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 130.26 (%).Trend:Increase 262.94% than previous quarter
Year 2021 Quarter 2: Liabilities on Revenue 63.45 (%).Trend:Decrease 51.29% than previous quarter
Year 2021 Quarter 3: Liabilities on Revenue 41.01 (%).Trend:Decrease 35.37% than previous quarter

Overall: decreasing (-68.52%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2021 Quarter 1: Current assets on Revenue 183.09 (%).Trend:Increase 291.64% than previous quarter
Year 2021 Quarter 2: Current assets on Revenue 87.48 (%).Trend:Decrease 52.22% than previous quarter
Year 2021 Quarter 3: Current assets on Revenue 54.49 (%).Trend:Decrease 37.71% than previous quarter

Overall: decreasing (-70.24%). 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 21.18 (%).Trend:Increase 153.96% than previous quarter
Year 2021 Quarter 2: Ratio of Retained Earnings to Revenue 7.44 (%).Trend:Decrease 64.87% than previous quarter
Year 2021 Quarter 3: Ratio of Retained Earnings to Revenue 4.97 (%).Trend:Decrease 33.2% than previous quarter

Overall: decreasing (-76.53%). 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 4.35 (%).Trend:Decrease 29.27% than previous quarter
Year 2021 Quarter 2: Retained Earning on Assets 3.19 (%).Trend:Decrease 26.67% than previous quarter
Year 2021 Quarter 3: Retained Earning on Assets 3.36 (%).Trend:Increase 5.33% than previous quarter

Overall: decreasing (-22.76%). Fluctuation: **Neutral** (moderate variation).

Earning Per Share
Year 2021 Quarter 1: Earning Per Share -0.31 (USD).Trend:Decrease 65.56% than previous quarter
Year 2021 Quarter 2: Earning Per Share -0.68 (USD).Trend:Increase 119.35% than previous quarter
Year 2021 Quarter 3: Earning Per Share -0.61 (USD).Trend:Decrease 10.29% than previous quarter

Overall: decreasing (96.77%). Fluctuation: **Significant** (high variation).



Financial analysis for Q1 2021 to Q3 2021 displays a pattern of decreasing performance across multiple key financial indicators. Liabilities on revenue and current assets on revenue both decreased significantly, exhibiting significant volatility.  Cost efficiency, represented by the ratio of retained earnings to revenue, similarly reveals a substantial overall decline. Investment efficiency demonstrates a decreasing trend. Earnings per share remain consistently negative throughout the period, exhibiting significant variations.  The overall picture reveals declining performance in working capital, cost efficiency, and investment efficiency, coupled with persistent negative earnings.