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

Liabilities on Revenue
Year 2019 Quarter 3: Liabilities on Revenue 18.67 (%).Trend:Decrease 36.65% than previous quarter
Year 2020 Quarter 1: Liabilities on Revenue 56.41 (%).Trend:Increase 202.14% than previous quarter
Year 2020 Quarter 2: Liabilities on Revenue 30.61 (%).Trend:Decrease 45.74% than previous quarter

Overall: increasing (63.95%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2019 Quarter 3: Current assets on Revenue 53.86 (%).Trend:Decrease 35.41% than previous quarter
Year 2020 Quarter 1: Current assets on Revenue 168.51 (%).Trend:Increase 212.87% than previous quarter
Year 2020 Quarter 2: Current assets on Revenue 94.12 (%).Trend:Decrease 44.15% than previous quarter

Overall: increasing (74.75%). Fluctuation: **Significant** (high variation).


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

Ratio of Retained Earnings to Revenue
Year 2019 Quarter 3: Ratio of Retained Earnings to Revenue 27.4 (%).Trend:Decrease 31.35% than previous quarter
Year 2020 Quarter 1: Ratio of Retained Earnings to Revenue 85.44 (%).Trend:Increase 211.82% than previous quarter
Year 2020 Quarter 2: Ratio of Retained Earnings to Revenue 41.13 (%).Trend:Decrease 51.86% than previous quarter

Overall: increasing (50.11%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2019 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 7.2 (%).Trend:Increase 0.84% than previous quarter
Year 2020 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 9.08 (%).Trend:Increase 26.11% than previous quarter
Year 2020 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 9.54 (%).Trend:Increase 5.07% than previous quarter

Overall: increasing (32.5%). Fluctuation: **Neutral** (moderate variation).


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

Retained Earning on Assets
Year 2019 Quarter 3: Retained Earning on Assets 29.02 (%).Trend:Increase 3.79% than previous quarter
Year 2020 Quarter 1: Retained Earning on Assets 27.44 (%).Trend:Decrease 5.44% than previous quarter
Year 2020 Quarter 2: Retained Earning on Assets 22.61 (%).Trend:Decrease 17.6% than previous quarter

Overall: decreasing (-22.09%). Fluctuation: **Neutral** (moderate variation).

Earning Per Share
Year 2019 Quarter 3: Earning Per Share 2.12 (USD).Trend:Increase 35.9% than previous quarter
Year 2020 Quarter 1: Earning Per Share -0.94 (USD).Trend:Decrease 144.34% than previous quarter
Year 2020 Quarter 2: Earning Per Share -4.29 (USD).Trend:Increase 356.38% than previous quarter

Overall: decreasing (-302.36%). Fluctuation: **Significant** (high variation).



Financial analysis from Q3 2019 to Q2 2020 reveals substantial fluctuations in key metrics.  Working capital efficiency (liabilities and current assets on revenue) displays substantial increases with significant variation. Cost efficiency, as measured by the retained earnings ratio and SG&A expense, is marked by significant increases and decreases. Investment efficiency, measured by retained earnings on assets, is consistently decreasing with moderate variation. Earnings per share have significantly decreased, with considerable volatility. Overall, the financial performance for the period shows substantial instability and warrants further analysis to identify causes.