Working Capital Efficiency
The data from Quater 2 in 2020 to Quater 1 in 2021 includes 3 quarters.

Liabilities on Revenue
Year 2020 Quarter 2: Liabilities on Revenue 45.93 (%).Trend:Decrease 40.69% than previous quarter
Year 2020 Quarter 3: Liabilities on Revenue 29.57 (%).Trend:Decrease 35.62% than previous quarter
Year 2021 Quarter 1: Liabilities on Revenue 63.99 (%).Trend:Increase 116.4% than previous quarter

Overall: increasing (39.32%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2020 Quarter 2: Current assets on Revenue 74.19 (%).Trend:Decrease 44.57% than previous quarter
Year 2020 Quarter 3: Current assets on Revenue 54.5 (%).Trend:Decrease 26.54% than previous quarter
Year 2021 Quarter 1: Current assets on Revenue 153.04 (%).Trend:Increase 180.81% than previous quarter

Overall: increasing (106.28%). Fluctuation: **Significant** (high variation).


Cost Efficiency
The data from Quater 2 in 2020 to Quater 1 in 2021 includes 3 quarters.

Ratio of Retained Earnings to Revenue
Year 2020 Quarter 2: Ratio of Retained Earnings to Revenue 228.49 (%).Trend:Decrease 42.84% than previous quarter
Year 2020 Quarter 3: Ratio of Retained Earnings to Revenue 156.82 (%).Trend:Decrease 31.37% than previous quarter
Year 2021 Quarter 1: Ratio of Retained Earnings to Revenue 443.51 (%).Trend:Increase 182.81% than previous quarter

Overall: increasing (94.1%). Fluctuation: **Significant** (high variation).

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

Invest Efficiency
The data from Quater 2 in 2020 to Quater 1 in 2021 includes 3 quarters.

Retained Earning on Assets
Year 2020 Quarter 2: Retained Earning on Assets 30.01 (%).Trend:Increase 2.11% than previous quarter
Year 2020 Quarter 3: Retained Earning on Assets 30.84 (%).Trend:Increase 2.77% than previous quarter
Year 2021 Quarter 1: Retained Earning on Assets 31.43 (%).Trend:Increase 1.91% than previous quarter

Overall: increasing (4.73%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2020 Quarter 2: Earning Per Share 1.65 (USD).Trend:Increase 65.0% than previous quarter
Year 2020 Quarter 3: Earning Per Share 2.61 (USD).Trend:Increase 58.18% than previous quarter
Year 2021 Quarter 1: Earning Per Share 0.93 (USD).Trend:Decrease 64.37% than previous quarter

Overall: decreasing (-43.64%). Fluctuation: **Significant** (high variation).



Financial statements from Q2 2020 to Q1 2021 illustrate significant fluctuations.  Working capital efficiency metrics (liabilities and current assets on revenue) experienced a period of decrease and then increase.  Cost efficiency, measured by the ratio of retained earnings to revenue, also showed substantial variation, increasing sharply in Q1 2021. Investment efficiency remained relatively stable.  Earnings per share fell significantly, then increased before decreasing again in Q1 2021.  The high volatility necessitates a deep dive into underlying drivers for these varied outcomes.