Trip.com 1H 2026 IFRS net income RMB 2.6B

Trip.com Group Limited (TCOM) provided a reconciliation of its unaudited interim financial statements from U.S. GAAP to IFRS Accounting Standards for the six months ended June 30, 2026, in connection with its Hong Kong interim report.

Rhea-AI Filing Summary

Trip.com Group Limited (TCOM) provided a reconciliation of its unaudited interim financial statements from U.S. GAAP to IFRS Accounting Standards for the six months ended June 30, 2026, in connection with its Hong Kong interim report. The reconciliation shows net income of RMB 80 million under U.S. GAAP versus RMB 2,575 million under IFRS for the first half of 2026, mainly due to fair value treatment of convertible senior notes. For the first half of 2025, net income was RMB 9,194 million under U.S. GAAP and RMB 10,417 million under IFRS. Balance sheet differences between the two frameworks are modest, with total assets of about RMB 259.1 billion and total equity around RMB 160.9 billion under IFRS as of June 30, 2026. PricewaterhouseCoopers in Hong Kong performed a limited assurance engagement on this reconciliation.

Filing Explained

The filing explains that the largest reconciliation item—RMB 2,666 million for the six months ended June 30, 2026—arises because the convertible senior notes are measured at fair value through profit or loss under IFRS, versus amortized cost under U.S. GAAP. The disclosed difference is an accounting-measurement change, not a reported financing transaction.

Key Figures

Net income 1H 2026 (U.S. GAAP): RMB 80 million Net income 1H 2026 (IFRS Accounting Standards): RMB 2,575 million Net income 1H 2025 (U.S. GAAP): RMB 9,194 million +5 more

8 metrics

Net income 1H 2026 (U.S. GAAP) RMB 80 million Unaudited consolidated statements of income for the six months ended June 30, 2026

Net income 1H 2026 (IFRS Accounting Standards) RMB 2,575 million After IFRS adjustments including fair value changes of convertible senior notes

Net income 1H 2025 (U.S. GAAP) RMB 9,194 million Unaudited consolidated statements of income for the six months ended June 30, 2025

Net income 1H 2025 (IFRS Accounting Standards) RMB 10,417 million After IFRS adjustments for 2025 interim period

Total assets (IFRS) as of June 30, 2026 RMB 259,109 million Unaudited consolidated balance sheet under IFRS Accounting Standards

Total equity (IFRS) as of June 30, 2026 RMB 160,905 million Unaudited consolidated balance sheet under IFRS Accounting Standards

Total liabilities (IFRS) as of December 31, 2025 RMB 97,378 million Reconciled from U.S. GAAP to IFRS Accounting Standards

Total equity (IFRS) as of December 31, 2025 RMB 170,065 million Reconciled from U.S. GAAP to IFRS Accounting Standards

Key Terms

IFRS Accounting Standards, fair value through profit or loss, variable interest entities, limited assurance engagement, +2 more

6 terms

IFRS Accounting Standards financial

"differences between U.S. GAAP and the International Financial Reporting Standards"

International Financial Reporting Standards (IFRS) are a set of common rules for preparing company financial reports so numbers like profit, assets and debt are presented consistently across countries. Think of them as a standardized recipe or blueprint that helps investors compare businesses the same way they would compare cars using the same list of features; consistent reporting reduces surprises and makes it easier to assess value, risk and performance.

fair value through profit or loss financial

"measured the investments in equity instruments at fair value through profit or loss"

An accounting classification for certain financial assets where their current market price is used to update value on the books, and any increase or decrease is recorded immediately in the company’s profit & loss statement. Like checking the daily score of an investment and noting the gain or loss right away, this approach makes reported earnings reflect market swings more quickly, which can increase short-term volatility in reported profits and help investors see real-time value changes.

variable interest entities financial

"the Company, its subsidiaries, the variable interest entities, and the subsidiaries"

A variable interest entity (VIE) is a business that a company controls through contracts or special arrangements instead of owning a majority of its shares, like steering a puppet without holding its ticket. Investors care because these arrangements can hide who really bears the financial risks and rewards, affect how assets and liabilities appear on financial statements, and create extra legal or enforcement uncertainty that can change the value and risk of an investment.

limited assurance engagement financial

"PricewaterhouseCoopers ... has performed a limited assurance engagement"

non-controlling interest financial

"the Company recognizes the Equity Interest as non-controlling interest"

Non-controlling interest represents the portion of ownership in a company held by investors who do not have a controlling stake, meaning they do not have enough voting power to make major decisions. It is similar to owning a minority share of a business partner’s company—while they benefit from profits, they cannot control how the company is run. This matters to investors because it shows how much of the company's value is owned by outside shareholders and affects overall financial reporting.

Solely Payments of Principal and Interest financial

"contractual cashflow could not pass the Solely Payments of Principal and Interest test"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does Trip.com Group (TCOM) disclose in this 6-K filing?

Trip.com Group discloses a reconciliation of its unaudited 2026 interim financial statements from U.S. GAAP to IFRS Accounting Standards, including income statement and balance sheet differences and explanatory notes for key accounting policy divergences.

How does TCOM’s 2026 first-half net income differ under U.S. GAAP versus IFRS?

For the six months ended June 30, 2026, Trip.com Group reports RMB 80 million net income under U.S. GAAP and RMB 2,575 million under IFRS, largely driven by fair value changes of convertible senior notes recognized in profit or loss under IFRS.

What are Trip.com Group’s key 2026 IFRS balance sheet figures?

As of June 30, 2026, Trip.com Group reports under IFRS total assets of RMB 259,109 million, total liabilities of RMB 98,204 million, and total equity of RMB 160,905 million, compared with very similar totals under U.S. GAAP.

How do IFRS accounting rules change TCOM’s treatment of convertible senior notes?

Under U.S. GAAP, Trip.com Group measures its convertible notes at amortized cost with the premium or discount recognized as interest expense. Under IFRS, the notes are designated at fair value through profit or loss, with fair value changes recorded in profit or loss and own-credit changes in other comprehensive income.

What assurance work did PwC perform on Trip.com Group’s reconciliation?

PricewaterhouseCoopers, Trip.com Group’s Hong Kong auditor, performed a limited assurance engagement on the reconciliation in accordance with International Standard on Assurance Engagements 3000 (Revised), which covers assurance engagements other than audits or reviews of historical financial information.

How does TCOM’s 2025 first-half net income compare under U.S. GAAP and IFRS?

For the six months ended June 30, 2025, Trip.com Group reports net income of RMB 9,194 million under U.S. GAAP and RMB 10,417 million under IFRS, reflecting IFRS adjustments including fair value changes on investments and convertible senior notes.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 6-K: How Foreign Companies Report to the SEC →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Available on EDGAR 09/16/2026 - 06:06 AM Accepted by SEC EDGAR 09/16/2026 - 06:06 AM Learn about SEC filing dates

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of September 2026

Commission File Number: 001-33853

Trip.com Group Limited

(Registrant’s Name)

30 Raffles Place, #29-01

Singapore 048622

(Address of Principal Executive Offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F ☒    Form 40-F ☐

EXPLANATORY NOTE

On September 16, 2026, Hong Kong Time, the Company published its unaudited financial results for the second quarter and first half of 2026 as its interim report for the six months ended June 30, 2026 (the “HK Interim Report”) under Rule 13.48(1) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “Hong Kong Listing Rules”) on the website of The Stock Exchange of Hong Kong Limited. Pursuant to the Hong Kong Listing Rules, the HK Interim Report contains supplemental disclosure of reconciliation of the material differences between the unaudited consolidated financial statements of the Company prepared under the U.S. GAAP and International Financial Reporting Standards, which is attached hereto as Exhibit 99.1.

EXHIBIT INDEX

Exhibit No.		Description
99.1		Supplemental Disclosure—Reconciliation Between U.S. GAAP and IFRS Accounting Standards

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

TRIP.COM GROUP LIMITED
By		:		/s/ Cindy Xiaofan Wang
Name		:		Cindy Xiaofan Wang
Title		:		Chief Financial Officer

Date: September 16, 2026

Exhibit 99.1

RECONCILIATION BETWEEN U.S. GAAP AND IFRS ACCOUNTING STANDARDS

The unaudited consolidated statements of income for the six months ended June 30, 2026 and the unaudited consolidated balance sheet as of June 30, 2026 (collectively, the “Unaudited Interim Financial Statements”) of Trip.com Group Limited (the “Company”), its subsidiaries, the variable interest entities, and the subsidiaries of the variable interest entities (collectively, the “Group”) are prepared in accordance with the accounting principles generally accepted in the United States of America (the “U.S. GAAP”), and the differences between U.S. GAAP and the International Financial Reporting Standards (the “IFRS Accounting Standards”) issued by the International Accounting Standards Board (together, the “Reconciliation Statement”) have been disclosed in the Appendix – Reconciliation Between U.S. GAAP and IFRS Accounting Standards attached herein.

PricewaterhouseCoopers, the auditor of the Company in Hong Kong, has performed a limited assurance engagement on the Reconciliation Statement in accordance with International Standard on Assurance Engagements 3000 (Revised) “Assurance Engagements Other Than Audits or Reviews of Historical Financial Information” issued by the International Auditing and Assurance Standards Board.

Appendix

The Unaudited Interim Financial Statements of the Group are prepared in accordance with U.S. GAAP, which differ in certain respects from IFRS Accounting Standards. The effects of material differences between the Unaudited Interim Financial Statements prepared under U.S. GAAP and IFRS Accounting Standards are as follows:

Reconciliation of unaudited consolidated statements of income

						For the six months ended June 30, 2026
						IFRS Accounting Standards adjustments
		Amounts as reported under U.S. GAAP				Share- based compensation				Leases				Equity securities without readily determinable fair values				Equity method investments				Available- for-sale debt investments				Convertible senior notes				Software				Business combinations				Amounts under IFRS Accounting Standards
						Note(i)				Note(ii)				Note(iii)				Note(iv)				Note(v)				Note(vi)				Note(vii)				Note(viii)
		RMB (in millions)
Product development			(7,854	)			(76	)			—				—				—				—				—				—				—				(7,930	)
Sales and marketing			(7,588	)			(12	)			—				—				—				—				—				—				—				(7,600	)
General and administrative			(7,456	)			(55	)			1				—				—				—				—				—				—				(7,510	)
Income from operations			2,483				(143	)			1				—				—				—				—				—				—				2,341
Interest expense			(232	)			—				(18	)			—				—				—				64				—				7				(179	)
Fair value changes on investments measured at fair value through profit or loss			—				—				—				3				—				—				—				—				—				3
Fair value changes of convertible senior notes			—				—				—				—				—				—				2,602				—				—				2,602
Income/(loss) before income tax expense and equity in loss of affiliates			2,353				(143	)			(17	)			3				—				—				2,666				—				7				4,869
Income tax expense			(1,692	)			—				—				(0	)			—				—				—				—				—				(1,692	)
Equity in loss of affiliates			(581	)			—				—				—				(21	)			—				—				—				—				(602	)
Net income/(loss)			80				(143	)			(17	)			3				(21	)			—				2,666				—				7				2,575

						For the six months ended June 30, 2025
						IFRS Accounting Standards adjustments
		Amounts as reported under U.S. GAAP				Share- based compensation				Leases				Equity securities without readily determinable fair values				Equity method investments				Available- for-sale debt investments				Convertible senior notes				Software				Business combinations				Amounts under IFRS Accounting Standards
						Note(i)				Note(ii)				Note(iii)				Note(iv)				Note(v)				Note(vi)				Note(vii)				Note(viii)
		RMB (in millions)
Product development			(7,025	)			(81	)			—				—				—				—				—				—				—				(7,106	)
Sales and marketing			(6,325	)			(15	)			—				—				—				—				—				—				—				(6,340	)
General and administrative			(2,135	)			(81	)			21				—				—				—				—				—				—				(2,195	)
Income from operations			7,665				(177	)			21				—				—				—				—				—				—				7,509
Interest expense			(551	)			—				(16	)			—				—				—				67				—				—				(500	)
Fair value changes on investments measured at fair value through profit or loss			—				—				—				9				—				37				—				—				—				46
Fair value changes of convertible senior notes			—				—				—				—				—				—				1,284				—				—				1,284
Income/(loss) before income tax expense and equity in income/(loss) of affiliates			10,614				(177	)			5				9				—				37				1,351				—				—				11,839
Income tax expense			(1,636	)			—				—				(1	)			—				—				—				—				—				(1,637	)
Equity in income/(loss) of affiliates			216				—				—				—				(1	)			—				—				—				—				215
Net income/(loss)			9,194				(177	)			5				8				(1	)			37				1,351				—				—				10,417

Reconciliation of unaudited consolidated balance sheets

						As of June 30, 2026
						IFRS Accounting Standards adjustments
		Amounts as reported under U.S. GAAP				Share- based compensation				Leases				Equity securities without readily determinable fair values				Equity method investments				Available- for-sale debt investments				Convertible senior notes				Software				Business combinations				Amounts under IFRS Accounting Standards
						Note(i)				Note(ii)				Note(iii)				Note(iv)				Note(v)				Note(vi)				Note(vii)				Note(viii)
		RMB (in millions)
Intangible assets and land use rights			12,947				—				(149	)			—				—				—				—				202				—				13,000
Property, equipment and software			5,767				—				—				—				—				—				—				(202	)			—				5,565
Investments			51,361				—				—				(332	)			248				(1,402	)			—				—				—				49,875
Investments measured at fair value through profit or loss			—				—				—				431				—				1,402				—				—				—				1,833
Goodwill			62,196				—				—				—				—				—				—				—				(213	)			61,983
Right-of-use assets			854				—				35				—				—				—				—				—				—				889
Total assets			259,089				—				(114	)			99				248				—				—				—				(213	)			259,109
Short-term debt and current portion of long-term debt			25,767				—				—				—				—				—				(88	)			—				—				25,679
Other payables and accruals			25,750				—				—				—				—				—				(5	)			—				—				25,745
Deferred tax liabilities			4,233				—				—				12				—				—				—				—				—				4,245
Total liabilities			98,285				—				—				12				—				—				(93	)			—				—				98,204
Total equity			160,804				—				(114	)			87				248				—				93				—				(213	)			160,905

						As of December 31, 2025
						IFRS Accounting Standards adjustments
		Amounts as reported under U.S. GAAP				Share- based compensation				Leases				Equity securities without readily determinable fair values				Equity method investments				Available- for-sale debt investments				Convertible senior notes				Software				Business combinations				Amounts under IFRS Accounting Standards
						Note(i)				Note(ii)				Note(iii)				Note(iv)				Note(v)				Note(vi)				Note(vii)				Note(viii)
		RMB (in millions)
Intangible assets and Land use rights			13,013				—				(151	)			—				—				—				—				188				—				13,050
Property, equipment and software			5,445				—				—				—				—				—				—				(188	)			—				5,257
Investments			61,375				—				—				(338	)			269				(970	)			—				—				—				60,336
Investments measured at fair value through profit or loss			—				—				—				435				—				970				—				—				—				1,405
Goodwill			62,268				—				—				—				—				—				—				—				(213	)			62,055
Right-of-use assets			881				—				54				—				—				—				—				—				—				935
Total assets			267,387				—				(97	)			97				269				—				—				—				(213	)			267,443
Other payables and accruals			9,897				—				—				—				—				—				(5	)			—				—				9,892
Long-term debt			11,430				—				—				—				—				—				2,584				—				—				14,014
Deferred tax liabilities			3,949				—				—				12				—				—				—				—				—				3,961
Total liabilities			94,787				—				—				12				—				—				2,579				—				—				97,378
Total equity			172,600				—				(97	)			85				269				—				(2,579	)			—				(213	)			170,065

Notes:

Basis of Preparation

The Directors of the Company are responsible for preparation of the Reconciliation Statement in accordance with the relevant requirements of the Hong Kong Listing Rules and relevant guidance in HKEX-GL111-22. The Reconciliation Statement was prepared based on the Group’s Unaudited Interim Financial Statements prepared under U.S. GAAP, with adjustments made (if any) thereto in arriving at the unaudited financial information of the Group prepared under IFRS Accounting Standards. The adjustments reflect the differences between the Group’s accounting policies under U.S. GAAP and IFRS Accounting Standards.

(i) Share-based compensation

Under U.S. GAAP, the Company has elected to recognize compensation expense using the straight-line method for all employee equity awards granted with graded vesting over the requisite service period.

Under IFRS Accounting Standards, the graded vesting method is required to recognize compensation expense for all employee equity awards granted with graded vesting.

(ii) Leases

Under U.S. GAAP, for operating leases, the amortization of right-of-use assets and the interest expense element of lease liabilities are recorded together as lease expenses, which are measured on a straight-line basis and are recorded in the consolidated statements of income/(loss).

Under IFRS Accounting Standards, the right-of-use assets are generally depreciated on a straight-line basis while the interest expense related to the lease liabilities are measured under the effective interest method, which results in higher expenses at the beginning of the lease term and lower expenses near the end of the lease term.

(iii) Equity securities without readily determinable fair values

Under U.S. GAAP, the Company elected to measure an equity security without a readily determinable fair value using a measurement alternative that measures the securities at cost minus impairment, if any, plus or minus changes resulting from qualifying observable price changes reported in the profit or loss.

Under IFRS Accounting Standards, the Company measured the investments in equity instruments at fair value through profit or loss (FVTPL). Fair value changes of these investments are recognized in the profit or loss.

(iv) Equity method investments

Under U.S. GAAP and IFRS Accounting Standards, the investor should adjust the results of its associates to align the investee’s accounting policies with its own policies. The reconciliation items mainly arise from different accounting the associates applied under each GAAP.

(v) Available-for-sale debt investments

Under U.S. GAAP, the available-for-sale debt investments classified within Level 3 are valued based on a model utilizing unobservable inputs which require significant management judgment and estimation. The Company reports available-for-sale debt investments at fair value at each balance sheet date with the aggregate unrealized gains and losses, net of tax, reflected in “Accumulated other comprehensive loss” in the consolidated balance sheets. Upon sale, realized gains and losses are reported in net income.

Under IFRS Accounting Standards, since those investments do not meet the definition of the equity instrument from the perspective of issuer, and the contractual cashflow could not pass the Solely Payments of Principal and Interest (the “SPPI”) test, thus they are required to be classified as financial assets measured at fair value with fair value changes recognized in the profit or loss.

(vi) Convertible senior notes

Under U.S. GAAP, the Company’s convertible notes are elected to be measured at amortized cost, with any difference between the initial carrying value and the repayment amount recognized as interest expense using effective interest method over the period from issuance date to maturity date.

Under IFRS Accounting Standards, the Company’s convertible notes are designated as at fair value through profit or loss such that the convertible notes are initially recognized at fair value. Subsequent to initial recognition, the amounts of changes in fair value of the convertible notes that are attributed to changes in own credit risk are presented in other comprehensive income and the remaining fair value changes are presented in the profit or loss.

(vii) Software

Under U.S. GAAP, software is reported under property, equipment and software.

Under IFRS Accounting Standards, software is reported under the intangible asset category. Accordingly, software is reclassified from property, equipment and software to intangible assets.

(viii) Business combinations

In 2025, the Company acquired a majority equity interest in a company (the “acquiree”). Under the terms of the transaction agreements, the Company is also obligated to purchase a portion of the remaining equity interest (the “Equity Interest”) of the acquiree on a specified date (or earlier if triggered by certain events) at a price determined by a predetermined formula (the “Purchase Obligation”).

Under US GAAP, given that the purchase obligation is certain to occur and bundled with the acquisition, the Equity Interest was not recognized as a non-controlling interest, instead the related Purchase Obligation was recognized as a financial liability at the acquisition date and subsequently measured at fair value, with fair value changes recognized in the income statement. This financial liability was treated as part of the purchase consideration when applying acquisition accounting.

Under IFRS Accounting Standards, as it is considered that the Company undertakes the obligation to purchase the Equity Interest at fair value, the risk and reward of the shares reside with non-controlling interests. Therefore, the Company recognizes the Equity Interest as non-controlling interest on the acquisition date. IFRS Accounting Standards also requires the Purchase Obligation to be initially recognized as a separate financial liability (with the corresponding amount debited in equity) on the acquisition date, and the Company has elected to record subsequent changes in the carrying amount of the financial liability in equity. The financial liability was not considered as part of the purchase consideration when applying acquisition accounting. The accounting treatment under IFRS Accounting Standards resulted in a lower purchase consideration and therefore, lower goodwill recognized from the acquisition, compared with US GAAP.

Filing Exhibits & Attachments

1 document

Press Releases

• EX-99.1 EX-99.1 186.4 KB