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 40.3 (%).Trend:Decrease 29.66% than previous quarter
Year 2021 Quarter 1: Liabilities on Revenue 111.32 (%).Trend:Increase 176.23% than previous quarter
Year 2021 Quarter 2: Liabilities on Revenue 55.58 (%).Trend:Decrease 50.07% than previous quarter

Overall: increasing (37.92%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2020 Quarter 3: Current assets on Revenue 84.97 (%).Trend:Decrease 30.76% than previous quarter
Year 2021 Quarter 1: Current assets on Revenue 314.72 (%).Trend:Increase 270.39% than previous quarter
Year 2021 Quarter 2: Current assets on Revenue 152.52 (%).Trend:Decrease 51.54% than previous quarter

Overall: increasing (79.5%). 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 -87.43 (%).Trend:Increase 115.24% than previous quarter
Year 2021 Quarter 1: Ratio of Retained Earnings to Revenue -231.7 (%).Trend:Increase 165.01% than previous quarter
Year 2021 Quarter 2: Ratio of Retained Earnings to Revenue -107.55 (%).Trend:Decrease 53.58% than previous quarter

Overall: decreasing (23.01%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2020 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 18.85 (%).Trend:Increase 10.36% than previous quarter
Year 2021 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 17.36 (%).Trend:Decrease 7.9% than previous quarter
Year 2021 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 15.83 (%).Trend:Decrease 8.81% than previous quarter

Overall: decreasing (-16.02%). Fluctuation: **Little** (low 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 -52.46 (%).Trend:Increase 212.08% than previous quarter
Year 2021 Quarter 1: Retained Earning on Assets -41.24 (%).Trend:Decrease 21.39% than previous quarter
Year 2021 Quarter 2: Retained Earning on Assets -38.98 (%).Trend:Decrease 5.48% than previous quarter

Overall: increasing (-25.7%). Fluctuation: **Significant** (high variation).

Earning Per Share


Financial analysis from Q3 2020 to Q2 2021 reveals mixed trends. Working capital efficiency, with significant fluctuation in both liabilities and current assets on revenue, shows an overall increasing trend. Cost efficiency indicates a decreasing trend in the ratio of retained earnings to revenue, though with notable variation. The selling, general, and administrative (SG&A) expense ratio shows a small overall decrease with minor fluctuations.  Investment efficiency, measured by retained earnings on assets, displays a significant, but overall increasing, trend.