 569.5 HKD per share following the announcement of the investigation [1]. Group 2: Market Position and Competitors - Ctrip is a leading player in the Chinese Online Travel Agency (OTA) sector, having undergone significant business development and acquisitions [2]. - The company holds a market share of 56% in the OTA sector as of 2024, maintaining a dominant position [2]. - Ctrip targets the mid-to-high-end travel market, primarily serving consumers from high-tier cities, including young professionals and business travelers [2]. Group 3: Performance Metrics - Ctrip's net operating revenue reached 18.3 billion RMB in Q3 2025, reflecting a year-on-year increase of 16% due to strong travel demand [3]. - The international OTA platform bookings grew by approximately 60% year-on-year, with inbound tourism bookings increasing by over 100% [3]. - Outbound hotel and flight bookings have risen to 140% of the levels seen in the same period of 2019 [3].