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 101.9 (%).Trend:Increase 121.14% than previous quarter
Year 2021 Quarter 2: Liabilities on Revenue 52.18 (%).Trend:Decrease 48.79% than previous quarter
Year 2021 Quarter 3: Liabilities on Revenue 34.88 (%).Trend:Decrease 33.15% than previous quarter

Overall: decreasing (-65.77%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2021 Quarter 1: Current assets on Revenue 156.45 (%).Trend:Increase 190.42% than previous quarter
Year 2021 Quarter 2: Current assets on Revenue 81.35 (%).Trend:Decrease 48.0% than previous quarter
Year 2021 Quarter 3: Current assets on Revenue 57.08 (%).Trend:Decrease 29.83% than previous quarter

Overall: decreasing (-63.52%). 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 8.74 (%).Trend:Increase 1842.22% than previous quarter
Year 2021 Quarter 2: Ratio of Retained Earnings to Revenue 6.28 (%).Trend:Decrease 28.15% than previous quarter
Year 2021 Quarter 3: Ratio of Retained Earnings to Revenue 5.69 (%).Trend:Decrease 9.39% than previous quarter

Overall: decreasing (-34.9%). Fluctuation: **Neutral** (moderate variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2021 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 16.77 (%).Trend:Decrease 18.12% than previous quarter
Year 2021 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 15.71 (%).Trend:Decrease 6.32% than previous quarter
Year 2021 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 15.57 (%).Trend:Decrease 0.89% than previous quarter

Overall: decreasing (-7.16%). 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 2.22 (%).Trend:Increase 640.0% than previous quarter
Year 2021 Quarter 2: Retained Earning on Assets 3.19 (%).Trend:Increase 43.69% than previous quarter
Year 2021 Quarter 3: Retained Earning on Assets 4.29 (%).Trend:Increase 34.48% than previous quarter

Overall: increasing (93.24%). Fluctuation: **Significant** (high variation).

Earning Per Share
Year 2021 Quarter 1: Earning Per Share 0.34 (USD).Trend:Decrease 288.89% than previous quarter
Year 2021 Quarter 2: Earning Per Share 0.74 (USD).Trend:Increase 117.65% than previous quarter
Year 2021 Quarter 3: Earning Per Share 1.22 (USD).Trend:Increase 64.86% than previous quarter

Overall: increasing (258.82%). Fluctuation: **Significant** (high variation).



Financial analysis reveals mixed results. Working capital efficiency exhibits substantial decline in both liabilities and current assets on revenue. Cost efficiency shows a slight decline in SG&A expense, with moderate fluctuations in the ratio of retained earnings to revenue.  Investment efficiency suggests a significant increase in retained earnings on assets, with substantial fluctuations. Earnings per share show a substantial increase over the three quarters.  The considerable volatility demands a deeper dive into the driving factors.