Working Capital Efficiency
The data from Quater 2 in 2020 to Quater 1 in 2021 includes 3 quarters.

Liabilities on Revenue
Year 2020 Quarter 2: Liabilities on Revenue 61.54 (%).Trend:Decrease 65.98% than previous quarter
Year 2020 Quarter 3: Liabilities on Revenue 37.4 (%).Trend:Decrease 39.23% than previous quarter
Year 2021 Quarter 1: Liabilities on Revenue 61.05 (%).Trend:Increase 63.24% than previous quarter

Overall: decreasing (-0.8%). Fluctuation: **Neutral** (moderate variation).

Current assets on Revenue
Year 2020 Quarter 2: Current assets on Revenue 312.02 (%).Trend:Decrease 60.59% than previous quarter
Year 2020 Quarter 3: Current assets on Revenue 253.56 (%).Trend:Decrease 18.74% than previous quarter
Year 2021 Quarter 1: Current assets on Revenue 274.89 (%).Trend:Increase 8.41% than previous quarter

Overall: decreasing (-11.9%). Fluctuation: **Neutral** (moderate variation).


Cost Efficiency
The data from Quater 2 in 2020 to Quater 1 in 2021 includes 3 quarters.

Ratio of Retained Earnings to Revenue
Year 2020 Quarter 2: Ratio of Retained Earnings to Revenue 498.47 (%).Trend:Decrease 56.68% than previous quarter
Year 2020 Quarter 3: Ratio of Retained Earnings to Revenue 353.59 (%).Trend:Decrease 29.06% than previous quarter
Year 2021 Quarter 1: Ratio of Retained Earnings to Revenue 320.02 (%).Trend:Decrease 9.49% than previous quarter

Overall: decreasing (-35.8%). Fluctuation: **Neutral** (moderate variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2020 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 64.85 (%).Trend:Decrease 1.77% than previous quarter
Year 2020 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 69.47 (%).Trend:Increase 7.12% than previous quarter
Year 2021 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 20.04 (%).Trend:Decrease 71.15% than previous quarter

Overall: decreasing (-69.1%). Fluctuation: **Significant** (high variation).


Invest Efficiency
The data from Quater 2 in 2020 to Quater 1 in 2021 includes 3 quarters.

Retained Earning on Assets
Year 2020 Quarter 2: Retained Earning on Assets 48.33 (%).Trend:Decrease 5.12% than previous quarter
Year 2020 Quarter 3: Retained Earning on Assets 47.75 (%).Trend:Decrease 1.2% than previous quarter
Year 2021 Quarter 1: Retained Earning on Assets 45.13 (%).Trend:Decrease 5.49% than previous quarter

Overall: decreasing (-6.62%). Fluctuation: **Little** (low variation).

Earning Per Share


Financial analysis of Q2 2020 to Q1 2021 reveals mixed results. Liabilities on revenue show a decreasing, then increasing trend with moderate variation. Current assets on revenue are consistently decreasing with moderate variation. Cost efficiency shows a significant decrease in the ratio of retained earnings to revenue with moderate variation.  Selling, general, and administrative expense ratio shows a significant decrease with high variation. Investment efficiency displays a decreasing trend in retained earnings on assets with low variation.