Working Capital Efficiency
The data from Quater 2 in 2019 to Quater 1 in 2020 includes 3 quarters.

Liabilities on Revenue
Year 2019 Quarter 2: Liabilities on Revenue 16.79 (%).Trend:Increase 0% than previous quarter
Year 2019 Quarter 3: Liabilities on Revenue 11.32 (%).Trend:Decrease 32.58% than previous quarter
Year 2020 Quarter 1: Liabilities on Revenue 40.09 (%).Trend:Increase 254.15% than previous quarter

Overall: increasing (138.77%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2019 Quarter 2: Current assets on Revenue 33.7 (%).Trend:Increase 0% than previous quarter
Year 2019 Quarter 3: Current assets on Revenue 29.54 (%).Trend:Decrease 12.34% than previous quarter
Year 2020 Quarter 1: Current assets on Revenue 93.16 (%).Trend:Increase 215.37% than previous quarter

Overall: increasing (176.44%). Fluctuation: **Significant** (high variation).


Cost Efficiency
The data from Quater 2 in 2019 to Quater 1 in 2020 includes 3 quarters.

Ratio of Retained Earnings to Revenue
Year 2019 Quarter 2: Ratio of Retained Earnings to Revenue 22.36 (%).Trend:Increase 0% than previous quarter
Year 2019 Quarter 3: Ratio of Retained Earnings to Revenue 16.32 (%).Trend:Decrease 27.01% than previous quarter
Year 2020 Quarter 1: Ratio of Retained Earnings to Revenue 52.43 (%).Trend:Increase 221.26% than previous quarter

Overall: increasing (134.48%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2019 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 5.78 (%).Trend:Increase 0% than previous quarter
Year 2019 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 5.84 (%).Trend:Increase 1.04% than previous quarter
Year 2020 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 6.09 (%).Trend:Increase 4.28% than previous quarter

Overall: increasing (5.36%). Fluctuation: **Little** (low variation).


Invest Efficiency
The data from Quater 2 in 2019 to Quater 1 in 2020 includes 3 quarters.

Retained Earning on Assets
Year 2019 Quarter 2: Retained Earning on Assets 20.52 (%).Trend:Increase 0% than previous quarter
Year 2019 Quarter 3: Retained Earning on Assets 20.1 (%).Trend:Decrease 2.05% than previous quarter
Year 2020 Quarter 1: Retained Earning on Assets 20.3 (%).Trend:Increase 1.0% than previous quarter

Overall: decreasing (-1.07%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2019 Quarter 2: Earning Per Share 2.09 (USD).Trend:Increase 0% than previous quarter
Year 2019 Quarter 3: Earning Per Share 3.02 (USD).Trend:Increase 44.5% than previous quarter
Year 2020 Quarter 1: Earning Per Share 0.92 (USD).Trend:Decrease 69.54% than previous quarter

Overall: decreasing (-55.98%). Fluctuation: **Significant** (high variation).



Financial analysis of Q2 2019 to Q1 2020 reveals substantial volatility in several key metrics. Liabilities and current assets on revenue, and the ratio of retained earnings to revenue, all demonstrate significant increases, but with very large quarterly variation.  SG&A expense ratio shows little variation, while investment efficiency (retained earnings on assets) demonstrates a slight decrease. Earnings per share demonstrate a significant decrease in Q1 2020, after increasing in Q2 and Q3 2019.