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 34.87 (%).Trend:Decrease 41.77% than previous quarter
Year 2021 Quarter 1: Liabilities on Revenue 103.02 (%).Trend:Increase 195.44% than previous quarter
Year 2021 Quarter 2: Liabilities on Revenue 48.28 (%).Trend:Decrease 53.14% than previous quarter

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

Current assets on Revenue
Year 2020 Quarter 3: Current assets on Revenue 52.03 (%).Trend:Decrease 37.21% than previous quarter
Year 2021 Quarter 1: Current assets on Revenue 150.73 (%).Trend:Increase 189.7% than previous quarter
Year 2021 Quarter 2: Current assets on Revenue 72.26 (%).Trend:Decrease 52.06% than previous quarter

Overall: increasing (38.88%). Fluctuation: **Significant** (high 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 126.71 (%).Trend:Decrease 33.88% than previous quarter
Year 2021 Quarter 1: Ratio of Retained Earnings to Revenue 425.27 (%).Trend:Increase 235.62% than previous quarter
Year 2021 Quarter 2: Ratio of Retained Earnings to Revenue 211.85 (%).Trend:Decrease 50.18% than previous quarter

Overall: increasing (67.19%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2020 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 12.38 (%).Trend:Decrease 4.99% than previous quarter
Year 2021 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 11.45 (%).Trend:Decrease 7.51% than previous quarter
Year 2021 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 10.94 (%).Trend:Decrease 4.45% than previous quarter

Overall: decreasing (-11.63%). Fluctuation: **Little** (low 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 65.54 (%).Trend:Increase 5.34% than previous quarter
Year 2021 Quarter 1: Retained Earning on Assets 69.44 (%).Trend:Increase 5.95% than previous quarter
Year 2021 Quarter 2: Retained Earning on Assets 70.97 (%).Trend:Increase 2.2% than previous quarter

Overall: increasing (8.29%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2020 Quarter 3: Earning Per Share 7.09 (USD).Trend:Increase 67.61% than previous quarter
Year 2021 Quarter 1: Earning Per Share 2.5 (USD).Trend:Decrease 64.74% than previous quarter
Year 2021 Quarter 2: Earning Per Share 5.97 (USD).Trend:Increase 138.8% than previous quarter

Overall: decreasing (-15.8%). Fluctuation: **Significant** (high variation).



The financial statements show significant fluctuations in working capital efficiency, cost efficiency, and investment efficiency metrics between Q3 2020 and Q2 2021.  Liabilities and current assets on revenue experienced substantial increases and decreases across the three quarters, indicating a volatile working capital management strategy.  Cost efficiency, as measured by the SG&A expense ratio, has trended downward, showing an improvement in this area.  Conversely, the ratio of retained earnings to revenue and earning per share have both displayed significant fluctuations, indicating inconsistent profitability and potential operational challenges.  Investment efficiency, measured by retained earnings on assets, has shown a steady, though moderate, upward trend.  Overall, the data suggests a need for further investigation into the underlying causes of the high variability observed in several key performance indicators.