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 79.56 (%).Trend:Increase 424.8% than previous quarter
Year 2021 Quarter 2: Liabilities on Revenue 41.44 (%).Trend:Decrease 47.91% than previous quarter
Year 2021 Quarter 3: Liabilities on Revenue 30.56 (%).Trend:Decrease 26.25% than previous quarter

Overall: decreasing (-61.59%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2021 Quarter 1: Current assets on Revenue 109.28 (%).Trend:Increase 341.71% than previous quarter
Year 2021 Quarter 2: Current assets on Revenue 57.39 (%).Trend:Decrease 47.48% than previous quarter
Year 2021 Quarter 3: Current assets on Revenue 38.66 (%).Trend:Decrease 32.64% than previous quarter

Overall: decreasing (-64.62%). 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 9.4 (%).Trend:Decrease 25.1% than previous quarter
Year 2021 Quarter 2: Ratio of Retained Earnings to Revenue 1.76 (%).Trend:Decrease 81.28% than previous quarter
Year 2021 Quarter 3: Ratio of Retained Earnings to Revenue 0.25 (%).Trend:Decrease 85.8% than previous quarter

Overall: decreasing (-97.34%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio

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 1.45 (%).Trend:Decrease 80.06% than previous quarter
Year 2021 Quarter 2: Retained Earning on Assets 0.63 (%).Trend:Decrease 56.55% than previous quarter
Year 2021 Quarter 3: Retained Earning on Assets 0.15 (%).Trend:Decrease 76.19% than previous quarter

Overall: decreasing (-89.66%). Fluctuation: **Significant** (high variation).

Earning Per Share
Year 2021 Quarter 1: Earning Per Share -0.2 (USD).Trend:Decrease 67.74% than previous quarter
Year 2021 Quarter 2: Earning Per Share -0.28 (USD).Trend:Increase 40.0% than previous quarter
Year 2021 Quarter 3: Earning Per Share -0.33 (USD).Trend:Increase 17.86% than previous quarter

Overall: decreasing (65.0%). Fluctuation: **Significant** (high variation).



Financial analysis of Q1 2021 to Q3 2021 indicates significant instability and declining financial performance. Liabilities and current assets on revenue decreased, but with major fluctuations.  The ratio of retained earnings to revenue declined significantly and erratically.  Invest efficiency, measured by retained earnings on assets, and earnings per share also decreased considerably, exhibiting significant volatility.  The overall picture suggests a serious financial downturn.