Working Capital Efficiency
The data from Quater 1 in 2020 to Quater 3 in 2020 includes 3 quarters.

Liabilities on Revenue
Year 2020 Quarter 1: Liabilities on Revenue 51312700000.0 (%).Trend:Increase 53.66% than previous quarter
Year 2020 Quarter 2: Liabilities on Revenue 57755200000.0 (%).Trend:Increase 12.56% than previous quarter
Year 2020 Quarter 3: Liabilities on Revenue 60382300000.0 (%).Trend:Increase 4.55% than previous quarter

Overall: increasing (17.68%). Fluctuation: **Little** (low variation).

Current assets on Revenue
Year 2020 Quarter 1: Current assets on Revenue 27008200000.0 (%).Trend:Increase 27.36% than previous quarter
Year 2020 Quarter 2: Current assets on Revenue 26688900000.0 (%).Trend:Decrease 1.18% than previous quarter
Year 2020 Quarter 3: Current assets on Revenue 30576400000.0 (%).Trend:Increase 14.57% than previous quarter

Overall: increasing (13.21%). Fluctuation: **Little** (low variation).


Cost Efficiency
The data from Quater 1 in 2020 to Quater 3 in 2020 includes 3 quarters.

Ratio of Retained Earnings to Revenue
Year 2020 Quarter 1: Ratio of Retained Earnings to Revenue 38652400000.0 (%).Trend:Decrease 6.93% than previous quarter
Year 2020 Quarter 2: Ratio of Retained Earnings to Revenue 38144900000.0 (%).Trend:Decrease 1.31% than previous quarter
Year 2020 Quarter 3: Ratio of Retained Earnings to Revenue 46730300000.0 (%).Trend:Increase 22.51% than previous quarter

Overall: increasing (20.9%). Fluctuation: **Neutral** (moderate variation).

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

Invest Efficiency
The data from Quater 1 in 2020 to Quater 3 in 2020 includes 3 quarters.

Retained Earning on Assets
Year 2020 Quarter 1: Retained Earning on Assets 11.93 (%).Trend:Decrease 13.17% than previous quarter
Year 2020 Quarter 2: Retained Earning on Assets 11.35 (%).Trend:Decrease 4.86% than previous quarter
Year 2020 Quarter 3: Retained Earning on Assets 13.33 (%).Trend:Increase 17.44% than previous quarter

Overall: increasing (11.74%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2020 Quarter 1: Earning Per Share -0.42 (USD).Trend:Decrease 138.89% than previous quarter
Year 2020 Quarter 2: Earning Per Share -0.31 (USD).Trend:Decrease 26.19% than previous quarter
Year 2020 Quarter 3: Earning Per Share 1.66 (USD).Trend:Decrease 635.48% than previous quarter

Overall: increasing (-495.24%). Fluctuation: **Significant** (high variation).



Q1-Q3 2020 financial statement analysis reveals increasing liabilities on revenue with low variation.  Current assets on revenue also show an overall increase with little fluctuation. The ratio of retained earnings to revenue increased overall with moderate variation, indicating improved cost efficiency. Investment efficiency (retained earnings on assets) is also increasing with little fluctuation.  Earnings per share show a substantial increase from negative values in the first two quarters to a positive value in the third, with high variation.