Working Capital Efficiency
The data from Quater 3 in 2020 to Quater 2 in 2021 includes 3 quarters.

Liabilities on Revenue
Year 2020 Quarter 3: Liabilities on Revenue 22.03 (%).Trend:Decrease 30.13% than previous quarter
Year 2021 Quarter 1: Liabilities on Revenue 52.86 (%).Trend:Increase 139.95% than previous quarter
Year 2021 Quarter 2: Liabilities on Revenue 29.92 (%).Trend:Decrease 43.4% than previous quarter

Overall: increasing (35.81%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2020 Quarter 3: Current assets on Revenue 26.87 (%).Trend:Decrease 31.66% than previous quarter
Year 2021 Quarter 1: Current assets on Revenue 66.67 (%).Trend:Increase 148.12% than previous quarter
Year 2021 Quarter 2: Current assets on Revenue 32.45 (%).Trend:Decrease 51.33% than previous quarter

Overall: increasing (20.77%). Fluctuation: **Significant** (high variation).


Cost Efficiency
The data from Quater 3 in 2020 to Quater 2 in 2021 includes 3 quarters.

Ratio of Retained Earnings to Revenue
Year 2020 Quarter 3: Ratio of Retained Earnings to Revenue 36.54 (%).Trend:Decrease 37.65% than previous quarter
Year 2021 Quarter 1: Ratio of Retained Earnings to Revenue 71.43 (%).Trend:Increase 95.48% than previous quarter
Year 2021 Quarter 2: Ratio of Retained Earnings to Revenue 31.56 (%).Trend:Decrease 55.82% than previous quarter

Overall: decreasing (-13.63%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2020 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 2.33 (%).Trend:Increase 1.75% than previous quarter
Year 2021 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 1.89 (%).Trend:Decrease 18.88% than previous quarter
Year 2021 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 1.73 (%).Trend:Decrease 8.47% than previous quarter

Overall: decreasing (-25.75%). Fluctuation: **Neutral** (moderate variation).


Invest Efficiency
The data from Quater 3 in 2020 to Quater 2 in 2021 includes 3 quarters.

Retained Earning on Assets
Year 2020 Quarter 3: Retained Earning on Assets 32.12 (%).Trend:Decrease 6.0% than previous quarter
Year 2021 Quarter 1: Retained Earning on Assets 27.84 (%).Trend:Decrease 13.33% than previous quarter
Year 2021 Quarter 2: Retained Earning on Assets 26.93 (%).Trend:Decrease 3.27% than previous quarter

Overall: decreasing (-16.16%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2020 Quarter 3: Earning Per Share -7.83 (USD).Trend:Increase 30.5% than previous quarter
Year 2021 Quarter 1: Earning Per Share -1.49 (USD).Trend:Decrease 80.97% than previous quarter
Year 2021 Quarter 2: Earning Per Share -0.83 (USD).Trend:Decrease 44.3% than previous quarter

Overall: increasing (-89.4%). Fluctuation: **Significant** (high variation).



Financial statements from Q3 2020 to Q2 2021 show a mixed picture. Working capital efficiency is showing an overall increase, with liabilities on revenue increasing significantly and current assets also increasing.  Cost efficiency, as measured by the ratio of retained earnings to revenue, is showing significant fluctuation but a slight overall decrease. SG&A expense ratio is decreasing slightly.  Invest efficiency shows a small decrease in retained earnings on assets. Earning per share shows a considerable increase, fluctuating significantly throughout the period.