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 32.94 (%).Trend:Decrease 39.68% than previous quarter
Year 2020 Quarter 3: Liabilities on Revenue 22.9 (%).Trend:Decrease 30.48% than previous quarter
Year 2021 Quarter 1: Liabilities on Revenue 46.42 (%).Trend:Increase 102.71% than previous quarter

Overall: increasing (40.92%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2020 Quarter 2: Current assets on Revenue 46.08 (%).Trend:Decrease 44.73% than previous quarter
Year 2020 Quarter 3: Current assets on Revenue 39.61 (%).Trend:Decrease 14.04% than previous quarter
Year 2021 Quarter 1: Current assets on Revenue 143.3 (%).Trend:Increase 261.78% than previous quarter

Overall: increasing (210.98%). 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 -113.25 (%).Trend:Decrease 43.02% than previous quarter
Year 2020 Quarter 3: Ratio of Retained Earnings to Revenue -55.15 (%).Trend:Decrease 51.3% than previous quarter
Year 2021 Quarter 1: Ratio of Retained Earnings to Revenue -59.85 (%).Trend:Increase 8.52% than previous quarter

Overall: increasing (-47.15%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2020 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 7.94 (%).Trend:Increase 16.76% than previous quarter
Year 2020 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 7.4 (%).Trend:Decrease 6.8% than previous quarter
Year 2021 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 4.73 (%).Trend:Decrease 36.08% than previous quarter

Overall: decreasing (-40.43%). Fluctuation: **Neutral** (moderate 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 -20.05 (%).Trend:Increase 6.88% than previous quarter
Year 2020 Quarter 3: Retained Earning on Assets -16.88 (%).Trend:Decrease 15.81% than previous quarter
Year 2021 Quarter 1: Retained Earning on Assets -8.27 (%).Trend:Decrease 51.01% than previous quarter

Overall: increasing (-58.75%). Fluctuation: **Significant** (high variation).

Earning Per Share
Year 2020 Quarter 2: Earning Per Share -0.21 (USD).Trend:Decrease 16.0% than previous quarter
Year 2020 Quarter 3: Earning Per Share 0.99 (USD).Trend:Decrease 571.43% than previous quarter
Year 2021 Quarter 1: Earning Per Share 1.95 (USD).Trend:Increase 96.97% than previous quarter

Overall: increasing (-1028.57%). Fluctuation: **Significant** (high variation).



Financial statements from Q2 2020 to Q1 2021 exhibit significant volatility. Liabilities on revenue increased, followed by a decrease and a subsequent increase. Current assets on revenue showed a large increase in Q1 2021, after a downward trend.  The ratio of retained earnings to revenue was consistently negative.  SG&A expense ratio had a slight decrease over the period.  Investment efficiency continued to show decreases in retained earnings on assets,  while earnings per share increased from Q1 2020 to Q1 2021, but with large fluctuations.