Working Capital Efficiency
The data from Quater 3 in 2019 to Quater 2 in 2020 includes 3 quarters.

Liabilities on Revenue
Year 2019 Quarter 3: Liabilities on Revenue 19.24 (%).Trend:Decrease 28.66% than previous quarter
Year 2020 Quarter 1: Liabilities on Revenue 55.35 (%).Trend:Increase 187.68% than previous quarter
Year 2020 Quarter 2: Liabilities on Revenue 29.28 (%).Trend:Decrease 47.1% than previous quarter

Overall: increasing (52.18%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2019 Quarter 3: Current assets on Revenue 45.54 (%).Trend:Decrease 39.94% than previous quarter
Year 2020 Quarter 1: Current assets on Revenue 189.89 (%).Trend:Increase 316.97% than previous quarter
Year 2020 Quarter 2: Current assets on Revenue 105.85 (%).Trend:Decrease 44.26% than previous quarter

Overall: increasing (132.43%). Fluctuation: **Significant** (high variation).


Cost Efficiency
The data from Quater 3 in 2019 to Quater 2 in 2020 includes 3 quarters.

Ratio of Retained Earnings to Revenue
Year 2019 Quarter 3: Ratio of Retained Earnings to Revenue 14.62 (%).Trend:Decrease 23.62% than previous quarter
Year 2020 Quarter 1: Ratio of Retained Earnings to Revenue 50.6 (%).Trend:Increase 246.1% than previous quarter
Year 2020 Quarter 2: Ratio of Retained Earnings to Revenue 21.13 (%).Trend:Decrease 58.24% than previous quarter

Overall: increasing (44.53%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2019 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 41.62 (%).Trend:Decrease 0.69% than previous quarter
Year 2020 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 45.47 (%).Trend:Increase 9.25% than previous quarter
Year 2020 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 49.08 (%).Trend:Increase 7.94% than previous quarter

Overall: increasing (17.92%). Fluctuation: **Little** (low variation).


Invest Efficiency
The data from Quater 3 in 2019 to Quater 2 in 2020 includes 3 quarters.

Retained Earning on Assets
Year 2019 Quarter 3: Retained Earning on Assets 6.79 (%).Trend:Increase 18.5% than previous quarter
Year 2020 Quarter 1: Retained Earning on Assets 6.4 (%).Trend:Decrease 5.74% than previous quarter
Year 2020 Quarter 2: Retained Earning on Assets 4.51 (%).Trend:Decrease 29.53% than previous quarter

Overall: decreasing (-33.58%). Fluctuation: **Neutral** (moderate variation).

Earning Per Share


Financial analysis from Q3 2019 to Q2 2020 shows significant fluctuations in working capital efficiency. Liabilities as a percentage of revenue increased significantly in Q1 2020, then decreased before rising, exhibiting substantial volatility.  Current assets as a percentage of revenue also showed substantial volatility with a sharp increase and decrease. Cost efficiency shows a similar variable trend in retained earnings to revenue, with a significant upward trend overall.  SG&A expense ratio shows a moderately increasing trend over the period with little fluctuation. Investment efficiency, measured by retained earnings on assets, shows a decrease.  Earning per share data is not included.