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 15.81 (%).Trend:Decrease 39.54% than previous quarter
Year 2021 Quarter 1: Liabilities on Revenue 50.55 (%).Trend:Increase 219.73% than previous quarter
Year 2021 Quarter 2: Liabilities on Revenue 20.54 (%).Trend:Decrease 59.37% than previous quarter

Overall: increasing (29.92%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2020 Quarter 3: Current assets on Revenue 30.36 (%).Trend:Decrease 32.53% than previous quarter
Year 2021 Quarter 1: Current assets on Revenue 115.89 (%).Trend:Increase 281.72% than previous quarter
Year 2021 Quarter 2: Current assets on Revenue 66.11 (%).Trend:Decrease 42.95% than previous quarter

Overall: increasing (117.75%). 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 32.42 (%).Trend:Decrease 13.41% than previous quarter
Year 2021 Quarter 1: Ratio of Retained Earnings to Revenue 145.01 (%).Trend:Increase 347.29% than previous quarter
Year 2021 Quarter 2: Ratio of Retained Earnings to Revenue 88.16 (%).Trend:Decrease 39.2% than previous quarter

Overall: increasing (171.93%). Fluctuation: **Significant** (high variation).

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

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 58.82 (%).Trend:Increase 31.65% than previous quarter
Year 2021 Quarter 1: Retained Earning on Assets 80.83 (%).Trend:Increase 37.42% than previous quarter
Year 2021 Quarter 2: Retained Earning on Assets 88.15 (%).Trend:Increase 9.06% than previous quarter

Overall: increasing (49.86%). Fluctuation: **Neutral** (moderate variation).

Earning Per Share
Year 2020 Quarter 3: Earning Per Share 2.94 (USD).Trend:Increase 62.43% than previous quarter
Year 2021 Quarter 1: Earning Per Share 1.59 (USD).Trend:Decrease 45.92% than previous quarter
Year 2021 Quarter 2: Earning Per Share 2.65 (USD).Trend:Increase 66.67% than previous quarter

Overall: decreasing (-9.86%). Fluctuation: **Significant** (high variation).



Financial statements from Q3 2020 to Q2 2021 show high volatility. Liabilities and current assets on revenue exhibit significant fluctuations, with large increases and decreases across the quarters. Cost efficiency, measured by the retained earnings to revenue ratio, shows similarly substantial variations, indicating significant instability in revenue generation and asset management. Investment efficiency, however, displays a more consistent upward trend. Earnings per share demonstrate a net decrease, but with pronounced oscillations.  The data strongly suggests instability and the need for further examination of the underlying drivers of this volatility.