Working Capital Efficiency
The data from Quater 1 in 2021 to Quater 3 in 2021 includes 3 quarters.

Liabilities on Revenue
Year 2021 Quarter 1: Liabilities on Revenue 89.08 (%).Trend:Increase 167.19% than previous quarter
Year 2021 Quarter 2: Liabilities on Revenue 59.06 (%).Trend:Decrease 33.7% than previous quarter
Year 2021 Quarter 3: Liabilities on Revenue 41.21 (%).Trend:Decrease 30.22% than previous quarter

Overall: decreasing (-53.74%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2021 Quarter 1: Current assets on Revenue 89.78 (%).Trend:Increase 149.39% than previous quarter
Year 2021 Quarter 2: Current assets on Revenue 44.77 (%).Trend:Decrease 50.13% than previous quarter
Year 2021 Quarter 3: Current assets on Revenue 35.28 (%).Trend:Decrease 21.2% than previous quarter

Overall: decreasing (-60.7%). Fluctuation: **Significant** (high variation).


Cost Efficiency
The data from Quater 1 in 2021 to Quater 3 in 2021 includes 3 quarters.

Ratio of Retained Earnings to Revenue
Year 2021 Quarter 1: Ratio of Retained Earnings to Revenue -78.75 (%).Trend:Increase 248.14% than previous quarter
Year 2021 Quarter 2: Ratio of Retained Earnings to Revenue -37.24 (%).Trend:Decrease 52.71% than previous quarter
Year 2021 Quarter 3: Ratio of Retained Earnings to Revenue -24.08 (%).Trend:Decrease 35.34% than previous quarter

Overall: increasing (-69.42%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2021 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 11.41 (%).Trend:Increase 0.0% than previous quarter
Year 2021 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 11.47 (%).Trend:Increase 0.53% than previous quarter
Year 2021 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 10.89 (%).Trend:Decrease 5.06% than previous quarter

Overall: decreasing (-4.56%). Fluctuation: **Little** (low variation).


Invest Efficiency
The data from Quater 1 in 2021 to Quater 3 in 2021 includes 3 quarters.

Retained Earning on Assets
Year 2021 Quarter 1: Retained Earning on Assets -30.25 (%).Trend:Increase 34.68% than previous quarter
Year 2021 Quarter 2: Retained Earning on Assets -29.14 (%).Trend:Decrease 3.67% than previous quarter
Year 2021 Quarter 3: Retained Earning on Assets -27.52 (%).Trend:Decrease 5.56% than previous quarter

Overall: increasing (-9.02%). Fluctuation: **Significant** (high variation).

Earning Per Share
Year 2021 Quarter 1: Earning Per Share 0.2 (USD).Trend:Decrease 129.41% than previous quarter
Year 2021 Quarter 2: Earning Per Share 0.87 (USD).Trend:Increase 335.0% than previous quarter
Year 2021 Quarter 3: Earning Per Share 1.15 (USD).Trend:Increase 32.18% than previous quarter

Overall: increasing (475.0%). Fluctuation: **Significant** (high variation).



Financial analysis from Q1 2021 to Q3 2021 demonstrates significant fluctuations in working capital and cost efficiency. Liabilities on revenue decreased from Q1 to Q3.  Current assets on revenue similarly decreased, fluctuating substantially.  The retained earnings to revenue ratio shows increasing results that are also highly volatile.  SG&A expense ratio decreased slightly.  Investment efficiency (retained earnings on assets) continued the fluctuating decrease trend. Earnings per share increased significantly throughout the period, showing substantial variation.