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 195350000000.0 (%).Trend:Increase 23.46% than previous quarter
Year 2021 Quarter 1: Liabilities on Revenue 242370000000.0 (%).Trend:Increase 24.07% than previous quarter
Year 2021 Quarter 2: Liabilities on Revenue 238120000000.0 (%).Trend:Decrease 1.75% than previous quarter

Overall: increasing (21.89%). Fluctuation: **Neutral** (moderate variation).

Current assets on Revenue
Year 2020 Quarter 3: Current assets on Revenue 175960000000.0 (%).Trend:Increase 8.91% than previous quarter
Year 2021 Quarter 1: Current assets on Revenue 195470000000.0 (%).Trend:Increase 11.09% than previous quarter
Year 2021 Quarter 2: Current assets on Revenue 205260000000.0 (%).Trend:Increase 5.01% than previous quarter

Overall: increasing (16.65%). Fluctuation: **Little** (low 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 239100000000.0 (%).Trend:Increase 4.47% than previous quarter
Year 2021 Quarter 1: Ratio of Retained Earnings to Revenue 257360000000.0 (%).Trend:Increase 7.64% than previous quarter
Year 2021 Quarter 2: Ratio of Retained Earnings to Revenue 266050000000.0 (%).Trend:Increase 3.38% than previous quarter

Overall: increasing (11.27%). Fluctuation: **Little** (low variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2020 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 91110000000.0 (%).Trend:Increase 53.41% than previous quarter
Year 2021 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 32130000000.0 (%).Trend:Decrease 64.73% than previous quarter
Year 2021 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 67790000000.0 (%).Trend:Increase 110.99% than previous quarter

Overall: decreasing (-25.6%). Fluctuation: **Significant** (high 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 22.02 (%).Trend:Increase 1.76% than previous quarter
Year 2021 Quarter 1: Retained Earning on Assets 20.29 (%).Trend:Decrease 7.86% than previous quarter
Year 2021 Quarter 2: Retained Earning on Assets 20.77 (%).Trend:Increase 2.37% than previous quarter

Overall: decreasing (-5.68%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2020 Quarter 3: Earning Per Share 4.0 (USD).Trend:Increase 100.0% than previous quarter
Year 2021 Quarter 1: Earning Per Share 0.61 (USD).Trend:Decrease 84.75% than previous quarter
Year 2021 Quarter 2: Earning Per Share 1.29 (USD).Trend:Increase 111.48% than previous quarter

Overall: decreasing (-67.75%). Fluctuation: **Significant** (high variation).



Financial analysis for Q3 2020 to Q2 2021 shows several trends. Liabilities on revenue are increasing overall, but with some fluctuations. Current assets on revenue are consistently increasing, indicating good management of short-term assets. Cost efficiency, as measured by the ratio of retained earnings to revenue, is steadily improving.  However, SG&A expense ratio exhibits significant fluctuations.  Investment efficiency (retained earnings on assets) is decreasing slightly. Earnings per share are also highly variable, declining significantly overall.