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Trip.com Group surpasses Baidu in market cap growth

Trip.com Group’s market cap reaches HKD 277.4 billion, surpassing Baidu. Stock price increased by 50% in six months.

HONG KONG – Trip.com Group has seen a remarkable surge in its market capitalization, reaching approximately HKD 277.4 billion (USD 35.5 billion) on the Hong Kong Stock Exchange. This milestone places Trip.com ahead of its major shareholder, Baidu, which currently holds a market capitalization of HKD 265.9 billion (USD 34 billion). According to local media calculations, Trip.com now ranks seventh in market capitalization among China‘s internet giants.

Since the beginning of 2024, Trip.com Group’s stock price has increased by nearly 50% in just six months, adding almost HKD 100 billion (USD 12.8 billion) to its market value. This growth represents the largest increase among the Chinese internet giants, highlighting the company’s robust performance and strategic advancements in the travel industry.

The relationship between Baidu and Trip.com Group dates back to October 2015, when Baidu sold its 45% stake in Qunar to Trip.com in exchange for 25% of Trip.com’s shares. This strategic partnership has played a significant role in shaping Trip.com’s growth trajectory.

Despite the challenges posed by the COVID-19 pandemic over the past three years, Trip.com Group has managed to solidify its relationships with major airlines and high-end hotels. The company advanced refund fees and leveraged live-streaming promotions to maintain its market presence and customer engagement. Additionally, Chairman James Liang‘s proactive visits to tourism bureaus of various countries promoted the opening up of policies, further strengthening the company’s supply chain.

These strategic measures have begun to bear fruit as the market conditions improved, leading to significant profit generation. The company’s ability to adapt and innovate during challenging times has been fundamental to its recent growth.

Trip.com Group’s achievement underscores its commitment to advancing the global travel industry and enhancing its market position. As the company continues to expand and innovate, it remains a pivotal player among China’s top internet giants, driving forward the future of travel.

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George, in his capacity as an intern, diligently oversees the flow of news, assists in the publication of content, and delves into the strategies of social media distribution. He is currently pursuing his studies in Business Administration at the Athens University of Economics and Business.

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