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 49.28 (%).Trend:Decrease 30.19% than previous quarter
Year 2020 Quarter 1: Liabilities on Revenue 205.99 (%).Trend:Increase 318.0% than previous quarter
Year 2020 Quarter 2: Liabilities on Revenue 128.55 (%).Trend:Decrease 37.59% than previous quarter

Overall: increasing (160.86%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2019 Quarter 3: Current assets on Revenue 50.83 (%).Trend:Decrease 30.91% than previous quarter
Year 2020 Quarter 1: Current assets on Revenue 272.38 (%).Trend:Increase 435.86% than previous quarter
Year 2020 Quarter 2: Current assets on Revenue 127.0 (%).Trend:Decrease 53.37% than previous quarter

Overall: increasing (149.85%). 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 105.96 (%).Trend:Decrease 33.97% than previous quarter
Year 2020 Quarter 1: Ratio of Retained Earnings to Revenue 258.43 (%).Trend:Increase 143.89% than previous quarter
Year 2020 Quarter 2: Ratio of Retained Earnings to Revenue 130.58 (%).Trend:Decrease 49.47% than previous quarter

Overall: increasing (23.24%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2019 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 7.29 (%).Trend:Increase 17.2% than previous quarter
Year 2020 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 4.89 (%).Trend:Decrease 32.92% than previous quarter
Year 2020 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 6.45 (%).Trend:Increase 31.9% than previous quarter

Overall: decreasing (-11.52%). 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 15.46 (%).Trend:Decrease 9.17% than previous quarter
Year 2020 Quarter 1: Retained Earning on Assets 9.92 (%).Trend:Decrease 35.83% than previous quarter
Year 2020 Quarter 2: Retained Earning on Assets 8.8 (%).Trend:Decrease 11.29% than previous quarter

Overall: decreasing (-43.08%). Fluctuation: **Significant** (high variation).

Earning Per Share


Financial analysis of three quarters (Q3 2019 to Q2 2020) shows significant fluctuations in key financial metrics. Liabilities and current assets on revenue demonstrate substantial increases, albeit with high volatility.  The ratio of retained earnings to revenue also exhibits an upward trend but significant quarter-to-quarter fluctuations. SG&A expense ratio shows a downward trend, contrasting with the increasing liabilities and asset trends. Investment efficiency, measured by retained earnings on assets, demonstrates a substantial overall decrease with substantial quarterly swings.