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 56.83 (%).Trend:Decrease 52.84% than previous quarter
Year 2020 Quarter 3: Liabilities on Revenue 38.2 (%).Trend:Decrease 32.78% than previous quarter
Year 2021 Quarter 1: Liabilities on Revenue 122.76 (%).Trend:Increase 221.36% than previous quarter

Overall: increasing (116.01%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2020 Quarter 2: Current assets on Revenue 112.22 (%).Trend:Decrease 46.39% than previous quarter
Year 2020 Quarter 3: Current assets on Revenue 63.54 (%).Trend:Decrease 43.38% than previous quarter
Year 2021 Quarter 1: Current assets on Revenue 232.67 (%).Trend:Increase 266.18% than previous quarter

Overall: increasing (107.33%). 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 145.73 (%).Trend:Decrease 45.11% than previous quarter
Year 2020 Quarter 3: Ratio of Retained Earnings to Revenue 90.1 (%).Trend:Decrease 38.17% than previous quarter
Year 2021 Quarter 1: Ratio of Retained Earnings to Revenue 277.73 (%).Trend:Increase 208.25% than previous quarter

Overall: increasing (90.58%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2020 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 7.55 (%).Trend:Decrease 2.83% than previous quarter
Year 2020 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 7.64 (%).Trend:Increase 1.19% than previous quarter
Year 2021 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 6.75 (%).Trend:Decrease 11.65% than previous quarter

Overall: decreasing (-10.6%). Fluctuation: **Little** (low variation).


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 37.79 (%).Trend:Increase 6.03% than previous quarter
Year 2020 Quarter 3: Retained Earning on Assets 35.91 (%).Trend:Decrease 4.97% than previous quarter
Year 2021 Quarter 1: Retained Earning on Assets 36.27 (%).Trend:Increase 1.0% than previous quarter

Overall: decreasing (-4.02%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2020 Quarter 2: Earning Per Share 2.53 (USD).Trend:Increase 90.23% than previous quarter
Year 2020 Quarter 3: Earning Per Share 3.55 (USD).Trend:Increase 40.32% than previous quarter
Year 2021 Quarter 1: Earning Per Share 0.83 (USD).Trend:Decrease 76.62% than previous quarter

Overall: decreasing (-67.19%). Fluctuation: **Significant** (high variation).



Financial analysis from Q2 2020 to Q1 2021 shows significant volatility.  Liability and current assets on revenue increase substantially but show substantial fluctuation. The retained earnings-to-revenue ratio increases significantly but is highly variable. Selling, general, and administrative (SG&A) expenses are relatively stable, decreasing slightly, but investment efficiency (retained earnings on assets) and earnings per share are decreasing, with significant fluctuation.