Company: TCOM
Filing Date: 2025-04-11
Form Type: 20-F
Source: 0001193125-25-078429
Chunk: 138

Company: Trip.com Group Ltd
Filing Date: 2025-04-11
Form: 20-F
Item: Item 5
Chunk 138
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 the above table between the amounts or percentages identified as total amounts or percentages and the sum of the amounts or percentages listed therein are due to rounding. 
 2024 compared to 2023 
 Revenues 
 Total revenues increased by 20% to RMB53.4 billion (US$7.3 billion) in 2024 from RMB44.6 billion in 2023, primarily driven by resilient travel demand and consumption throughout the year. 
 Accommodation Reservation. Accommodation reservation revenue increased by 25% to RMB21.6 billion (US$3.0 billion) in 2024 from RMB17.3 billion in 2023. This was in line with the 19% increase in accommodation reservation GMV, primarily driven by robust growth across our domestic, outbound and international markets. 
 Transportation Ticketing. Transportation ticketing revenue increased by 10% to RMB20.3 billion (US$2.8 billion) in 2024 from RMB18.4 billion in 2023. This was in line with the 8% increase in transportation ticketing GMV, primarily driven by an increase in market demands in transportation reservations.   Packaged Tours. Packaged tours revenue increased by 38% to RMB4.3 billion (US$594 million) in 2024 from RMB3.1 billion in 2023, primarily driven by an increase in market demands in packaged-tour reservations. 
 Corporate Travel. Corporate travel revenue increased by 11% to RMB2.5 billion (US$343 million) in 2024 from RMB2.3 billion in 2023, primarily driven by more companies adopting our managed corporate travel services. 
 Others. Other revenues increased to RMB4.6 billion (US$634 million) in 2024 from RMB3.5 billion in 2023. 
 Cost of Revenues 
 Cost of revenues increased by 23% to RMB10.0 billion (US$1.4 billion) in 2024 from RMB8.1 billion in 2023, which was in line with the increase in our total revenues. 
 
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 Operating Expenses 
 Operating expenses include product development expenses, sales and marketing expenses, and general and administrative expenses. 
 Product Development. Product development expenses increased by 8% to RMB13.1 billion (US$1.8 billion) in 2024 from RMB12.1 billion in 2023, primarily due