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 77.22 (%).Trend:Increase 285.91% than previous quarter
Year 2021 Quarter 2: Liabilities on Revenue 32.06 (%).Trend:Decrease 58.48% than previous quarter
Year 2021 Quarter 3: Liabilities on Revenue 20.23 (%).Trend:Decrease 36.9% than previous quarter

Overall: decreasing (-73.8%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2021 Quarter 1: Current assets on Revenue 160.04 (%).Trend:Increase 191.14% than previous quarter
Year 2021 Quarter 2: Current assets on Revenue 68.03 (%).Trend:Decrease 57.49% than previous quarter
Year 2021 Quarter 3: Current assets on Revenue 47.01 (%).Trend:Decrease 30.9% than previous quarter

Overall: decreasing (-70.63%). 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 40.99 (%).Trend:Increase 235.98% than previous quarter
Year 2021 Quarter 2: Ratio of Retained Earnings to Revenue 22.49 (%).Trend:Decrease 45.13% than previous quarter
Year 2021 Quarter 3: Ratio of Retained Earnings to Revenue 17.6 (%).Trend:Decrease 21.74% than previous quarter

Overall: decreasing (-57.06%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2021 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 29.58 (%).Trend:Increase 14.25% than previous quarter
Year 2021 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 24.11 (%).Trend:Decrease 18.49% than previous quarter
Year 2021 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 24.47 (%).Trend:Increase 1.49% than previous quarter

Overall: decreasing (-17.28%). Fluctuation: **Neutral** (moderate 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 13.98 (%).Trend:Increase 4.88% than previous quarter
Year 2021 Quarter 2: Retained Earning on Assets 18.77 (%).Trend:Increase 34.26% than previous quarter
Year 2021 Quarter 3: Retained Earning on Assets 21.84 (%).Trend:Increase 16.36% than previous quarter

Overall: increasing (56.22%). Fluctuation: **Neutral** (moderate variation).

Earning Per Share
Year 2021 Quarter 1: Earning Per Share 0.17 (USD).Trend:Decrease 91.5% than previous quarter
Year 2021 Quarter 2: Earning Per Share 2.95 (USD).Trend:Increase 1635.29% than previous quarter
Year 2021 Quarter 3: Earning Per Share 4.74 (USD).Trend:Increase 60.68% than previous quarter

Overall: increasing (2688.24%). Fluctuation: **Significant** (high variation).



Financial statements from Q1 to Q3 2021 present a complex picture.  Working capital efficiency (liabilities and current assets on revenue) displays a significant negative trend.  Cost efficiency (ratio of retained earnings to revenue) is also declining significantly. The SG&A expense ratio, however, shows a decreasing trend with moderate variation.  In contrast, invest efficiency (retained earnings on assets) and earning per share show a notable increase in the overall performance, although substantial fluctuations exist across the quarters.