Trip.com Group (HK:9961) saw its shares tumble 10.6% to HK$31.60 by 03:44 GMT, marking the lowest level since August 2024. For the January‑March quarter, net income attributable to shareholders fell to 2.5 billion yuan (approximately $363 million), a decline from 4.3 billion yuan a year earlier. Revenue, however, increased 17% year‑on‑year to 16.2 billion yuan, supported by a 65% rise in gross bookings on the international platform and an approximately 90% surge in inbound travel bookings. Management guided second‑quarter revenue growth to a modest 3%‑8% versus the prior year, attributing the slowdown to macroeconomic headwinds, elevated energy prices, geopolitical volatility, and operational adjustments, and warned that the slower pace would pressure margins and bottom‑line results. The earnings release also disclosed that the company is cooperating with an investigation by China’s State Administration for Market Regulation into possible monopolistic conduct, noting that the probe could result in significant fines or required changes to its business practices.