Working Capital Efficiency
The data from Quater 3 in 2020 to Quater 2 in 2021 includes 3 quarters.

Liabilities on Revenue
Year 2020 Quarter 3: Liabilities on Revenue 47100000000.0 (%).Trend:Decrease 3.52% than previous quarter
Year 2021 Quarter 1: Liabilities on Revenue 30520000000.0 (%).Trend:Decrease 35.2% than previous quarter
Year 2021 Quarter 2: Liabilities on Revenue 36950000000.0 (%).Trend:Increase 21.07% than previous quarter

Overall: decreasing (-21.55%). Fluctuation: **Neutral** (moderate variation).

Current assets on Revenue
Year 2020 Quarter 3: Current assets on Revenue 80660000000.0 (%).Trend:Decrease 1.36% than previous quarter
Year 2021 Quarter 1: Current assets on Revenue 34680000000.0 (%).Trend:Decrease 57.0% than previous quarter
Year 2021 Quarter 2: Current assets on Revenue 53260000000.0 (%).Trend:Increase 53.58% than previous quarter

Overall: decreasing (-33.97%). Fluctuation: **Significant** (high variation).


Cost Efficiency
The data from Quater 3 in 2020 to Quater 2 in 2021 includes 3 quarters.

Ratio of Retained Earnings to Revenue
Year 2020 Quarter 3: Ratio of Retained Earnings to Revenue 35760000000.0 (%).Trend:Increase 13.56% than previous quarter
Year 2021 Quarter 1: Ratio of Retained Earnings to Revenue 20140000000.0 (%).Trend:Decrease 43.68% than previous quarter
Year 2021 Quarter 2: Ratio of Retained Earnings to Revenue 30950000000.0 (%).Trend:Increase 53.67% than previous quarter

Overall: decreasing (-13.45%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2020 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 8530000000.0 (%).Trend:Increase 83.44% than previous quarter
Year 2021 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 3020000000.0 (%).Trend:Decrease 64.6% than previous quarter
Year 2021 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 6360000000.0 (%).Trend:Increase 110.6% than previous quarter

Overall: decreasing (-25.44%). Fluctuation: **Significant** (high variation).


Invest Efficiency
The data from Quater 3 in 2020 to Quater 2 in 2021 includes 3 quarters.

Retained Earning on Assets
Year 2020 Quarter 3: Retained Earning on Assets 10.96 (%).Trend:Increase 11.95% than previous quarter
Year 2021 Quarter 1: Retained Earning on Assets 7.23 (%).Trend:Decrease 34.03% than previous quarter
Year 2021 Quarter 2: Retained Earning on Assets 10.42 (%).Trend:Increase 44.12% than previous quarter

Overall: decreasing (-4.93%). Fluctuation: **Neutral** (moderate variation).

Earning Per Share
Year 2020 Quarter 3: Earning Per Share -2.5 (USD).Trend:Decrease 30.36% than previous quarter
Year 2021 Quarter 1: Earning Per Share 0.93 (USD).Trend:Decrease 137.2% than previous quarter
Year 2021 Quarter 2: Earning Per Share 3.72 (USD).Trend:Increase 300.0% than previous quarter

Overall: increasing (-248.8%). Fluctuation: **Significant** (high variation).



Financial analysis from Q3 2020 to Q2 2021 shows declining trends in working capital efficiency (decreasing liabilities on revenue and current assets on revenue).  Cost efficiency, as measured by the ratio of retained earnings to revenue and SG&A expense ratio, also experienced decreases.  Investment efficiency (retained earnings on assets) showed a slight decrease. Earnings per share exhibited substantial fluctuation, starting negative and ending positive.