Working Capital Efficiency
The data from Quater 3 in 2020 to Quater 3 in 2021 includes 3 quarters.

Liabilities on Revenue
Year 2020 Quarter 3: Liabilities on Revenue 49.71 (%).Trend:Decrease 20.92% than previous quarter
Year 2021 Quarter 2: Liabilities on Revenue 67.67 (%).Trend:Increase 36.13% than previous quarter
Year 2021 Quarter 3: Liabilities on Revenue 70.87 (%).Trend:Increase 4.73% than previous quarter

Overall: increasing (42.57%). Fluctuation: **Neutral** (moderate variation).

Current assets on Revenue
Year 2020 Quarter 3: Current assets on Revenue 16.5 (%).Trend:Decrease 58.06% than previous quarter
Year 2021 Quarter 2: Current assets on Revenue 24.83 (%).Trend:Increase 50.48% than previous quarter
Year 2021 Quarter 3: Current assets on Revenue 17.75 (%).Trend:Decrease 28.51% than previous quarter

Overall: increasing (7.58%). Fluctuation: **Neutral** (moderate variation).


Cost Efficiency
The data from Quater 3 in 2020 to Quater 3 in 2021 includes 3 quarters.

Ratio of Retained Earnings to Revenue
Year 2020 Quarter 3: Ratio of Retained Earnings to Revenue -314.65 (%).Trend:Decrease 19.77% than previous quarter
Year 2021 Quarter 2: Ratio of Retained Earnings to Revenue -303.16 (%).Trend:Decrease 3.65% than previous quarter
Year 2021 Quarter 3: Ratio of Retained Earnings to Revenue -193.63 (%).Trend:Decrease 36.13% than previous quarter

Overall: increasing (-38.46%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio

Invest Efficiency
The data from Quater 3 in 2020 to Quater 3 in 2021 includes 3 quarters.

Retained Earning on Assets
Year 2020 Quarter 3: Retained Earning on Assets -66.33 (%).Trend:Increase 29.35% than previous quarter
Year 2021 Quarter 2: Retained Earning on Assets -66.59 (%).Trend:Increase 0.39% than previous quarter
Year 2021 Quarter 3: Retained Earning on Assets -71.36 (%).Trend:Increase 7.16% than previous quarter

Overall: decreasing (7.58%). Fluctuation: **Significant** (high variation).

Earning Per Share
Year 2020 Quarter 3: Earning Per Share -2.82 (USD).Trend:Increase 28100.0% than previous quarter
Year 2021 Quarter 2: Earning Per Share -0.53 (USD).Trend:Decrease 81.21% than previous quarter
Year 2021 Quarter 3: Earning Per Share -1.98 (USD).Trend:Increase 273.58% than previous quarter

Overall: increasing (-29.79%). Fluctuation: **Significant** (high variation).



Financial analysis reveals fluctuating working capital efficiency with increasing liabilities on revenue and current assets on revenue. Cost efficiency shows a substantial improvement (a negative decrease in ratio) in retained earnings to revenue, suggesting better cost management. However, investment efficiency demonstrates a notable decrease in retained earnings on assets, while earnings per share exhibits high variability.