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 23.5 (%).Trend:Decrease 32.95% than previous quarter
Year 2020 Quarter 1: Liabilities on Revenue 72.26 (%).Trend:Increase 207.49% than previous quarter
Year 2020 Quarter 2: Liabilities on Revenue 37.81 (%).Trend:Decrease 47.68% than previous quarter

Overall: increasing (60.89%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2019 Quarter 3: Current assets on Revenue 27.59 (%).Trend:Decrease 34.07% than previous quarter
Year 2020 Quarter 1: Current assets on Revenue 87.78 (%).Trend:Increase 218.16% than previous quarter
Year 2020 Quarter 2: Current assets on Revenue 48.08 (%).Trend:Decrease 45.23% than previous quarter

Overall: increasing (74.27%). 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 15.15 (%).Trend:Decrease 30.28% than previous quarter
Year 2020 Quarter 1: Ratio of Retained Earnings to Revenue 44.35 (%).Trend:Increase 192.74% than previous quarter
Year 2020 Quarter 2: Ratio of Retained Earnings to Revenue 26.17 (%).Trend:Decrease 40.99% than previous quarter

Overall: increasing (72.74%). Fluctuation: **Significant** (high variation).

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

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 38.0 (%).Trend:Increase 4.89% than previous quarter
Year 2020 Quarter 1: Retained Earning on Assets 35.82 (%).Trend:Decrease 5.74% than previous quarter
Year 2020 Quarter 2: Retained Earning on Assets 38.32 (%).Trend:Increase 6.98% than previous quarter

Overall: increasing (0.84%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2019 Quarter 3: Earning Per Share 3.0 (USD).Trend:Increase 50.0% than previous quarter
Year 2020 Quarter 1: Earning Per Share 1.0 (USD).Trend:Decrease 66.67% than previous quarter
Year 2020 Quarter 2: Earning Per Share 2.0 (USD).Trend:Increase 100.0% than previous quarter

Overall: decreasing (-33.33%). Fluctuation: **Significant** (high variation).



Analysis of Q3 2019 to Q2 2020 reveals significant fluctuations in working capital metrics. Liabilities on revenue show a large increase in Q1 2020 followed by a considerable decrease in Q2 2020.  Current assets on revenue exhibit a similar pattern of large increases and decreases.  The ratio of retained earnings to revenue also demonstrates significant volatility, increasing significantly in Q1 2020 and then decreasing in Q2 2020. Investment efficiency (retained earnings on assets) is more stable with a slight overall increase. Earnings per share, however, show significant volatility, increasing in Q3 2019 and decreasing in Q1 2020 before increasing in Q2 2020.