Company: TCOM
Filing Date: 2025-04-11
Form Type: 20-F
Source: 0001193125-25-078429
Chunk: 146

Company: Trip.com Group Ltd
Filing Date: 2025-04-11
Form: 20-F
Item: Item 5
Chunk 146
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, and one major facility loan outstanding under which the aggregate outstanding principal balance is US$1.2 billion. 
 Except as disclosed in this annual report, we have no outstanding bank loans or financial guarantees or similar commitments to guarantee the payment obligations of third parties. Based on our liquidity assessment, we believe that our cash flow from operations and proceeds from our financing activities will be sufficient to meet our anticipated cash needs, including our cash needs for working capital and capital expenditures, for the foreseeable future and for at least 12 months subsequent to the filing of this annual report. We may, however, require additional cash resources due to changing business conditions or other future developments, including any investments or acquisitions we may decide to pursue. See also “Item 3. Key Information—D. Risk Factors—Risks Relating to Our Business and Industry—We may need additional capital and we may not be able to obtain it.” 
 Off-balance Sheet Arrangements 
 In connection with our air ticketing business, we are required by the China Air Transport Association and International Air Transport Association to enter into guarantee arrangements and to pay deposits. The unused deposits are repaid at the end of the guaranteed period on an annual basis. As of December 31, 2024, the total quota of the air tickets that we were entitled to issue was up to RMB1.1 billion (US$152 million). The total amount of the deposit we paid was RMB149 million (US$20 million). 
 Based on the guarantee arrangements, the maximum amount of the future payments is approximately RMB961 million (US$132 million), which is the guaranteed amount of the air ticket that we could issue rather than a financial guarantee. We will be liable to pay only when we issue the air tickets to our users and such payable is included in the accounts payable. Therefore, we believe the guarantee arrangements do not constitute any contractual and constructive obligation of us and has not recorded any liability beyond the amount of the tickets that have already been issued. 
 
95 

 Material Cash Requirements 
 Our material cash requirements as of December 31, 2024 primarily included our debt obligations and capital expenditure commitments. 
 Our debt obligations consist of the principal and interest amounts in connection with our convertible and exchangeable senior notes, term loans and other debts. Payment due within one year from December 31, 2024 for our debt obligations amounted to RMB20.0 billion (US$2.7 billion). Payment due after one year from December 31, 2024 for our