Working Capital Efficiency
The data from Quater 2 in 2019 to Quater 1 in 2020 includes 3 quarters.

Liabilities on Revenue
Year 2019 Quarter 2: Liabilities on Revenue 42.09 (%).Trend:Increase 0% than previous quarter
Year 2019 Quarter 3: Liabilities on Revenue 28.17 (%).Trend:Decrease 33.07% than previous quarter
Year 2020 Quarter 1: Liabilities on Revenue 78.01 (%).Trend:Increase 176.93% than previous quarter

Overall: increasing (85.34%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2019 Quarter 2: Current assets on Revenue 50.83 (%).Trend:Increase 0% than previous quarter
Year 2019 Quarter 3: Current assets on Revenue 33.39 (%).Trend:Decrease 34.31% than previous quarter
Year 2020 Quarter 1: Current assets on Revenue 102.71 (%).Trend:Increase 207.61% than previous quarter

Overall: increasing (102.07%). Fluctuation: **Significant** (high variation).


Cost Efficiency
The data from Quater 2 in 2019 to Quater 1 in 2020 includes 3 quarters.

Ratio of Retained Earnings to Revenue
Year 2019 Quarter 2: Ratio of Retained Earnings to Revenue 47.19 (%).Trend:Increase 0% than previous quarter
Year 2019 Quarter 3: Ratio of Retained Earnings to Revenue 31.01 (%).Trend:Decrease 34.29% than previous quarter
Year 2020 Quarter 1: Ratio of Retained Earnings to Revenue 104.85 (%).Trend:Increase 238.12% than previous quarter

Overall: increasing (122.19%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2019 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 33.25 (%).Trend:Increase 0% than previous quarter
Year 2019 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 31.34 (%).Trend:Decrease 5.74% than previous quarter
Year 2020 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 35.65 (%).Trend:Increase 13.75% than previous quarter

Overall: increasing (7.22%). Fluctuation: **Little** (low variation).


Invest Efficiency
The data from Quater 2 in 2019 to Quater 1 in 2020 includes 3 quarters.

Retained Earning on Assets
Year 2019 Quarter 2: Retained Earning on Assets 32.9 (%).Trend:Increase 0% than previous quarter
Year 2019 Quarter 3: Retained Earning on Assets 34.39 (%).Trend:Increase 4.53% than previous quarter
Year 2020 Quarter 1: Retained Earning on Assets 35.87 (%).Trend:Increase 4.3% than previous quarter

Overall: increasing (9.03%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2019 Quarter 2: Earning Per Share 0.39 (USD).Trend:Increase 0% than previous quarter
Year 2019 Quarter 3: Earning Per Share 1.46 (USD).Trend:Increase 274.36% than previous quarter
Year 2020 Quarter 1: Earning Per Share -0.56 (USD).Trend:Decrease 138.36% than previous quarter

Overall: decreasing (-243.59%). Fluctuation: **Significant** (high variation).



Financial analysis from Q2 2019 to Q1 2020 reveals a complex financial picture. Working capital efficiency (liabilities and current assets on revenue) increased sharply, but with large fluctuations.  Cost efficiency, as measured by the SG&A expense ratio, saw a gradual uptrend with lower variability. Investment efficiency (retained earnings on assets) remained relatively consistent.  A major concern is the sharp decline in earnings per share, from positive values to negative in Q1 2020. The data highlights significant inconsistencies across key financial indicators.