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 49.93 (%).Trend:Decrease 41.2% than previous quarter
Year 2021 Quarter 1: Liabilities on Revenue 152.89 (%).Trend:Increase 206.21% than previous quarter
Year 2021 Quarter 2: Liabilities on Revenue 76.92 (%).Trend:Decrease 49.69% than previous quarter

Overall: increasing (54.06%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2020 Quarter 3: Current assets on Revenue 92.41 (%).Trend:Decrease 35.78% than previous quarter
Year 2021 Quarter 1: Current assets on Revenue 276.89 (%).Trend:Increase 199.63% than previous quarter
Year 2021 Quarter 2: Current assets on Revenue 136.63 (%).Trend:Decrease 50.66% than previous quarter

Overall: increasing (47.85%). 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 -151.42 (%).Trend:Decrease 32.35% than previous quarter
Year 2021 Quarter 1: Ratio of Retained Earnings to Revenue -476.14 (%).Trend:Increase 214.45% than previous quarter
Year 2021 Quarter 2: Ratio of Retained Earnings to Revenue -240.79 (%).Trend:Decrease 49.43% than previous quarter

Overall: decreasing (59.02%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio

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 -96.56 (%).Trend:Increase 4.02% than previous quarter
Year 2021 Quarter 1: Retained Earning on Assets -100.55 (%).Trend:Increase 4.13% than previous quarter
Year 2021 Quarter 2: Retained Earning on Assets -103.25 (%).Trend:Increase 2.69% than previous quarter

Overall: decreasing (6.93%). Fluctuation: **Significant** (high variation).

Earning Per Share
Year 2020 Quarter 3: Earning Per Share -1.0 (USD).Trend:Increase 0% than previous quarter
Year 2021 Quarter 1: Earning Per Share -0.24 (USD).Trend:Decrease 76.0% than previous quarter
Year 2021 Quarter 2: Earning Per Share -0.41 (USD).Trend:Increase 70.83% than previous quarter

Overall: increasing (-59.0%). Fluctuation: **Significant** (high variation).



Financial statement analysis from Q3 2020 to Q2 2021 reveals significant fluctuations in working capital efficiency, cost efficiency, and investment efficiency. Liabilities on revenue increased substantially in Q1 2021 before decreasing in Q2.  Current assets on revenue also exhibited a dramatic increase in Q1 2021, followed by a decrease in Q2.  Retained earnings to revenue ratios declined across all three quarters.  Investment efficiency shows a consistent, but slight, decrease in retained earnings on assets. Earnings per share are negative throughout, with fluctuations visible in Q1 and Q2 of 2021.