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

Liabilities on Revenue
Year 2021 Quarter 1: Liabilities on Revenue 1728.26 (%).Trend:Increase 26.64% than previous quarter
Year 2021 Quarter 2: Liabilities on Revenue 803.61 (%).Trend:Decrease 53.5% than previous quarter
Year 2021 Quarter 3: Liabilities on Revenue 523.01 (%).Trend:Decrease 34.92% than previous quarter

Overall: decreasing (-69.74%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2021 Quarter 1: Current assets on Revenue 2796.07 (%).Trend:Increase 86.0% than previous quarter
Year 2021 Quarter 2: Current assets on Revenue 1257.31 (%).Trend:Decrease 55.03% than previous quarter
Year 2021 Quarter 3: Current assets on Revenue 793.14 (%).Trend:Decrease 36.92% than previous quarter

Overall: decreasing (-71.63%). Fluctuation: **Significant** (high variation).


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

Ratio of Retained Earnings to Revenue
Year 2021 Quarter 1: Ratio of Retained Earnings to Revenue -2029.91 (%).Trend:Increase 205.38% than previous quarter
Year 2021 Quarter 2: Ratio of Retained Earnings to Revenue -1007.26 (%).Trend:Decrease 50.38% than previous quarter
Year 2021 Quarter 3: Ratio of Retained Earnings to Revenue -672.76 (%).Trend:Decrease 33.21% than previous quarter

Overall: increasing (-66.86%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2021 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 65.89 (%).Trend:Decrease 38.06% than previous quarter
Year 2021 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 68.42 (%).Trend:Increase 3.84% than previous quarter
Year 2021 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 67.11 (%).Trend:Decrease 1.91% than previous quarter

Overall: increasing (1.85%). Fluctuation: **Little** (low variation).


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

Retained Earning on Assets
Year 2021 Quarter 1: Retained Earning on Assets -40.72 (%).Trend:Increase 57.83% than previous quarter
Year 2021 Quarter 2: Retained Earning on Assets -43.94 (%).Trend:Increase 7.91% than previous quarter
Year 2021 Quarter 3: Retained Earning on Assets -46.3 (%).Trend:Increase 5.37% than previous quarter

Overall: decreasing (13.7%). Fluctuation: **Significant** (high variation).

Earning Per Share
Year 2021 Quarter 1: Earning Per Share 0.82 (USD).Trend:Decrease 111.33% than previous quarter
Year 2021 Quarter 2: Earning Per Share 0.45 (USD).Trend:Decrease 45.12% than previous quarter
Year 2021 Quarter 3: Earning Per Share 0.38 (USD).Trend:Decrease 15.56% than previous quarter

Overall: decreasing (-53.66%). Fluctuation: **Significant** (high variation).



Financial analysis for Q1 to Q3 2021 reveals ongoing instability. Liabilities and current assets on revenue display significant fluctuations, suggesting short-term financial instability. The ratio of retained earnings to revenue, despite showing a trend of decline, continues to demonstrate significant fluctuation.  Selling, general, and administrative (SG&A) expense ratio remains relatively stable. Investment efficiency, as measured by retained earnings on assets and earnings per share, continues a downward trend with high variability.  A deeper analysis is necessary to identify the cause of the persistent instability.