Working Capital Efficiency
The data from Quater 1 in 2020 to Quater 3 in 2020 includes 3 quarters.

Liabilities on Revenue
Year 2020 Quarter 1: Liabilities on Revenue 23029100000.0 (%).Trend:Decrease 9.68% than previous quarter
Year 2020 Quarter 2: Liabilities on Revenue 23258400000.0 (%).Trend:Increase 1.0% than previous quarter
Year 2020 Quarter 3: Liabilities on Revenue 24480700000.0 (%).Trend:Increase 5.26% than previous quarter

Overall: increasing (6.3%). Fluctuation: **Little** (low variation).

Current assets on Revenue
Year 2020 Quarter 1: Current assets on Revenue 53391100000.0 (%).Trend:Decrease 5.47% than previous quarter
Year 2020 Quarter 2: Current assets on Revenue 53338600000.0 (%).Trend:Decrease 0.1% than previous quarter
Year 2020 Quarter 3: Current assets on Revenue 51504600000.0 (%).Trend:Decrease 3.44% than previous quarter

Overall: decreasing (-3.53%). Fluctuation: **Little** (low variation).


Cost Efficiency
The data from Quater 1 in 2020 to Quater 3 in 2020 includes 3 quarters.

Ratio of Retained Earnings to Revenue
Year 2020 Quarter 1: Ratio of Retained Earnings to Revenue 18008200000.0 (%).Trend:Decrease 34.14% than previous quarter
Year 2020 Quarter 2: Ratio of Retained Earnings to Revenue 18420600000.0 (%).Trend:Increase 2.29% than previous quarter
Year 2020 Quarter 3: Ratio of Retained Earnings to Revenue 18953300000.0 (%).Trend:Increase 2.89% than previous quarter

Overall: increasing (5.25%). Fluctuation: **Little** (low variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2020 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 8768300000.0 (%).Trend:Decrease 69.35% than previous quarter
Year 2020 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 16774100000.0 (%).Trend:Increase 91.3% than previous quarter
Year 2020 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 25590200000.0 (%).Trend:Increase 52.56% than previous quarter

Overall: increasing (191.85%). Fluctuation: **Significant** (high variation).


Invest Efficiency
The data from Quater 1 in 2020 to Quater 3 in 2020 includes 3 quarters.

Retained Earning on Assets
Year 2020 Quarter 1: Retained Earning on Assets 13.99 (%).Trend:Decrease 27.1% than previous quarter
Year 2020 Quarter 2: Retained Earning on Assets 14.16 (%).Trend:Increase 1.22% than previous quarter
Year 2020 Quarter 3: Retained Earning on Assets 14.51 (%).Trend:Increase 2.47% than previous quarter

Overall: increasing (3.72%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2020 Quarter 1: Earning Per Share -1.0 (USD).Trend:Decrease 200.0% than previous quarter
Year 2020 Quarter 2: Earning Per Share -1.0 (USD).Trend:Increase 0.0% than previous quarter
Year 2020 Quarter 3: Earning Per Share -1.0 (USD).Trend:Increase 0.0% than previous quarter

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



2020 financial statements show a complex picture. Liabilities on revenue are incrementally increasing, while current assets are declining slightly.  Cost efficiency reflects an increase in the retained earnings ratio, although the selling, general, and administrative (SG&A) expense ratio shows significant growth. Investment efficiency reveals a stable rise in retained earnings on assets.  Earnings per share remain persistently negative.  The substantial fluctuations in the SG&A expense ratio and earnings per share deserve further investigation.