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 99.5 (%).Trend:Increase 155.78% than previous quarter
Year 2021 Quarter 2: Liabilities on Revenue 48.49 (%).Trend:Decrease 51.27% than previous quarter
Year 2021 Quarter 3: Liabilities on Revenue 34.06 (%).Trend:Decrease 29.76% than previous quarter

Overall: decreasing (-65.77%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2021 Quarter 1: Current assets on Revenue 204.32 (%).Trend:Increase 152.9% than previous quarter
Year 2021 Quarter 2: Current assets on Revenue 109.35 (%).Trend:Decrease 46.48% than previous quarter
Year 2021 Quarter 3: Current assets on Revenue 50.58 (%).Trend:Decrease 53.74% than previous quarter

Overall: decreasing (-75.24%). 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 418.05 (%).Trend:Increase 148.77% than previous quarter
Year 2021 Quarter 2: Ratio of Retained Earnings to Revenue 215.0 (%).Trend:Decrease 48.57% than previous quarter
Year 2021 Quarter 3: Ratio of Retained Earnings to Revenue 146.59 (%).Trend:Decrease 31.82% than previous quarter

Overall: decreasing (-64.93%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2021 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 27.35 (%).Trend:Decrease 14.05% than previous quarter
Year 2021 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 27.29 (%).Trend:Decrease 0.22% than previous quarter
Year 2021 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 27.71 (%).Trend:Increase 1.54% than previous quarter

Overall: increasing (1.32%). Fluctuation: **Little** (low 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 38.01 (%).Trend:Increase 6.2% than previous quarter
Year 2021 Quarter 2: Retained Earning on Assets 38.79 (%).Trend:Increase 2.05% than previous quarter
Year 2021 Quarter 3: Retained Earning on Assets 37.86 (%).Trend:Decrease 2.4% than previous quarter

Overall: decreasing (-0.39%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2021 Quarter 1: Earning Per Share 2.33 (USD).Trend:Decrease 22.33% than previous quarter
Year 2021 Quarter 2: Earning Per Share 4.77 (USD).Trend:Increase 104.72% than previous quarter
Year 2021 Quarter 3: Earning Per Share 6.33 (USD).Trend:Increase 32.7% than previous quarter

Overall: increasing (171.67%). Fluctuation: **Significant** (high variation).



Across Q1 2021 to Q3 2021, a substantial drop in key working capital efficiency ratios is evident—liabilities and current assets on revenue decreased considerably with high variation. Cost efficiency metrics such as the ratio of retained earnings to revenue also fell significantly. While SG&A expenses slightly increased, retained earnings on assets showed only minimal change.  However, earnings per share experienced a marked increase.