TRIP.COM-S Drops Approximately 6%; Reports Indicate Certain Platforms Benefiting from Official Free Waitlist Ticketing Feature of 12306 Railway Ticketing Site
Stock Performance: TRIP.COM-S (09961.HK) experienced a significant decline, opening 1.7% lower and settling at HK$456.8, down 5.78%, with a trading volume of 6.8988 million shares.
Short Selling Activity: The stock saw short selling amounting to $389.10 million, with a short selling ratio of 10.806%.
Controversial Ticketing Practices: A commentary from Xinhua News Agency criticized platforms for misrepresenting the official free waitlist ticketing function of the 12306 railway website as "paid privileges," promoting misleading "acceleration packages" and "VIP channels."
Consumer Rights Concerns: The article highlighted the potential risks to consumer rights due to the opaque nature of these services and urged passengers to utilize official channels to avoid unnecessary fees.
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CN NAFR Engages in Discussions with Six Travel Platforms, Including TRIP.COM-S and Amap, to Advocate for Standardized Marketing Practices
Regulatory Discussions: The National Administration of Financial Regulation (NAFR), along with SAMR and PBOC, held discussions with six travel platform companies regarding their lending operations with financial institutions.
Marketing Practices Standardization: Companies are required to standardize marketing practices, avoid misleading promotional language, and clearly disclose lending institution names and credit product information.
Responsible Borrowing Advisory: The platforms must advise borrowers on responsible borrowing and ensure accessible customer complaint channels for resolving disputes.
Consumer Rights Protection: The focus is on enhancing service quality and effectively safeguarding consumers' legitimate rights and interests.
Daiwa Maintains Positive Perspective on Chinese Market, Names LAOPU GOLD and KINGSOFT CLOUD as Preferred Selections
GDP Target Insights: Daiwa estimates an implied national GDP target of 5% for China in 2026, suggesting a more conservative official target of 4.5-4.7%, with potential economic stimulus measures expected following the "Two Sessions" on March 5.
Market Outlook: Despite recent market turmoil, Daiwa maintains an optimistic outlook for the Chinese stock market in the first half of 2026, anticipating that gradual stimulus measures could enhance investment sentiment.
Top Stock Picks: Daiwa has updated its top stock picks to include LAOPU GOLD and KINGSOFT CLOUD, driven by strong downstream demand and price increase expectations, replacing previous picks SHENZHOU INTL and TRIP.COM.
Short Selling Data: The report includes short selling data for various stocks, indicating significant short selling activity in LAOPU GOLD and KINGSOFT CLOUD, reflecting market sentiment and trading strategies.
Bernstein: TENCENT's Valuation Strained Amid Concerns Over Delayed Chatbot Development
Chinese Internet Sector Performance: The Chinese internet sector had a lackluster start in 2026, with KWEB remaining flat year-to-date, while BABA-W outperformed due to its AI agent service, and TENCENT lagged behind amid significant short selling.
AI Chatbot Competition: The competition in the AI chatbot space is intensifying, with major platforms offering subsidies to encourage adoption, although the effectiveness of such strategies is questioned compared to past promotional methods.
Regulatory Concerns: The regulatory environment remains challenging, with investigations into companies like Pinduoduo and TRIP.COM-S contributing to market volatility, alongside rumors of a VAT increase that were later debunked.
TENCENT's AI Development: TENCENT's stock performance reflects investor concerns over its AI capabilities, with a recent valuation downgrade. The company is working on improving its chatbot business and aims to accelerate AI model development following a team restructuring.
Bernstein: TENCENT's Valuation Strained Amid Concerns Over Delayed Chatbot Development
Chinese Internet Sector Performance: The Chinese internet sector has had a lackluster start in 2026, with KWEB remaining flat year-to-date, while BABA-W outperformed due to its AI agent service, and TENCENT lagged behind amid concerns over its chatbot development.
AI Chatbot Competition: The competition in the AI chatbot space is intensifying, with major platforms offering "red packet" subsidies to encourage adoption, although the effectiveness of this strategy is questioned compared to past promotional methods.
Regulatory Environment: The regulatory landscape remains challenging, with investigations into companies like Pinduoduo and TRIP.COM contributing to negative sentiment, alongside rumors of a VAT increase that were later debunked.
TENCENT's Valuation and Future Outlook: TENCENT's stock performance reflects investor concerns about its AI capabilities, leading to a valuation downgrade; however, management is optimistic about future improvements following a restructuring of its AI development team.
JPM Predicts TENCENT Will Gain the Most from DeepSeek's Latest Version Update
Chinese New Year Impact: JPMorgan highlights the Chinese New Year as a crucial release window for consumer tech in China, particularly for the new version of DeepSeek, which could enhance AI's economic viability in consumer products.
Potential Beneficiaries: TENCENT is expected to benefit the most from the new DeepSeek version, followed by companies like TRIP.COM, KUAISHOU, and BEKE, while the effects on BABA and BIDU are anticipated to be mixed.
Independent Model Manufacturers: Companies like KNOWLEDGE ATLAS and MINIMAX are expected to signal their capabilities and technology advancements rather than immediately capturing customers with their new models.
Market Dynamics: The report includes short selling data for various companies, indicating market sentiment and potential volatility surrounding these tech stocks.
Beijing Market Regulator Engages in Discussions with 12 Online Platforms for Third-Party Train Ticket Sales
Meeting Overview: The Beijing Municipal Administration for Market Regulation held a meeting with 12 major online train ticket platforms, including TRIP.COM and Qunar, to address compliance issues in ticket sales.
Compliance Requirements: The Administration outlined four key compliance requirements for the platforms, focusing on business ethics, review of business models, rectification of misleading promotions, and ensuring clear pricing for consumers.
CN NAFR Engages in Discussions with Six Travel Platforms, Including TRIP.COM-S and Amap, to Advocate for Standardized Marketing Practices
Regulatory Discussions: The National Administration of Financial Regulation (NAFR), along with SAMR and PBOC, held discussions with six travel platform companies regarding their lending operations with financial institutions.
Marketing Practices Standardization: Companies are required to standardize marketing practices, avoid misleading promotional language, and clearly disclose lending institution names and credit product information.
Responsible Borrowing Advisory: The platforms must advise borrowers on responsible borrowing and ensure accessible customer complaint channels for resolving disputes.
Consumer Rights Protection: The focus is on enhancing service quality and effectively safeguarding consumers' legitimate rights and interests.
Daiwa Maintains Positive Perspective on Chinese Market, Names LAOPU GOLD and KINGSOFT CLOUD as Preferred Selections
GDP Target Insights: Daiwa estimates an implied national GDP target of 5% for China in 2026, suggesting a more conservative official target of 4.5-4.7%, with potential economic stimulus measures expected following the "Two Sessions" on March 5.
Market Outlook: Despite recent market turmoil, Daiwa maintains an optimistic outlook for the Chinese stock market in the first half of 2026, anticipating that gradual stimulus measures could enhance investment sentiment.
Top Stock Picks: Daiwa has updated its top stock picks to include LAOPU GOLD and KINGSOFT CLOUD, driven by strong downstream demand and price increase expectations, replacing previous picks SHENZHOU INTL and TRIP.COM.
Short Selling Data: The report includes short selling data for various stocks, indicating significant short selling activity in LAOPU GOLD and KINGSOFT CLOUD, reflecting market sentiment and trading strategies.
Bernstein: TENCENT's Valuation Strained Amid Concerns Over Delayed Chatbot Development
Chinese Internet Sector Performance: The Chinese internet sector had a lackluster start in 2026, with KWEB remaining flat year-to-date, while BABA-W outperformed due to its AI agent service, and TENCENT lagged behind amid significant short selling.
AI Chatbot Competition: The competition in the AI chatbot space is intensifying, with major platforms offering subsidies to encourage adoption, although the effectiveness of such strategies is questioned compared to past promotional methods.
Regulatory Concerns: The regulatory environment remains challenging, with investigations into companies like Pinduoduo and TRIP.COM-S contributing to market volatility, alongside rumors of a VAT increase that were later debunked.
TENCENT's AI Development: TENCENT's stock performance reflects investor concerns over its AI capabilities, with a recent valuation downgrade. The company is working on improving its chatbot business and aims to accelerate AI model development following a team restructuring.
Bernstein: TENCENT's Valuation Strained Amid Concerns Over Delayed Chatbot Development
Chinese Internet Sector Performance: The Chinese internet sector has had a lackluster start in 2026, with KWEB remaining flat year-to-date, while BABA-W outperformed due to its AI agent service, and TENCENT lagged behind amid concerns over its chatbot development.
AI Chatbot Competition: The competition in the AI chatbot space is intensifying, with major platforms offering "red packet" subsidies to encourage adoption, although the effectiveness of this strategy is questioned compared to past promotional methods.
Regulatory Environment: The regulatory landscape remains challenging, with investigations into companies like Pinduoduo and TRIP.COM contributing to negative sentiment, alongside rumors of a VAT increase that were later debunked.
TENCENT's Valuation and Future Outlook: TENCENT's stock performance reflects investor concerns about its AI capabilities, leading to a valuation downgrade; however, management is optimistic about future improvements following a restructuring of its AI development team.
JPM Predicts TENCENT Will Gain the Most from DeepSeek's Latest Version Update
Chinese New Year Impact: JPMorgan highlights the Chinese New Year as a crucial release window for consumer tech in China, particularly for the new version of DeepSeek, which could enhance AI's economic viability in consumer products.
Potential Beneficiaries: TENCENT is expected to benefit the most from the new DeepSeek version, followed by companies like TRIP.COM, KUAISHOU, and BEKE, while the effects on BABA and BIDU are anticipated to be mixed.
Independent Model Manufacturers: Companies like KNOWLEDGE ATLAS and MINIMAX are expected to signal their capabilities and technology advancements rather than immediately capturing customers with their new models.
Market Dynamics: The report includes short selling data for various companies, indicating market sentiment and potential volatility surrounding these tech stocks.
Beijing Market Regulator Engages in Discussions with 12 Online Platforms for Third-Party Train Ticket Sales
Meeting Overview: The Beijing Municipal Administration for Market Regulation held a meeting with 12 major online train ticket platforms, including TRIP.COM and Qunar, to address compliance issues in ticket sales.
Compliance Requirements: The Administration outlined four key compliance requirements for the platforms, focusing on business ethics, review of business models, rectification of misleading promotions, and ensuring clear pricing for consumers.
