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 99.42 (%).Trend:Decrease 44.39% than previous quarter
Year 2021 Quarter 1: Liabilities on Revenue 214.78 (%).Trend:Increase 116.03% than previous quarter
Year 2021 Quarter 2: Liabilities on Revenue 327.5 (%).Trend:Increase 52.48% than previous quarter

Overall: increasing (229.41%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2020 Quarter 3: Current assets on Revenue 125.49 (%).Trend:Decrease 49.22% than previous quarter
Year 2021 Quarter 1: Current assets on Revenue 601.13 (%).Trend:Increase 379.03% than previous quarter
Year 2021 Quarter 2: Current assets on Revenue 245.3 (%).Trend:Decrease 59.19% than previous quarter

Overall: increasing (95.47%). 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 -102.74 (%).Trend:Decrease 25.59% than previous quarter
Year 2021 Quarter 1: Ratio of Retained Earnings to Revenue -293.22 (%).Trend:Increase 185.4% than previous quarter
Year 2021 Quarter 2: Ratio of Retained Earnings to Revenue -140.93 (%).Trend:Decrease 51.94% than previous quarter

Overall: decreasing (37.17%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2020 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 40.84 (%).Trend:Decrease 5.27% than previous quarter
Year 2021 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 49.54 (%).Trend:Increase 21.3% than previous quarter
Year 2021 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 40.28 (%).Trend:Decrease 18.69% than previous quarter

Overall: decreasing (-1.37%). Fluctuation: **Neutral** (moderate 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 -16.41 (%).Trend:Increase 20.93% than previous quarter
Year 2021 Quarter 1: Retained Earning on Assets -14.6 (%).Trend:Decrease 11.03% than previous quarter
Year 2021 Quarter 2: Retained Earning on Assets -4.28 (%).Trend:Decrease 70.68% than previous quarter

Overall: increasing (-73.92%). Fluctuation: **Significant** (high variation).

Earning Per Share


Financial performance from Q3 2020 to Q2 2021 reveals significant variations.  Liabilities on revenue saw a substantial increase (229.41%) followed by a substantial decrease in Q3 2020. Current assets on revenue also saw a sizable increase (95.47%) with considerable variation across quarters. Cost efficiency shows a decrease of -37.17% in the ratio of retained earnings to revenue, but SG&A expense ratio experienced a decrease of -1.37%, which is considered neutral fluctuation. Investment efficiency presents a complex picture, with retained earnings on assets increasing in Q3 2020 and showing high variation but net loss throughout the period. Further analysis is needed to assess the underlying reasons for these fluctuations.