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 48.43 (%).Trend:Decrease 39.69% than previous quarter
Year 2020 Quarter 3: Liabilities on Revenue 32.63 (%).Trend:Decrease 32.62% than previous quarter
Year 2021 Quarter 1: Liabilities on Revenue 80.35 (%).Trend:Increase 146.25% than previous quarter

Overall: increasing (65.91%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2020 Quarter 2: Current assets on Revenue 73.81 (%).Trend:Decrease 44.07% than previous quarter
Year 2020 Quarter 3: Current assets on Revenue 49.61 (%).Trend:Decrease 32.79% than previous quarter
Year 2021 Quarter 1: Current assets on Revenue 137.77 (%).Trend:Increase 177.71% than previous quarter

Overall: increasing (86.65%). 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 25.78 (%).Trend:Decrease 50.22% than previous quarter
Year 2020 Quarter 3: Ratio of Retained Earnings to Revenue 16.9 (%).Trend:Decrease 34.45% than previous quarter
Year 2021 Quarter 1: Ratio of Retained Earnings to Revenue 18.32 (%).Trend:Increase 8.4% than previous quarter

Overall: decreasing (-28.94%). Fluctuation: **Neutral** (moderate variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2020 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 9.41 (%).Trend:Decrease 2.79% than previous quarter
Year 2020 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 8.78 (%).Trend:Decrease 6.7% than previous quarter
Year 2021 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 3.3 (%).Trend:Decrease 62.41% than previous quarter

Overall: decreasing (-64.93%). 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 22.02 (%).Trend:Decrease 5.29% than previous quarter
Year 2020 Quarter 3: Retained Earning on Assets 22.0 (%).Trend:Decrease 0.09% than previous quarter
Year 2021 Quarter 1: Retained Earning on Assets 11.71 (%).Trend:Decrease 46.77% than previous quarter

Overall: decreasing (-46.82%). Fluctuation: **Significant** (high variation).

Earning Per Share
Year 2020 Quarter 2: Earning Per Share 3.49 (USD).Trend:Increase 46.64% than previous quarter
Year 2020 Quarter 3: Earning Per Share 6.1 (USD).Trend:Increase 74.79% than previous quarter
Year 2021 Quarter 1: Earning Per Share 1.7 (USD).Trend:Decrease 72.13% than previous quarter

Overall: decreasing (-51.29%). Fluctuation: **Significant** (high variation).



Financial statements for Q2 2020 to Q1 2021 show a significant increase in working capital efficiency (liabilities on revenue and current assets on revenue).  However, cost efficiency (ratio of retained earnings to revenue) is decreasing moderately. SG&A expenses are also trending downward significantly.  Investment efficiency is markedly decreasing, and earnings per share also show a substantial and fluctuating decrease.