Trip.com Group (TCOM) Q2 FY26 earnings call

Trip.com Group delivered resilient Q2 FY26 results, navigating a complex operating environment marked by macroeconomic uncertainties and elevated fuel prices. The company's G2 strategy, focusing on globalization and great quality, drove strong growth in international businesses and inbound travel, while domestic demand remained robust. Significant regulatory changes from the SAMR, including a RMB 5.18 billion penalty and adjustments to partner collaboration frameworks, are being implemented to foster a healthier competitive environment and are expected to cause near-term volatility but support