Company: TCOM
Filing Date: 2025-04-11
Form Type: 20-F
Source: 0001193125-25-078429
Chunk: 177

Company: Trip.com Group Ltd
Filing Date: 2025-04-11
Form: 20-F
Item: Item 7
Chunk 177
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 their respective obligations under the agreement, and the shareholders of Ctrip Commerce (VIE) have no right to unilaterally terminate these agreements or repay the loan in advance. The loan agreements are valid and binding on the parties, their successors and permitted assignees. In the event that the PRC government lifts its restrictions on foreign ownership of the value-added telecommunications business in China, as applicable, we will exercise our exclusive option to purchase all of the outstanding equity interests of Ctrip Commerce (VIE), as described in the following paragraph, and the loan agreements will be canceled in connection with such purchase. However, it is uncertain when, if at all, the PRC government will lift any or all of these restrictions. 
 As of the date of this annual report, pursuant to the loan agreement among Qunar Software, Hui Cao and Hui Wang, the loans extended by Qunar Software to each of Hui Cao and Hui Wang are only repayable by a transfer of such borrower’s equity interest in Qunar Beijing (VIE) to Qunar Software or its designated party, in proportion to the amount of the loan to be repaid. This loan agreement will continue in effect indefinitely until such time when (i) the borrowers receive a repayment notice from Qunar Software and fully repay the loans, or (ii) an event of default (as defined therein) occurs unless Qunar Software sends a notice indicating otherwise within 15 calendar days after it is aware of such event. The loan agreements are valid and binding on the parties, their successors and permitted assignees. The terms of this loan agreement are substantially similar to the terms described in the foregoing paragraphs. 
 The following table sets forth, as of the date of this annual report, the amount of each business loan, the date each business loan arrangement was entered into, the principal, interest, maturity date and outstanding balance of the loan, the borrower and the corresponding significant VIE. 
 

Date of Loan Agreement   Borrower     Significant VIE                          Principal   Interest   Maturity Date                            Outstanding
                                                                                                                                                   Balance
                                                                 RMB                 US$                                           RMB                 US$
                                                                           (in millions)                                                     (in millions)
November 30, 2021        Bo Sun       Ctrip Commerce (VIE)     808.2               110.7   None       November 29, 2031          808.2               110.7
April 9, 2019            Maohua Sun   Ctrip Commerce (VIE