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

Liabilities on Revenue
Year 2020 Quarter 1: Liabilities on Revenue 10748100000.0 (%).Trend:Decrease 10.96% than previous quarter
Year 2020 Quarter 2: Liabilities on Revenue 11312300000.0 (%).Trend:Increase 5.25% than previous quarter
Year 2020 Quarter 3: Liabilities on Revenue 9924400000.0 (%).Trend:Decrease 12.27% than previous quarter

Overall: decreasing (-7.66%). Fluctuation: **Little** (low variation).

Current assets on Revenue
Year 2020 Quarter 1: Current assets on Revenue 20716900000.0 (%).Trend:Decrease 12.02% than previous quarter
Year 2020 Quarter 2: Current assets on Revenue 21081600000.0 (%).Trend:Increase 1.76% than previous quarter
Year 2020 Quarter 3: Current assets on Revenue 20315400000.0 (%).Trend:Decrease 3.63% than previous quarter

Overall: decreasing (-1.94%). Fluctuation: **Little** (low variation).


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

Ratio of Retained Earnings to Revenue
Year 2020 Quarter 1: Ratio of Retained Earnings to Revenue 15565900000.0 (%).Trend:Increase 18.57% than previous quarter
Year 2020 Quarter 2: Ratio of Retained Earnings to Revenue 15618200000.0 (%).Trend:Increase 0.34% than previous quarter
Year 2020 Quarter 3: Ratio of Retained Earnings to Revenue 16301200000.0 (%).Trend:Increase 4.37% than previous quarter

Overall: increasing (4.72%). Fluctuation: **Little** (low variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2020 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 2132500000.0 (%).Trend:Decrease 68.19% than previous quarter
Year 2020 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 4088700000.0 (%).Trend:Increase 91.73% than previous quarter
Year 2020 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 5627300000.0 (%).Trend:Increase 37.63% than previous quarter

Overall: increasing (163.88%). Fluctuation: **Significant** (high variation).


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

Retained Earning on Assets
Year 2020 Quarter 1: Retained Earning on Assets 39.0 (%).Trend:Increase 17.72% than previous quarter
Year 2020 Quarter 2: Retained Earning on Assets 39.3 (%).Trend:Increase 0.77% than previous quarter
Year 2020 Quarter 3: Retained Earning on Assets 43.02 (%).Trend:Increase 9.47% than previous quarter

Overall: increasing (10.31%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2020 Quarter 1: Earning Per Share -0.18 (USD).Trend:Decrease 111.46% than previous quarter
Year 2020 Quarter 2: Earning Per Share -0.13 (USD).Trend:Decrease 27.78% than previous quarter
Year 2020 Quarter 3: Earning Per Share 0.52 (USD).Trend:Decrease 500.0% than previous quarter

Overall: increasing (-388.89%). Fluctuation: **Significant** (high variation).



Financial analysis of Q1-Q3 2020 reveals a mixed financial picture. Liabilities on revenue and current assets on revenue both show slight downward trends. The ratio of retained earnings to revenue is steadily increasing, while the SG&A expense ratio exhibits significant fluctuation, increasing considerably throughout the period. Investment efficiency (retained earnings on assets) is moderately increasing. Earnings per share, however, display significant volatility, increasing from negative values in previous quarters. These mixed results warrant further investigation.