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 385037100000.0 (%).Trend:Decrease 5.11% than previous quarter
Year 2020 Quarter 1: Liabilities on Revenue 371054600000.0 (%).Trend:Decrease 3.63% than previous quarter
Year 2020 Quarter 2: Liabilities on Revenue 360507900000.0 (%).Trend:Decrease 2.84% than previous quarter

Overall: decreasing (-6.37%). Fluctuation: **Little** (low variation).

Current assets on Revenue
Year 2019 Quarter 3: Current assets on Revenue 532288800000.0 (%).Trend:Increase 3.21% than previous quarter
Year 2020 Quarter 1: Current assets on Revenue 512948900000.0 (%).Trend:Decrease 3.63% than previous quarter
Year 2020 Quarter 2: Current assets on Revenue 502738600000.0 (%).Trend:Decrease 1.99% than previous quarter

Overall: decreasing (-5.55%). Fluctuation: **Little** (low 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 199814200000.0 (%).Trend:Decrease 27.86% than previous quarter
Year 2020 Quarter 1: Ratio of Retained Earnings to Revenue 141884500000.0 (%).Trend:Decrease 28.99% than previous quarter
Year 2020 Quarter 2: Ratio of Retained Earnings to Revenue 139386600000.0 (%).Trend:Decrease 1.76% than previous quarter

Overall: decreasing (-30.24%). Fluctuation: **Neutral** (moderate variation).

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

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 25.35 (%).Trend:Decrease 17.88% than previous quarter
Year 2020 Quarter 1: Retained Earning on Assets 19.46 (%).Trend:Decrease 23.23% than previous quarter
Year 2020 Quarter 2: Retained Earning on Assets 19.25 (%).Trend:Decrease 1.08% than previous quarter

Overall: decreasing (-24.06%). Fluctuation: **Neutral** (moderate variation).

Earning Per Share
Year 2019 Quarter 3: Earning Per Share -9.68 (USD).Trend:Increase 121.0% than previous quarter
Year 2020 Quarter 1: Earning Per Share -1.9 (USD).Trend:Decrease 80.37% than previous quarter
Year 2020 Quarter 2: Earning Per Share -2.07 (USD).Trend:Increase 8.95% than previous quarter

Overall: increasing (-78.62%). Fluctuation: **Significant** (high variation).



Financial analysis of Q3 2019 to Q2 2020 indicates declining trends in working capital efficiency (liabilities and current assets on revenue). Cost efficiency, measured by the ratio of retained earnings to revenue, exhibits a significant decrease. Investment efficiency, measured by retained earnings on assets, also declines. Earnings per share show considerable fluctuation with a significant overall decline.