Highlights of AsiaInfo Holdings’ (ASIA) second quarter results include strong revenue and earnings numbers.

AsiaInfo Holdings Inc. [[ASIA]] total revenues for the second quarter of 2009 were US$58.6 million, an increase of 39.3% year-over-year and 14.9% sequentially. The year-over-year and sequential increases were primarily driven by strong performance among all three major customers in the telecom business.

AsiaInfo recorded net income attributable to AsiaInfo Holdings, Inc. of US$7.2 million, or US$0.16 per basic share, compared to US$5.2 million, or US$0.12 per basic share, in the year-ago period and US$5.8 million, or US$0.13 per basic share in the previous quarter.

During the quarter, gross margin was 49.0%, compared to 45.0% in the year-ago period and 54.0% in the previous quarter. The year-over-year increase in gross margin was primarily due to a strong contribution from higher-margin software solutions and services and a decrease in lower-margin, third-party hardware sales, while the sequential decrease was largely due to increased share-based compensation expenses related to the performance stock unit awards granted to key employees on March 16, 2009.

Sun Life Financial (SLF) and China Everbright Group will become Sun Life Everbright Life Insurance Company Ltd. in an effort to grab more of the growing life insurance and financial services market in China.

Sun Life Financial Inc. [[SLF]] announced today that it has entered into an agreement with the China Everbright Group to reposition Sun Life Everbright Life Insurance Company Limited to capture a larger share of China’s growing financial services sector. The restructuring, which is subject to regulatory approval, is anticipated to take effect by the end of this year.

Sun Life and China Everbright have agreed to introduce strategic investors to Sun Life Everbright, which will more than double its registered capital to approximately CDN$500 million (RMB 3 billion). The banking and securities operations of China Everbright will become more important marketing and distribution channels for the products and services of Sun Life Everbright, thereby providing greater reach to customers across China. The company will continue under the Sun Life Everbright name.

Sun Life, which will have a 20% interest in the restructured and repositioned company, will continue to provide its international risk management and actuarial expertise and standards to Sun Life Everbright. Sun Life and China Everbright are also seeking opportunities to enhance their partnership by expanding into other financial services.

“This strategic restructuring is in the best long-term interest of our shareholders and secures our participation in the tremendous growth and promise of China’s life insurance and broader financial services market,” said Donald A. Stewart, Chief Executive Officer, Sun Life Financial. “We are maintaining a meaningful, strategic interest in one of China’s top financial services companies and affirming our long-term commitment to China.”

“This important agreement strengthens the strategic partnership between Sun Life and China Everbright,” said China Everbright Group Chairman Tang Shuangning. “It will advance mutual support and the common interests of both companies to grow, to serve Chinese consumers, and to achieve a larger share of the Chinese domestic protection market.”

China Green Agriculture (CGA) announced it expects to exceed analysts’ estimates for fourth quarter revenue thanks to market share gains.

China Green Agriculture, Inc. [[CGA]], a producer and distributor of humic acid, today announced that the Company expects to exceed the high end of its previously announced revenue guidance of $32.8 million to $33.3 million due to strong sales from its green fertilizer products in the fiscal fourth quarter of 2009. The Company now expects revenues in excess of $34 million for fiscal year 2009; a record for the company. Fiscal year 2009 and fourth quarter financial results will be reported in mid-September 2009.

“We are extremely pleased with our business momentum which enabled us to exceed our previously announced revenue guidance for the 2009 fiscal year,” stated Mr. Tao Li, Chairman and CEO of China Green Agriculture. “China Green Agriculture continues to gain market share while further establishing our position as a leading green fertilizer player in our industry. We are confident that our extensive distribution network, cohesive marketing strategy and sustained market demand for our green fertilizer products, will enable us to deliver incremental revenue and earnings growth for our company during fiscal year 2010.”

PetroChina (PTR) was today’s top Chinese mover, losing significant value, but it had good company with Chinese Petroleum & Chemical (SNP) and CNOOC Limited (CEO) also dropping.

PetroChina Company Ltd. [[PTR]] lost $9.3 billion in market value today it today’s top loser by market capitalization. Though the energy sector was down generally today, Chinese refiners were particularly hard hit due to China’s cut of fuel prices.

The Chinese government totally controls gasoline and diesel prices, and in an unexpected move it cut prices by more than 3% – cut that comes almost directly from PetroChina’s margins. Fellow Chinese refiners China Petroleum & Chemical Corp. [[SNP]], more commonly known as Sinopec, and CNOOC Limited [[CEO][ also dropped significantly.