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 52.14 (%).Trend:Decrease 63.63% than previous quarter
Year 2020 Quarter 3: Liabilities on Revenue 69.56 (%).Trend:Increase 33.41% than previous quarter
Year 2021 Quarter 1: Liabilities on Revenue 287.8 (%).Trend:Increase 313.74% than previous quarter

Overall: increasing (451.98%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2020 Quarter 2: Current assets on Revenue 313.61 (%).Trend:Decrease 58.36% than previous quarter
Year 2020 Quarter 3: Current assets on Revenue 237.36 (%).Trend:Decrease 24.31% than previous quarter
Year 2021 Quarter 1: Current assets on Revenue 757.69 (%).Trend:Increase 219.22% than previous quarter

Overall: increasing (141.6%). Fluctuation: **Significant** (high 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 187.53 (%).Trend:Decrease 56.57% than previous quarter
Year 2020 Quarter 3: Ratio of Retained Earnings to Revenue 117.19 (%).Trend:Decrease 37.51% than previous quarter
Year 2021 Quarter 1: Ratio of Retained Earnings to Revenue 306.96 (%).Trend:Increase 161.93% than previous quarter

Overall: increasing (63.69%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2020 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 17.43 (%).Trend:Decrease 9.92% than previous quarter
Year 2020 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 18.57 (%).Trend:Increase 6.54% than previous quarter
Year 2021 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 17.2 (%).Trend:Decrease 7.38% than previous quarter

Overall: decreasing (-1.32%). Fluctuation: **Little** (low 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 50.31 (%).Trend:Increase 1.86% than previous quarter
Year 2020 Quarter 3: Retained Earning on Assets 42.39 (%).Trend:Decrease 15.74% than previous quarter
Year 2021 Quarter 1: Retained Earning on Assets 35.99 (%).Trend:Decrease 15.1% than previous quarter

Overall: decreasing (-28.46%). Fluctuation: **Neutral** (moderate variation).

Earning Per Share
Year 2020 Quarter 2: Earning Per Share -1.84 (USD).Trend:Decrease 3.66% than previous quarter
Year 2020 Quarter 3: Earning Per Share -2.27 (USD).Trend:Increase 23.37% than previous quarter
Year 2021 Quarter 1: Earning Per Share -0.05 (USD).Trend:Decrease 97.8% than previous quarter

Overall: increasing (-97.28%). Fluctuation: **Significant** (high variation).



Financial analysis from Q2 2020 to Q1 2021 shows a significant increase in working capital efficiency, with both liabilities and current assets on revenue exhibiting high variation. Cost efficiency displays a significant increase in the ratio of retained earnings to revenue.  The selling, general, and administrative (SG&A) expense ratio demonstrates a decrease, with little fluctuation. Investment efficiency shows a substantial decrease in retained earnings on assets, and earnings per share shows a significant increase in overall decline.