Working Capital Efficiency
The data from Quater 2 in 2019 to Quater 1 in 2020 includes 3 quarters.

Liabilities on Revenue
Year 2019 Quarter 2: Liabilities on Revenue 23.99 (%).Trend:Increase 0% than previous quarter
Year 2019 Quarter 3: Liabilities on Revenue 15.66 (%).Trend:Decrease 34.72% than previous quarter
Year 2020 Quarter 1: Liabilities on Revenue 48.07 (%).Trend:Increase 206.96% than previous quarter

Overall: increasing (100.38%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2019 Quarter 2: Current assets on Revenue 40.56 (%).Trend:Increase 0% than previous quarter
Year 2019 Quarter 3: Current assets on Revenue 25.92 (%).Trend:Decrease 36.09% than previous quarter
Year 2020 Quarter 1: Current assets on Revenue 89.81 (%).Trend:Increase 246.49% than previous quarter

Overall: increasing (121.43%). Fluctuation: **Significant** (high variation).


Cost Efficiency
The data from Quater 2 in 2019 to Quater 1 in 2020 includes 3 quarters.

Ratio of Retained Earnings to Revenue
Year 2019 Quarter 2: Ratio of Retained Earnings to Revenue 3.88 (%).Trend:Increase 0% than previous quarter
Year 2019 Quarter 3: Ratio of Retained Earnings to Revenue 3.76 (%).Trend:Decrease 3.09% than previous quarter
Year 2020 Quarter 1: Ratio of Retained Earnings to Revenue 14.42 (%).Trend:Increase 283.51% than previous quarter

Overall: increasing (271.65%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2019 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 21.82 (%).Trend:Increase 0% than previous quarter
Year 2019 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 21.45 (%).Trend:Decrease 1.7% than previous quarter
Year 2020 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 22.63 (%).Trend:Increase 5.5% than previous quarter

Overall: increasing (3.71%). Fluctuation: **Little** (low variation).


Invest Efficiency
The data from Quater 2 in 2019 to Quater 1 in 2020 includes 3 quarters.

Retained Earning on Assets
Year 2019 Quarter 2: Retained Earning on Assets 4.22 (%).Trend:Increase 0% than previous quarter
Year 2019 Quarter 3: Retained Earning on Assets 6.29 (%).Trend:Increase 49.05% than previous quarter
Year 2020 Quarter 1: Retained Earning on Assets 7.23 (%).Trend:Increase 14.94% than previous quarter

Overall: increasing (71.33%). Fluctuation: **Significant** (high variation).

Earning Per Share
Year 2019 Quarter 2: Earning Per Share 0.89 (USD).Trend:Increase 0% than previous quarter
Year 2019 Quarter 3: Earning Per Share 1.56 (USD).Trend:Increase 75.28% than previous quarter
Year 2020 Quarter 1: Earning Per Share 0.08 (USD).Trend:Decrease 94.87% than previous quarter

Overall: decreasing (-91.01%). Fluctuation: **Significant** (high variation).



Financial analysis of Q2 2019 to Q1 2020 reveals significant volatility. Working capital efficiency shows substantial increases in both liabilities on revenue (100.38%) and current assets on revenue (121.43%), highlighting significant fluctuation. Cost efficiency displays a large increase in the ratio of retained earnings to revenue (271.65%), but a modest increase in SG&A expense ratio (3.71%). Investment efficiency also demonstrates significant variation, with an overall increase in retained earnings on assets (71.33%), whereas earning per share saw a significant decrease (-91.01%).  This indicates a period of substantial transformation in financial performance with considerable instability.