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 35.7 (%).Trend:Decrease 43.95% than previous quarter
Year 2019 Quarter 3: Liabilities on Revenue 25.49 (%).Trend:Decrease 28.6% than previous quarter
Year 2020 Quarter 1: Liabilities on Revenue 83.24 (%).Trend:Increase 226.56% than previous quarter

Overall: increasing (133.17%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2019 Quarter 2: Current assets on Revenue 96.77 (%).Trend:Decrease 48.43% than previous quarter
Year 2019 Quarter 3: Current assets on Revenue 66.64 (%).Trend:Decrease 31.14% than previous quarter
Year 2020 Quarter 1: Current assets on Revenue 209.79 (%).Trend:Increase 214.81% than previous quarter

Overall: increasing (116.79%). 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 149.72 (%).Trend:Decrease 49.44% than previous quarter
Year 2019 Quarter 3: Ratio of Retained Earnings to Revenue 101.75 (%).Trend:Decrease 32.04% than previous quarter
Year 2020 Quarter 1: Ratio of Retained Earnings to Revenue 322.06 (%).Trend:Increase 216.52% than previous quarter

Overall: increasing (115.11%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2019 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 16.28 (%).Trend:Increase 2.39% than previous quarter
Year 2019 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 16.27 (%).Trend:Decrease 0.06% than previous quarter
Year 2020 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 17.7 (%).Trend:Increase 8.79% than previous quarter

Overall: increasing (8.72%). 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 76.91 (%).Trend:Decrease 0.7% than previous quarter
Year 2019 Quarter 3: Retained Earning on Assets 77.78 (%).Trend:Increase 1.13% than previous quarter
Year 2020 Quarter 1: Retained Earning on Assets 78.74 (%).Trend:Increase 1.23% than previous quarter

Overall: increasing (2.38%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2019 Quarter 2: Earning Per Share 3.57 (USD).Trend:Increase 257.0% than previous quarter
Year 2019 Quarter 3: Earning Per Share 5.43 (USD).Trend:Increase 52.1% than previous quarter
Year 2020 Quarter 1: Earning Per Share 2.0 (USD).Trend:Decrease 63.17% than previous quarter

Overall: decreasing (-43.98%). Fluctuation: **Significant** (high variation).



Working capital efficiency shows significant fluctuation. Liabilities on revenue increased substantially in Q1 2020, then decreased in Q2 and Q3 2019 before increasing again in Q1 2020.  Current assets on revenue also show significant fluctuation, with substantial increases and decreases across the three quarters. Cost efficiency shows significant fluctuation in the ratio of retained earnings to revenue, with large increases and decreases. The SG&A expense ratio shows little fluctuation, increasing slightly overall. Investment efficiency (retained earnings on assets) shows little fluctuation, increasing steadily. Earning per share shows significant fluctuation, increasing substantially in Q3 2019, decreasing drastically in Q1 2020.