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 85.79 (%).Trend:Decrease 66.34% than previous quarter
Year 2020 Quarter 3: Liabilities on Revenue 43.7 (%).Trend:Decrease 49.06% than previous quarter
Year 2021 Quarter 1: Liabilities on Revenue 97.47 (%).Trend:Increase 123.04% than previous quarter

Overall: increasing (13.61%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2020 Quarter 2: Current assets on Revenue 141.88 (%).Trend:Decrease 50.21% than previous quarter
Year 2020 Quarter 3: Current assets on Revenue 81.31 (%).Trend:Decrease 42.69% than previous quarter
Year 2021 Quarter 1: Current assets on Revenue 205.05 (%).Trend:Increase 152.18% than previous quarter

Overall: increasing (44.52%). Fluctuation: **Significant** (high 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 159.6 (%).Trend:Decrease 44.71% than previous quarter
Year 2020 Quarter 3: Ratio of Retained Earnings to Revenue 99.29 (%).Trend:Decrease 37.79% than previous quarter
Year 2021 Quarter 1: Ratio of Retained Earnings to Revenue 219.91 (%).Trend:Increase 121.48% than previous quarter

Overall: increasing (37.79%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2020 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 38.01 (%).Trend:Increase 6.98% than previous quarter
Year 2020 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 35.68 (%).Trend:Decrease 6.13% than previous quarter
Year 2021 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 34.15 (%).Trend:Decrease 4.29% than previous quarter

Overall: decreasing (-10.16%). Fluctuation: **Little** (low 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 48.59 (%).Trend:Increase 5.52% than previous quarter
Year 2020 Quarter 3: Retained Earning on Assets 50.87 (%).Trend:Increase 4.69% than previous quarter
Year 2021 Quarter 1: Retained Earning on Assets 49.53 (%).Trend:Decrease 2.63% than previous quarter

Overall: increasing (1.93%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2020 Quarter 2: Earning Per Share 0.14 (USD).Trend:Decrease 12.5% than previous quarter
Year 2020 Quarter 3: Earning Per Share 0.41 (USD).Trend:Increase 192.86% than previous quarter
Year 2021 Quarter 1: Earning Per Share 0.46 (USD).Trend:Increase 12.2% than previous quarter

Overall: increasing (228.57%). Fluctuation: **Significant** (high variation).



Financial performance analysis reveals significant quarter-to-quarter variations across various metrics.  Working capital efficiency fluctuates greatly, with liabilities on revenue increasing overall (though with large swings) and current assets also exhibiting significant increases.  Cost efficiency demonstrates a steady decrease in SG&A expense ratios, contrasting with the substantial increases and decreases in retained earnings to revenue ratio. Investment efficiency shows a slight overall increase in retained earnings on assets, with minimal volatility. Earnings per share exhibit substantial growth but with high variation between quarters.