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 35.89 (%).Trend:Decrease 35.04% than previous quarter
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

Overall: increasing (76.79%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2020 Quarter 3: Current assets on Revenue 46.75 (%).Trend:Decrease 32.59% than previous quarter
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

Overall: increasing (87.12%). 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 8.34 (%).Trend:Decrease 27.73% than previous quarter
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

Overall: decreasing (-10.79%). Fluctuation: **Significant** (high variation).

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

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 6.15 (%).Trend:Increase 10.61% than previous quarter
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

Overall: decreasing (-48.13%). Fluctuation: **Significant** (high variation).

Earning Per Share
Year 2020 Quarter 3: Earning Per Share -0.9 (USD).Trend:Decrease 20.35% than previous quarter
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

Overall: increasing (-24.44%). Fluctuation: **Significant** (high variation).



Financial analysis of Q3 2020 to Q2 2021 shows significant fluctuations in working capital efficiency. Liabilities on revenue increased to 130.26% in Q1 2021, then decreased to 63.45% in Q2 2021, exhibiting high variation. Current assets on revenue also increased significantly in Q1 2021, then decreased in Q2 2021, displaying substantial volatility.  Cost efficiency, as measured by the ratio of retained earnings to revenue, showed a notable decrease in overall performance.  Investment efficiency, represented by retained earnings on assets, continued to decline. Earnings per share remained negative throughout the period, with fluctuating trends and a slight increase in Q2 2021. Overall, the data illustrates volatile performance, with significant changes in key financial metrics.