Working Capital Efficiency
The data from Quater 3 in 2019 to Quater 1 in 2021 includes 3 quarters.

Liabilities on Revenue
Year 2019 Quarter 3: Liabilities on Revenue 38.86 (%).Trend:Decrease 34.93% than previous quarter
Year 2020 Quarter 3: Liabilities on Revenue 41.29 (%).Trend:Increase 6.25% than previous quarter
Year 2021 Quarter 1: Liabilities on Revenue 98.66 (%).Trend:Increase 138.94% than previous quarter

Overall: increasing (153.89%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2019 Quarter 3: Current assets on Revenue 25.54 (%).Trend:Decrease 30.56% than previous quarter
Year 2020 Quarter 3: Current assets on Revenue 40.5 (%).Trend:Increase 58.57% than previous quarter
Year 2021 Quarter 1: Current assets on Revenue 95.04 (%).Trend:Increase 134.67% than previous quarter

Overall: increasing (272.12%). Fluctuation: **Significant** (high variation).


Cost Efficiency
The data from Quater 3 in 2019 to Quater 1 in 2021 includes 3 quarters.

Ratio of Retained Earnings to Revenue
Year 2019 Quarter 3: Ratio of Retained Earnings to Revenue -28.94 (%).Trend:Decrease 38.93% than previous quarter
Year 2020 Quarter 3: Ratio of Retained Earnings to Revenue -13.7 (%).Trend:Decrease 52.66% than previous quarter
Year 2021 Quarter 1: Ratio of Retained Earnings to Revenue -24.81 (%).Trend:Increase 81.09% than previous quarter

Overall: increasing (-14.27%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2019 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 31.65 (%).Trend:Decrease 0.06% than previous quarter
Year 2020 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 29.48 (%).Trend:Decrease 6.86% than previous quarter
Year 2021 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 24.32 (%).Trend:Decrease 17.5% than previous quarter

Overall: decreasing (-23.16%). Fluctuation: **Neutral** (moderate variation).


Invest Efficiency
The data from Quater 3 in 2019 to Quater 1 in 2021 includes 3 quarters.

Retained Earning on Assets
Year 2019 Quarter 3: Retained Earning on Assets -11.13 (%).Trend:Decrease 9.73% than previous quarter
Year 2020 Quarter 3: Retained Earning on Assets -3.42 (%).Trend:Decrease 69.27% than previous quarter
Year 2021 Quarter 1: Retained Earning on Assets -2.41 (%).Trend:Decrease 29.53% than previous quarter

Overall: increasing (-78.35%). Fluctuation: **Significant** (high variation).

Earning Per Share
Year 2019 Quarter 3: Earning Per Share 3.18 (USD).Trend:Increase 47.22% than previous quarter
Year 2020 Quarter 3: Earning Per Share 2.08 (USD).Trend:Decrease 34.59% than previous quarter
Year 2021 Quarter 1: Earning Per Share 0.75 (USD).Trend:Decrease 63.94% than previous quarter

Overall: decreasing (-76.42%). Fluctuation: **Significant** (high variation).



Financial performance from Q3 2019 to Q1 2021 reveals substantial increases in working capital efficiency (liabilities and current assets on revenue).  However, cost efficiency shows a decline in the SG&A expense ratio, while the ratio of retained earnings to revenue and investment efficiency show significant fluctuations and a general increasing (negative) trend.  Earnings per share have decreased overall with notable variation.  The data indicates significant volatility and a potential need for strategic adjustments to financial strategies to stabilize performance.