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 36.02 (%).Trend:Decrease 25.29% than previous quarter
Year 2021 Quarter 1: Liabilities on Revenue 104.53 (%).Trend:Increase 190.2% than previous quarter
Year 2021 Quarter 2: Liabilities on Revenue 54.16 (%).Trend:Decrease 48.19% than previous quarter

Overall: increasing (50.36%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2020 Quarter 3: Current assets on Revenue 71.74 (%).Trend:Decrease 36.68% than previous quarter
Year 2021 Quarter 1: Current assets on Revenue 194.01 (%).Trend:Increase 170.43% than previous quarter
Year 2021 Quarter 2: Current assets on Revenue 98.58 (%).Trend:Decrease 49.19% than previous quarter

Overall: increasing (37.41%). 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 36.49 (%).Trend:Decrease 32.16% than previous quarter
Year 2021 Quarter 1: Ratio of Retained Earnings to Revenue 94.5 (%).Trend:Increase 158.98% than previous quarter
Year 2021 Quarter 2: Ratio of Retained Earnings to Revenue 44.68 (%).Trend:Decrease 52.72% than previous quarter

Overall: increasing (22.44%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2020 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 9.56 (%).Trend:Decrease 2.45% than previous quarter
Year 2021 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 9.68 (%).Trend:Increase 1.26% than previous quarter
Year 2021 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 10.03 (%).Trend:Increase 3.62% than previous quarter

Overall: increasing (4.92%). 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 19.07 (%).Trend:Increase 3.98% than previous quarter
Year 2021 Quarter 1: Retained Earning on Assets 18.93 (%).Trend:Decrease 0.73% than previous quarter
Year 2021 Quarter 2: Retained Earning on Assets 18.47 (%).Trend:Decrease 2.43% than previous quarter

Overall: decreasing (-3.15%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2020 Quarter 3: Earning Per Share 1.22 (USD).Trend:Increase 62.67% than previous quarter
Year 2021 Quarter 1: Earning Per Share 0.58 (USD).Trend:Decrease 52.46% than previous quarter
Year 2021 Quarter 2: Earning Per Share 0.97 (USD).Trend:Increase 67.24% than previous quarter

Overall: decreasing (-20.49%). Fluctuation: **Significant** (high variation).



Financial analysis of Q3 2020 to Q2 2021 shows fluctuating working capital efficiency. Liabilities on revenue show a significant increase overall (50.36%), despite substantial fluctuations between quarters. Current assets on revenue also increased (37.41%), but with high volatility.  The ratio of retained earnings to revenue increases (22.44%), despite significant fluctuations. SG&A expense ratio shows a slight increase overall (4.92%). Investment efficiency shows a modest overall decrease in retained earnings on assets with little fluctuation.  Earnings per share show a substantial decline overall, with significant fluctuations across the quarters.