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 68.65 (%).Trend:Increase 125.3% than previous quarter
Year 2021 Quarter 2: Liabilities on Revenue 35.07 (%).Trend:Decrease 48.91% than previous quarter
Year 2021 Quarter 3: Liabilities on Revenue 25.63 (%).Trend:Decrease 26.92% than previous quarter

Overall: decreasing (-62.67%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2021 Quarter 1: Current assets on Revenue 158.91 (%).Trend:Increase 140.59% than previous quarter
Year 2021 Quarter 2: Current assets on Revenue 85.72 (%).Trend:Decrease 46.06% than previous quarter
Year 2021 Quarter 3: Current assets on Revenue 60.67 (%).Trend:Decrease 29.22% than previous quarter

Overall: decreasing (-61.82%). 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 46.82 (%).Trend:Increase 193.36% than previous quarter
Year 2021 Quarter 2: Ratio of Retained Earnings to Revenue 28.09 (%).Trend:Decrease 40.0% than previous quarter
Year 2021 Quarter 3: Ratio of Retained Earnings to Revenue 21.14 (%).Trend:Decrease 24.74% than previous quarter

Overall: decreasing (-54.85%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2021 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 30.36 (%).Trend:Decrease 17.21% than previous quarter
Year 2021 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 32.07 (%).Trend:Increase 5.63% than previous quarter
Year 2021 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 33.95 (%).Trend:Increase 5.86% than previous quarter

Overall: increasing (11.82%). Fluctuation: **Little** (low 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 13.81 (%).Trend:Increase 33.56% than previous quarter
Year 2021 Quarter 2: Retained Earning on Assets 16.39 (%).Trend:Increase 18.68% than previous quarter
Year 2021 Quarter 3: Retained Earning on Assets 17.6 (%).Trend:Increase 7.38% than previous quarter

Overall: increasing (27.44%). Fluctuation: **Neutral** (moderate variation).

Earning Per Share
Year 2021 Quarter 1: Earning Per Share 1.14 (USD).Trend:Increase 14.0% than previous quarter
Year 2021 Quarter 2: Earning Per Share 2.22 (USD).Trend:Increase 94.74% than previous quarter
Year 2021 Quarter 3: Earning Per Share 2.75 (USD).Trend:Increase 23.87% than previous quarter

Overall: increasing (141.23%). Fluctuation: **Significant** (high variation).



Financial analysis reveals significant volatility in key financial metrics across the first three quarters of 2021.  Working capital efficiency displays substantial fluctuations in both liabilities and current assets on revenue. Cost efficiency shows a marked drop in the retained earnings-to-revenue ratio, while the SG&A expense ratio demonstrates a relatively stable upward trend.  Investment efficiency exhibits a consistent upward movement in retained earnings on assets. Earnings per share demonstrates a significant upward trend, but with substantial fluctuations across the period.  This indicates a potentially high-growth but unstable financial performance pattern during the period.