As of June 6, Trip.com Group’s market capitalization on the Hong Kong Stock Exchange surged to approximately HKD 277.4 billion (USD 35.5 billion), surpassing that of its major shareholder Baidu, which stood at HKD 265.9 billion (USD 34 billion). The online travel group now ranks the 7th in market capitalization among China’s internet giants, according to the calculation by local media.
Since the beginning of 2024, Trip.com Group's stock price has increased by nearly 50% within six months, adding almost HKD 100 billion (USD 12.8 billion) which is the biggest increase among the Chinese internet giants.
Baidu’s investor relationship with Trip.com Group dates back to October 2015, when the two companies reached a share exchange agreement in which Baidu sold its 45% stake in Qunar to Trip.com in exchange for 25% of Trip.com's shares.
Despite the impact of COVID-19 during the past three years, Trip.com solidified its relationships with major airlines and high-end hotels by advancing refund fees and using live-streaming promotions. Chairman James Liang visited tourism bureaus of various countries to promote the opening up of policies from a high level, and took the opportunity to to tighten the supply chain. When the market turns favorable, these measures gradually begin to take effect and generate profits, these are the fundamental reasons for the growth of Trip.com.
