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 10814600000.0 (%).Trend:Decrease 7.91% than previous quarter
Year 2020 Quarter 3: Liabilities on Revenue 10916400000.0 (%).Trend:Increase 0.94% than previous quarter
Year 2021 Quarter 1: Liabilities on Revenue 14966500000.0 (%).Trend:Increase 37.1% than previous quarter

Overall: increasing (38.39%). Fluctuation: **Neutral** (moderate variation).

Current assets on Revenue
Year 2020 Quarter 2: Current assets on Revenue 38455300000.0 (%).Trend:Increase 4.85% than previous quarter
Year 2020 Quarter 3: Current assets on Revenue 40697700000.0 (%).Trend:Increase 5.83% than previous quarter
Year 2021 Quarter 1: Current assets on Revenue 52711800000.0 (%).Trend:Increase 29.52% than previous quarter

Overall: increasing (37.07%). Fluctuation: **Neutral** (moderate 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 38062600000.0 (%).Trend:Increase 9.38% than previous quarter
Year 2020 Quarter 3: Ratio of Retained Earnings to Revenue 40718900000.0 (%).Trend:Increase 6.98% than previous quarter
Year 2021 Quarter 1: Ratio of Retained Earnings to Revenue 49456600000.0 (%).Trend:Increase 21.46% than previous quarter

Overall: increasing (29.93%). Fluctuation: **Neutral** (moderate variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2020 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 10316600000.0 (%).Trend:Increase 98.41% than previous quarter
Year 2020 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 15204900000.0 (%).Trend:Increase 47.38% than previous quarter
Year 2021 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 5054700000.0 (%).Trend:Decrease 66.76% than previous quarter

Overall: decreasing (-51.0%). Fluctuation: **Significant** (high 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 67.15 (%).Trend:Increase 6.18% than previous quarter
Year 2020 Quarter 3: Retained Earning on Assets 69.1 (%).Trend:Increase 2.9% than previous quarter
Year 2021 Quarter 1: Retained Earning on Assets 69.49 (%).Trend:Increase 0.56% than previous quarter

Overall: increasing (3.48%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2020 Quarter 2: Earning Per Share 1.0 (USD).Trend:Decrease 98.65% than previous quarter
Year 2020 Quarter 3: Earning Per Share 2.0 (USD).Trend:Increase 100.0% than previous quarter
Year 2021 Quarter 1: Earning Per Share 1.0 (USD).Trend:Decrease 50.0% than previous quarter

Overall: stable (0.0%). Fluctuation: **Significant** (high variation).



Financial performance from Q2 2020 to Q1 2021 shows a mixed bag. Working capital efficiency (liabilities and current assets on revenue) and cost efficiency (ratio of retained earnings to revenue) are generally increasing with moderate fluctuation. However, the selling, general, and administrative (SG&A) expense ratio is decreasing significantly, while earning per share is unstable.  Investment efficiency (retained earnings on assets) displays stable growth.