On July 30, Moso Power Supply announces the financial results for the first half year of 2012. During the report period, Moso Power Supply achieves total revenues of RMB 240.4354m, down 16.95% from the same period last year. Its total profit reaches RMB 35.2270m, a year-on-year rise of 6.48%, and net profit for shareholders amounts to RMB 29.6090m, an increase of 7.11% from a year earlier.
 
For the drop of 16.95% in total revenues, Moso attributed it to the international financial crisis, the European debt crisis and the weak international market demand, which led to the year-on-year fall in business revenues of consumer power supply. The good news is that the current revenue of LED driving power remains growing as expected.
 
For the rise of 7.11% in net profit, Moso Power Supply summed up the following main reasons. Firstly, the change of sales structure for main business products resulted in the year-on-year rise of gross profit margin. Secondly, the company paid back the band loan with the raised fund after being listed, which reduced the interest expense in current period and increased the interest income on band deposits. Thirdly, the company received the award for being listed from the government and deferred income.