Company: TCOM
Filing Date: 2025-04-11
Form Type: 20-F
Source: 0001193125-25-078429
Chunk: 5

Company: Trip.com Group Ltd
Filing Date: 2025-04-11
Form: 20-F
Item: Item 3
Chunk 5
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 translations from Renminbi to U.S. dollars were made at a rate of RMB7.2993 to US$1.00, which was the exchange rate in effect as of December 31, 2024 as set forth in the H.10 statistical release of The Board of Governors of the Federal Reserve System. The exchange rate in effect as of April 4, 2025 was RMB7.2803 to US$1.00. We make no representation that any Renminbi amounts referred to in this annual report could have been, or could be, converted to U.S. dollars at any particular rate, or at all. 
 
6 

 Our Holding Company Structure and Contractual Arrangements with the VIEs 
 The following diagram illustrates our corporate structure, including our significant subsidiaries and the VIEs as of December 31, 2024. 
 
 <img alt="LOGO" src="g779353g99n19.jpg"/>

Notes: 
 

(1)   Indirectly owned through Blossom International Holding (formerly known as Trip.com International), a Cayman Islands company.
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(2)   The 57% owners of Qunar Cayman Islands Limited are several non-U.S. investment entities, namely M Strat Holdings, L.P., Momentum Strategic Holdings, L.P., Ocean Management Limited, and Earthly Paradise Investment Fund L.P., which are consolidated by us under U.S. GAAP.
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(3)   Indirectly owned through Ctrip Travel Holding (Hong Kong) Limited and Ctrip.com (Hong Kong) Limited, both of which are Hong Kong companies.
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(4)   Indirectly owned through Ctrip Investment (Shanghai) Co., Ltd., a PRC company.
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(5)   Indirectly owned through Queen’s Road Travel Information Limited, a Hong Kong company.
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(6)   Bo Sun and Maohua Sun hold 89.8% and 10.2% of the equity interest in Shanghai Ctrip Commerce Co., Ltd., respectively.
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(7)   Hui Cao and Hui Wang hold 60% and 40% of the equity interest in Beijing Qu Na Information Technology Co., Ltd., respectively.
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 Trip.com Group Limited is not an operating company but a Cayman Islands holding company with no equity ownership in the VIEs. Our operations in China are conducted through (i) our PRC subsidiaries