Sina Corporation reported net revenues a 16 percent year-on-year jump to 53.7 million from 46.7 million US dollars last quarter, said the company in a statement released today. Advertising revenues for the second quarter of 2006 totaled 29.5 million US dollars, a 45 percent year-on-year increase. Advertising revenues represented 55 percent of the Company's total revenues, compared to 44 percent for the same period last year. "We are very pleased with our outstanding performance for the second quarter. Our advertising revenues for the quarter hit another record high of $29.5 million representing a 33% quarter-over-quarter growth, the highest sequential growth rate ever for advertising revenues in Sina's history,” said Charles Chao, CEO of Sina. Sina pointed out that changes to its policies on subscription MVAS will have a significantly negative impact on its MVAS revenues going forward. For the second quarter of 2006, 42 percent of the Company's revenues were derived from MVAS, approximately 67% of which related to monthly subscriptions from China Mobile’s users.