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 17673900000.0 (%).Trend:Increase 14.75% than previous quarter
Year 2021 Quarter 1: Liabilities on Revenue 20255700000.0 (%).Trend:Increase 14.61% than previous quarter
Year 2021 Quarter 2: Liabilities on Revenue 20140000000.0 (%).Trend:Decrease 0.57% than previous quarter

Overall: increasing (13.95%). Fluctuation: **Little** (low variation).

Current assets on Revenue
Year 2020 Quarter 3: Current assets on Revenue 29449400000.0 (%).Trend:Increase 4.93% than previous quarter
Year 2021 Quarter 1: Current assets on Revenue 33305800000.0 (%).Trend:Increase 13.1% than previous quarter
Year 2021 Quarter 2: Current assets on Revenue 34955100000.0 (%).Trend:Increase 4.95% than previous quarter

Overall: increasing (18.7%). Fluctuation: **Little** (low 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 13983800000.0 (%).Trend:Decrease 7.3% than previous quarter
Year 2021 Quarter 1: Ratio of Retained Earnings to Revenue 14440100000.0 (%).Trend:Increase 3.26% than previous quarter
Year 2021 Quarter 2: Ratio of Retained Earnings to Revenue 15486400000.0 (%).Trend:Increase 7.25% than previous quarter

Overall: increasing (10.75%). Fluctuation: **Little** (low variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2020 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 14835300000.0 (%).Trend:Increase 53.78% than previous quarter
Year 2021 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 6323700000.0 (%).Trend:Decrease 57.37% than previous quarter
Year 2021 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 13422100000.0 (%).Trend:Increase 112.25% than previous quarter

Overall: decreasing (-9.53%). Fluctuation: **Significant** (high variation).


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 23.67 (%).Trend:Decrease 6.41% than previous quarter
Year 2021 Quarter 1: Retained Earning on Assets 23.37 (%).Trend:Decrease 1.27% than previous quarter
Year 2021 Quarter 2: Retained Earning on Assets 26.21 (%).Trend:Increase 12.15% than previous quarter

Overall: increasing (10.73%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2020 Quarter 3: Earning Per Share -1.64 (USD).Trend:Increase 10.81% than previous quarter
Year 2021 Quarter 1: Earning Per Share 0.92 (USD).Trend:Decrease 156.1% than previous quarter
Year 2021 Quarter 2: Earning Per Share 1.54 (USD).Trend:Increase 67.39% than previous quarter

Overall: increasing (-193.9%). Fluctuation: **Significant** (high variation).



Q3 2020 to Q2 2021 financial analysis shows increasing working capital efficiency, with both liabilities and current assets on revenue trending upward. Cost efficiency, reflected in the retained earnings-to-revenue ratio, is also increasing.  However, SG&A expense ratio exhibits a significant downward trend followed by a significant upward trend. Investment efficiency and earnings per share are increasing overall, but both metrics show significant fluctuation.