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 19.93 (%).Trend:Decrease 36.39% than previous quarter
Year 2020 Quarter 1: Liabilities on Revenue 54.61 (%).Trend:Increase 174.01% than previous quarter
Year 2020 Quarter 2: Liabilities on Revenue 32.94 (%).Trend:Decrease 39.68% than previous quarter

Overall: increasing (65.28%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2019 Quarter 3: Current assets on Revenue 32.02 (%).Trend:Decrease 35.25% than previous quarter
Year 2020 Quarter 1: Current assets on Revenue 83.38 (%).Trend:Increase 160.4% than previous quarter
Year 2020 Quarter 2: Current assets on Revenue 46.08 (%).Trend:Decrease 44.73% than previous quarter

Overall: increasing (43.91%). 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 -55.12 (%).Trend:Decrease 35.08% than previous quarter
Year 2020 Quarter 1: Ratio of Retained Earnings to Revenue -198.75 (%).Trend:Increase 260.58% than previous quarter
Year 2020 Quarter 2: Ratio of Retained Earnings to Revenue -113.25 (%).Trend:Decrease 43.02% than previous quarter

Overall: decreasing (105.46%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2019 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 7.05 (%).Trend:Decrease 11.1% than previous quarter
Year 2020 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 6.8 (%).Trend:Decrease 3.55% than previous quarter
Year 2020 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 7.94 (%).Trend:Increase 16.76% than previous quarter

Overall: increasing (12.62%). 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 -15.23 (%).Trend:Increase 2.01% than previous quarter
Year 2020 Quarter 1: Retained Earning on Assets -18.76 (%).Trend:Increase 23.18% than previous quarter
Year 2020 Quarter 2: Retained Earning on Assets -20.05 (%).Trend:Increase 6.88% than previous quarter

Overall: decreasing (31.65%). Fluctuation: **Significant** (high variation).

Earning Per Share
Year 2019 Quarter 3: Earning Per Share 0.65 (USD).Trend:Increase 85.71% than previous quarter
Year 2020 Quarter 1: Earning Per Share -0.25 (USD).Trend:Decrease 138.46% than previous quarter
Year 2020 Quarter 2: Earning Per Share -0.21 (USD).Trend:Decrease 16.0% than previous quarter

Overall: decreasing (-132.31%). Fluctuation: **Significant** (high variation).



Financial analysis for Q3 2019 to Q2 2020 shows significant volatility. Liabilities and current assets on revenue increased, but with substantial fluctuation. Cost efficiency (ratio of retained earnings to revenue) shows a substantial decrease.  SG&A expense ratio displayed little fluctuation, decreasing slightly. Invest efficiency (retained earnings on assets) and earnings per share saw substantial decreases.