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Technology Stocks : AUTOHOME, Inc

ATHM 23.46

-1.2%

3:59 PM EST

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To: Jing Qian who wrote (13121)	7/29/1999 8:59:00 PM
From: Michael P. Michaud	Read Replies (2) of 29970

To: E. Davies (13113 ) From: Jing Qian Thursday, Jul 29 1999 8:46PM ET Reply # of 13121 <<<Good that someone like you recognize the real issue. Fremont is ATHM's first test market. But to be honest to all of you, the penetration ratio is NOT that great. Only about 6000 accounts out of 225K residences. And the fact is, Fremont area was entirely upgraded 2 years ago. >>> I can make the same case with the RR service. When I was doing DD I was forced to look at the closest thing to ATHM in my area, which was RR offered by TWX. The greater portland (Me.) area had 2000 accts with 100,000 upgraded homes 1 year ago.. Thats a penetration rate of a paltry 2%. They too had no lines, no waiting. I brought this up to the thread a few days ago after ATHM announced earnings and Eric responded that demand was the reason for the low penetration rate.

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