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

Liabilities on Revenue
Year 2021 Quarter 1: Liabilities on Revenue 76.43 (%).Trend:Increase 131.19% than previous quarter
Year 2021 Quarter 2: Liabilities on Revenue 38.87 (%).Trend:Decrease 49.14% than previous quarter
Year 2021 Quarter 3: Liabilities on Revenue 28.86 (%).Trend:Decrease 25.75% than previous quarter

Overall: decreasing (-62.24%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2021 Quarter 1: Current assets on Revenue 294.3 (%).Trend:Increase 84.43% than previous quarter
Year 2021 Quarter 2: Current assets on Revenue 143.46 (%).Trend:Decrease 51.25% than previous quarter
Year 2021 Quarter 3: Current assets on Revenue 97.06 (%).Trend:Decrease 32.34% than previous quarter

Overall: decreasing (-67.02%). Fluctuation: **Significant** (high variation).


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

Ratio of Retained Earnings to Revenue
Year 2021 Quarter 1: Ratio of Retained Earnings to Revenue -596.04 (%).Trend:Increase 135.96% than previous quarter
Year 2021 Quarter 2: Ratio of Retained Earnings to Revenue -273.21 (%).Trend:Decrease 54.16% than previous quarter
Year 2021 Quarter 3: Ratio of Retained Earnings to Revenue -177.23 (%).Trend:Decrease 35.13% than previous quarter

Overall: increasing (-70.27%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2021 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 22.77 (%).Trend:Decrease 11.88% than previous quarter
Year 2021 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 23.66 (%).Trend:Increase 3.91% than previous quarter
Year 2021 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 23.66 (%).Trend:Increase 0.0% than previous quarter

Overall: increasing (3.91%). Fluctuation: **Little** (low variation).


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

Retained Earning on Assets
Year 2021 Quarter 1: Retained Earning on Assets -45.19 (%).Trend:Increase 15.61% than previous quarter
Year 2021 Quarter 2: Retained Earning on Assets -45.32 (%).Trend:Increase 0.29% than previous quarter
Year 2021 Quarter 3: Retained Earning on Assets -45.53 (%).Trend:Increase 0.46% than previous quarter

Overall: decreasing (0.75%). Fluctuation: **Significant** (high variation).

Earning Per Share
Year 2021 Quarter 1: Earning Per Share -0.21 (USD).Trend:Decrease 79.0% than previous quarter
Year 2021 Quarter 2: Earning Per Share -0.32 (USD).Trend:Increase 52.38% than previous quarter
Year 2021 Quarter 3: Earning Per Share -0.37 (USD).Trend:Increase 15.62% than previous quarter

Overall: decreasing (76.19%). Fluctuation: **Significant** (high variation).



Analysis of the financial statements from Q1 to Q3 2021 shows significant fluctuations across key metrics. Liabilities on revenue and current assets on revenue decreased substantially from Q1 to Q3 2021, indicative of short-term financial instability.  Cost efficiency, measured by the ratio of retained earnings to revenue, displayed a substantial downward trend. SG&A expenses remained relatively consistent.  Invest efficiency and earnings per share both showed negative trends with volatility.  These findings suggest that the company faces short-term financial challenges, and further investigation into the underlying causes is necessary.