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 47.73 (%).Trend:Decrease 52.53% than previous quarter
Year 2020 Quarter 3: Liabilities on Revenue 28.94 (%).Trend:Decrease 39.37% than previous quarter
Year 2021 Quarter 1: Liabilities on Revenue 81.16 (%).Trend:Increase 180.44% than previous quarter

Overall: increasing (70.04%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2020 Quarter 2: Current assets on Revenue 226.75 (%).Trend:Decrease 52.76% than previous quarter
Year 2020 Quarter 3: Current assets on Revenue 168.81 (%).Trend:Decrease 25.55% than previous quarter
Year 2021 Quarter 1: Current assets on Revenue 442.37 (%).Trend:Increase 162.05% than previous quarter

Overall: increasing (95.09%). 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 372.16 (%).Trend:Decrease 53.8% than previous quarter
Year 2020 Quarter 3: Ratio of Retained Earnings to Revenue 274.91 (%).Trend:Decrease 26.13% than previous quarter
Year 2021 Quarter 1: Ratio of Retained Earnings to Revenue 658.08 (%).Trend:Increase 139.38% than previous quarter

Overall: increasing (76.83%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio

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 81.35 (%).Trend:Increase 0.1% than previous quarter
Year 2020 Quarter 3: Retained Earning on Assets 84.31 (%).Trend:Increase 3.64% than previous quarter
Year 2021 Quarter 1: Retained Earning on Assets 82.85 (%).Trend:Decrease 1.73% than previous quarter

Overall: increasing (1.84%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2020 Quarter 2: Earning Per Share 1.36 (USD).Trend:Increase 177.55% than previous quarter
Year 2020 Quarter 3: Earning Per Share 2.03 (USD).Trend:Increase 49.26% than previous quarter
Year 2021 Quarter 1: Earning Per Share 1.34 (USD).Trend:Decrease 33.99% than previous quarter

Overall: decreasing (-1.47%). Fluctuation: **Neutral** (moderate variation).



The financial statements show significant fluctuations in working capital efficiency. Liabilities on revenue increased dramatically in Q1 2020, then decreased significantly in Q2 and Q3 2020. Current assets on revenue also showed significant volatility, increasing and then decreasing over the period. Cost efficiency, measured by the ratio of retained earnings to revenue, followed a similar trend of significant variation, increasing in Q1 2021 and decreasing afterwards.  Investment efficiency, however, remained relatively stable. Earning per share fluctuated moderately.