Working Capital Efficiency
The data from Quater 3 in 2019 to Quater 2 in 2020 includes 3 quarters.

Liabilities on Revenue
Year 2019 Quarter 3: Liabilities on Revenue 25.87 (%).Trend:Decrease 44.53% than previous quarter
Year 2020 Quarter 1: Liabilities on Revenue 71.73 (%).Trend:Increase 177.27% than previous quarter
Year 2020 Quarter 2: Liabilities on Revenue 30.24 (%).Trend:Decrease 57.84% than previous quarter

Overall: increasing (16.89%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2019 Quarter 3: Current assets on Revenue 62.1 (%).Trend:Decrease 38.19% than previous quarter
Year 2020 Quarter 1: Current assets on Revenue 203.54 (%).Trend:Increase 227.76% than previous quarter
Year 2020 Quarter 2: Current assets on Revenue 95.54 (%).Trend:Decrease 53.06% than previous quarter

Overall: increasing (53.85%). Fluctuation: **Significant** (high variation).


Cost Efficiency
The data from Quater 3 in 2019 to Quater 2 in 2020 includes 3 quarters.

Ratio of Retained Earnings to Revenue
Year 2019 Quarter 3: Ratio of Retained Earnings to Revenue 70.37 (%).Trend:Decrease 32.49% than previous quarter
Year 2020 Quarter 1: Ratio of Retained Earnings to Revenue 261.96 (%).Trend:Increase 272.26% than previous quarter
Year 2020 Quarter 2: Ratio of Retained Earnings to Revenue 124.46 (%).Trend:Decrease 52.49% than previous quarter

Overall: increasing (76.87%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2019 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 22.78 (%).Trend:Decrease 3.23% than previous quarter
Year 2020 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 28.34 (%).Trend:Increase 24.41% than previous quarter
Year 2020 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 25.73 (%).Trend:Decrease 9.21% than previous quarter

Overall: increasing (12.95%). Fluctuation: **Neutral** (moderate variation).


Invest Efficiency
The data from Quater 3 in 2019 to Quater 2 in 2020 includes 3 quarters.

Retained Earning on Assets
Year 2019 Quarter 3: Retained Earning on Assets 56.58 (%).Trend:Increase 6.67% than previous quarter
Year 2020 Quarter 1: Retained Earning on Assets 60.8 (%).Trend:Increase 7.46% than previous quarter
Year 2020 Quarter 2: Retained Earning on Assets 62.16 (%).Trend:Increase 2.24% than previous quarter

Overall: increasing (9.86%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2019 Quarter 3: Earning Per Share 1.62 (USD).Trend:Increase 82.02% than previous quarter
Year 2020 Quarter 1: Earning Per Share 0.23 (USD).Trend:Decrease 85.8% than previous quarter
Year 2020 Quarter 2: Earning Per Share 0.76 (USD).Trend:Increase 230.43% than previous quarter

Overall: decreasing (-53.09%). Fluctuation: **Significant** (high variation).



Financial performance from Q3 2019 to Q2 2020 displays considerable fluctuations. Working capital efficiency, measured by liabilities and current assets on revenue, increased with significant variation, while cost efficiency (ratio of retained earnings to revenue) also increased dramatically but with substantial swings. SG&A expense ratio showed a moderate increase.  Investment efficiency displays a steady increase.  Earnings per share, however, dropped substantially in Q1 2020.