Working Capital Efficiency
The data from Quater 1 in 2021 to Quater 3 in 2021 includes 3 quarters.

Liabilities on Revenue
Year 2021 Quarter 1: Liabilities on Revenue 179.04 (%).Trend:Increase 266.58% than previous quarter
Year 2021 Quarter 2: Liabilities on Revenue 128.47 (%).Trend:Decrease 28.25% than previous quarter
Year 2021 Quarter 3: Liabilities on Revenue 85.07 (%).Trend:Decrease 33.78% than previous quarter

Overall: decreasing (-52.49%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2021 Quarter 1: Current assets on Revenue 664.2 (%).Trend:Increase 238.98% than previous quarter
Year 2021 Quarter 2: Current assets on Revenue 389.5 (%).Trend:Decrease 41.36% than previous quarter
Year 2021 Quarter 3: Current assets on Revenue 248.09 (%).Trend:Decrease 36.31% than previous quarter

Overall: decreasing (-62.65%). Fluctuation: **Significant** (high variation).


Cost Efficiency
The data from Quater 1 in 2021 to Quater 3 in 2021 includes 3 quarters.

Ratio of Retained Earnings to Revenue
Year 2021 Quarter 1: Ratio of Retained Earnings to Revenue 24.63 (%).Trend:Increase 37.83% than previous quarter
Year 2021 Quarter 2: Ratio of Retained Earnings to Revenue -16.05 (%).Trend:Decrease 165.16% than previous quarter
Year 2021 Quarter 3: Ratio of Retained Earnings to Revenue -34.49 (%).Trend:Increase 114.89% than previous quarter

Overall: decreasing (-240.03%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2021 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 30.92 (%).Trend:Increase 95.45% than previous quarter
Year 2021 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 28.4 (%).Trend:Decrease 8.15% than previous quarter
Year 2021 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 43.27 (%).Trend:Increase 52.36% than previous quarter

Overall: increasing (39.94%). Fluctuation: **Neutral** (moderate variation).


Invest Efficiency
The data from Quater 1 in 2021 to Quater 3 in 2021 includes 3 quarters.

Retained Earning on Assets
Year 2021 Quarter 1: Retained Earning on Assets 2.11 (%).Trend:Decrease 56.94% than previous quarter
Year 2021 Quarter 2: Retained Earning on Assets -2.39 (%).Trend:Decrease 213.27% than previous quarter
Year 2021 Quarter 3: Retained Earning on Assets -8.13 (%).Trend:Increase 240.17% than previous quarter

Overall: decreasing (-485.31%). Fluctuation: **Significant** (high variation).

Earning Per Share
Year 2021 Quarter 1: Earning Per Share -0.27 (USD).Trend:Decrease 87.14% than previous quarter
Year 2021 Quarter 2: Earning Per Share -1.02 (USD).Trend:Increase 277.78% than previous quarter
Year 2021 Quarter 3: Earning Per Share -1.9 (USD).Trend:Increase 86.27% than previous quarter

Overall: decreasing (603.7%). Fluctuation: **Significant** (high variation).



Financial analysis for Q1 2021 to Q3 2021 reveals significant volatility across financial metrics. Liabilities and current assets on revenue are declining with large fluctuations. The ratio of retained earnings to revenue is decreasing substantially, potentially indicating profitability concerns. SG&A expense ratio is increasing but with moderate fluctuation. Investment efficiency, measured by retained earnings on assets and earnings per share, shows substantial negative trends with large variations.