HK Stock Market Move | TRIP.COM-S (09961) rose more than 5% in morning trading; Citi expects Ctrip's third-quarter revenue of RMB18.9 billion, in line with market expectations.

TRIP.COM-S (09961) rose more than 5% in morning trading. As of press time, it was up 4.36% at HK$325.8, with turnover of HK$317 million. On the news front, Ctrip is expected to announce its third-quarter results between mid- and late November. Citi expects third-quarter total revenue to rise 3% year on year to RMB18.9 billion, in line with market expectations. Gross margin is expected to be 81.3%, adjusted operating margin is expected to be 31.4%, and adjusted profit is expected to be approximately RMB5.3 billion, in line with market expectations. CMSC issued a research report stating that since 2026, domestic leisure travel demand has continued to be released, summer travel demand has remained resilient, and coupled with hotel supply growth and the continued increase in online penetration, the OTA industry's operating performance has been stable and improving. In terms of outbound travel, with the recovery of international routes and the release of residents' cross-border travel demand, destination recovery performance has diverged somewhat, and international business remains an important DRIVE for long-term growth of leading OTAs.