Jing Ji Guan Cha Wang·2026-02-12 22:48Group 1 - The State Administration for Market Regulation announced an investigation into Ctrip Group for suspected monopolistic behavior on January 14, 2026, leading to a significant drop in its stock price [1] - From the announcement until February 12, 2026, Ctrip's stock price fell by 29.36%, from HKD 609.00 to HKD 428.80, with a low of HKD 425.00, while the Hang Seng Index decreased by 0.86% and the tourism sector dropped by 3.59% [2] - The investigation reflects a shift in regulatory focus, moving from merely market share to concerns about price control practices that hinder normal price transmission and exacerbate competition within the industry [3] Group 2 - The online travel industry is facing competitive pressure from platforms like Meituan and Fliggy, which may also impact stock performance [4] - Ctrip's net profit reached CNY 29 billion in the first three quarters of 2025, contrasting with the financial struggles of airlines and hotel groups, potentially drawing regulatory scrutiny regarding industry profit distribution [3]