Working Capital Efficiency
The data from Quater 2 in 2020 to Quater 1 in 2021 includes 3 quarters.

Liabilities on Revenue
Year 2020 Quarter 2: Liabilities on Revenue 64.01 (%).Trend:Decrease 42.47% than previous quarter
Year 2020 Quarter 3: Liabilities on Revenue 45.43 (%).Trend:Decrease 29.03% than previous quarter
Year 2021 Quarter 1: Liabilities on Revenue 118.91 (%).Trend:Increase 161.74% than previous quarter

Overall: increasing (85.77%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2020 Quarter 2: Current assets on Revenue 95.75 (%).Trend:Decrease 46.14% than previous quarter
Year 2020 Quarter 3: Current assets on Revenue 66.76 (%).Trend:Decrease 30.28% than previous quarter
Year 2021 Quarter 1: Current assets on Revenue 138.29 (%).Trend:Increase 107.14% than previous quarter

Overall: increasing (44.43%). Fluctuation: **Significant** (high variation).


Cost Efficiency
The data from Quater 2 in 2020 to Quater 1 in 2021 includes 3 quarters.

Ratio of Retained Earnings to Revenue
Year 2020 Quarter 2: Ratio of Retained Earnings to Revenue 22.1 (%).Trend:Decrease 53.86% than previous quarter
Year 2020 Quarter 3: Ratio of Retained Earnings to Revenue 11.5 (%).Trend:Decrease 47.96% than previous quarter
Year 2021 Quarter 1: Ratio of Retained Earnings to Revenue 12.83 (%).Trend:Increase 11.57% than previous quarter

Overall: decreasing (-41.95%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2020 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 6.76 (%).Trend:Increase 19.43% than previous quarter
Year 2020 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 7.14 (%).Trend:Increase 5.62% than previous quarter
Year 2021 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 5.05 (%).Trend:Decrease 29.27% than previous quarter

Overall: decreasing (-25.3%). Fluctuation: **Neutral** (moderate variation).


Invest Efficiency
The data from Quater 2 in 2020 to Quater 1 in 2021 includes 3 quarters.

Retained Earning on Assets
Year 2020 Quarter 2: Retained Earning on Assets 10.36 (%).Trend:Decrease 19.75% than previous quarter
Year 2020 Quarter 3: Retained Earning on Assets 7.61 (%).Trend:Decrease 26.54% than previous quarter
Year 2021 Quarter 1: Retained Earning on Assets 4.04 (%).Trend:Decrease 46.91% than previous quarter

Overall: decreasing (-61.0%). Fluctuation: **Significant** (high variation).

Earning Per Share
Year 2020 Quarter 2: Earning Per Share 7.63 (USD).Trend:Increase 51.39% than previous quarter
Year 2020 Quarter 3: Earning Per Share 10.25 (USD).Trend:Increase 34.34% than previous quarter
Year 2021 Quarter 1: Earning Per Share 1.7 (USD).Trend:Decrease 83.41% than previous quarter

Overall: decreasing (-77.72%). Fluctuation: **Significant** (high variation).



The three quarters analyzed (Q2 2020 - Q1 2021) show significant fluctuations.  Liabilities on revenue increased overall by 85.77%, while current assets on revenue increased by 44.43%, both with high variability.  Conversely, the ratio of retained earnings to revenue decreased by -41.95% with significant fluctuation.  The SG&A expense ratio decreased (-25.3%), demonstrating moderate variability. Investment efficiency metrics, retained earnings on assets (-61.0%) and earnings per share (-77.72%), show significant declines with high variation.