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 2142100000.0 (%).Trend:Decrease 1.85% than previous quarter
Year 2020 Quarter 1: Liabilities on Revenue 5057500000.0 (%).Trend:Increase 136.1% than previous quarter
Year 2020 Quarter 2: Liabilities on Revenue 2115200000.0 (%).Trend:Decrease 58.18% than previous quarter

Overall: decreasing (-1.26%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2019 Quarter 3: Current assets on Revenue 6492800000.0 (%).Trend:Increase 1.55% than previous quarter
Year 2020 Quarter 1: Current assets on Revenue 5724400000.0 (%).Trend:Decrease 11.83% than previous quarter
Year 2020 Quarter 2: Current assets on Revenue 4364600000.0 (%).Trend:Decrease 23.75% than previous quarter

Overall: decreasing (-32.78%). Fluctuation: **Neutral** (moderate 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 -6011400000.0 (%).Trend:Decrease 0.55% than previous quarter
Year 2020 Quarter 1: Ratio of Retained Earnings to Revenue -6505000000.0 (%).Trend:Increase 8.21% than previous quarter
Year 2020 Quarter 2: Ratio of Retained Earnings to Revenue -6604200000.0 (%).Trend:Increase 1.52% than previous quarter

Overall: decreasing (9.86%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2019 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 3016500000.0 (%).Trend:Increase 45.96% than previous quarter
Year 2020 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 1023700000.0 (%).Trend:Decrease 66.06% than previous quarter
Year 2020 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 1923100000.0 (%).Trend:Increase 87.86% than previous quarter

Overall: decreasing (-36.25%). Fluctuation: **Significant** (high variation).


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 -65.53 (%).Trend:Decrease 0.15% than previous quarter
Year 2020 Quarter 1: Retained Earning on Assets -77.49 (%).Trend:Increase 18.25% than previous quarter
Year 2020 Quarter 2: Retained Earning on Assets -94.11 (%).Trend:Increase 21.45% than previous quarter

Overall: decreasing (43.61%). Fluctuation: **Significant** (high variation).

Earning Per Share


Financial analysis from Q3 2019 to Q2 2020 reveals trends in working capital, cost, and investment efficiency.  Liabilities on revenue decreased slightly overall but with significant quarter-to-quarter fluctuations.  Current assets on revenue also decreased significantly. Cost efficiency, as measured by the SG&A expense ratio, exhibited substantial decreases and significant fluctuations.  The ratio of retained earnings to revenue continuously decreased, also with significant variations.  Investment efficiency, as measured by retained earnings on assets, shows a substantial decrease and high volatility.