Trip.com was heavily fined 5.179 billion yuan by China's State Administration for Market Regulation, but what's even more chilling and disheartening is its equity structure. Currently, the top three shareholders of Trip.com Group are: 1. Capital World Investors (holding 8.9%), 2. Baidu Group (holding 7.3%), 3. BlackRock (holding 5.2%). Founder Liang Jianzhang holds 6.5%. The top three in the capital structure are all foreign institutions plus Baidu. Liang Jianzhang's 6.5% doesn't look like the highest, but the voting rights structure still allows him to maintain actual control. The 5.179 billion fine falls on the Chinese entity, while foreign shareholders continue to collect dividends. The risks, however, are borne by domestic operations and consumers. This kind of "globalized profits, localized responsibilities" mismatch is the real issue to focus on. Calling Trip.com a foreign enterprise is not an exaggeration. On one hand, it sucks the blood of Chinese citizens, and on the other, it enjoys stock dividends abroad, living carefree. These foreign capitalists are truly f***ing despicable! Trip.com should just go bankrupt.