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

Liabilities on Revenue
Year 2021 Quarter 1: Liabilities on Revenue 62.02 (%).Trend:Increase 194.63% than previous quarter
Year 2021 Quarter 2: Liabilities on Revenue 36.02 (%).Trend:Decrease 41.92% than previous quarter
Year 2021 Quarter 3: Liabilities on Revenue 28.48 (%).Trend:Decrease 20.93% than previous quarter

Overall: decreasing (-54.08%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2021 Quarter 1: Current assets on Revenue 201.81 (%).Trend:Increase 222.02% than previous quarter
Year 2021 Quarter 2: Current assets on Revenue 93.47 (%).Trend:Decrease 53.68% than previous quarter
Year 2021 Quarter 3: Current assets on Revenue 56.87 (%).Trend:Decrease 39.16% than previous quarter

Overall: decreasing (-71.82%). Fluctuation: **Significant** (high variation).


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

Ratio of Retained Earnings to Revenue
Year 2021 Quarter 1: Ratio of Retained Earnings to Revenue 73.89 (%).Trend:Increase 137.89% than previous quarter
Year 2021 Quarter 2: Ratio of Retained Earnings to Revenue 42.3 (%).Trend:Decrease 42.75% than previous quarter
Year 2021 Quarter 3: Ratio of Retained Earnings to Revenue 29.37 (%).Trend:Decrease 30.57% than previous quarter

Overall: decreasing (-60.25%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2021 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 5.73 (%).Trend:Decrease 34.29% than previous quarter
Year 2021 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 6.81 (%).Trend:Increase 18.85% than previous quarter
Year 2021 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 6.53 (%).Trend:Decrease 4.11% than previous quarter

Overall: increasing (13.96%). Fluctuation: **Little** (low variation).


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

Retained Earning on Assets
Year 2021 Quarter 1: Retained Earning on Assets 23.2 (%).Trend:Decrease 9.13% than previous quarter
Year 2021 Quarter 2: Retained Earning on Assets 21.22 (%).Trend:Decrease 8.53% than previous quarter
Year 2021 Quarter 3: Retained Earning on Assets 21.75 (%).Trend:Increase 2.5% than previous quarter

Overall: decreasing (-6.25%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2021 Quarter 1: Earning Per Share 1.86 (USD).Trend:Decrease 221.57% than previous quarter
Year 2021 Quarter 2: Earning Per Share 5.77 (USD).Trend:Increase 210.22% than previous quarter
Year 2021 Quarter 3: Earning Per Share 8.17 (USD).Trend:Increase 41.59% than previous quarter

Overall: increasing (339.25%). Fluctuation: **Significant** (high variation).



Financial analysis of Q1 2021 to Q3 2021 displays significant volatility.  Working capital efficiency is decreasing across both liabilities and current assets on revenue, suggesting potential short-term financial strain.  Cost efficiency, represented by the retained earnings ratio, also exhibits a clear downward trend.  Selling, general, and administrative (SG&A) expenses, however, show a positive overall trend, though with minor fluctuations. Investment efficiency (retained earnings on assets) experiences a consistent slight decline. Earnings per share (EPS) are increasing but with considerable variance.  These findings indicate instability and require further investigation into the contributing factors.