Working Capital Efficiency
The data from Quater 3 in 2020 to Quater 2 in 2021 includes 3 quarters.

Liabilities on Revenue
Year 2020 Quarter 3: Liabilities on Revenue 72.32 (%).Trend:Decrease 38.31% than previous quarter
Year 2021 Quarter 1: Liabilities on Revenue 155.0 (%).Trend:Increase 114.33% than previous quarter
Year 2021 Quarter 2: Liabilities on Revenue 80.16 (%).Trend:Decrease 48.28% than previous quarter

Overall: increasing (10.84%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2020 Quarter 3: Current assets on Revenue 118.23 (%).Trend:Decrease 19.31% than previous quarter
Year 2021 Quarter 1: Current assets on Revenue 257.4 (%).Trend:Increase 117.71% than previous quarter
Year 2021 Quarter 2: Current assets on Revenue 120.91 (%).Trend:Decrease 53.03% than previous quarter

Overall: increasing (2.27%). Fluctuation: **Significant** (high variation).


Cost Efficiency
The data from Quater 3 in 2020 to Quater 2 in 2021 includes 3 quarters.

Ratio of Retained Earnings to Revenue
Year 2020 Quarter 3: Ratio of Retained Earnings to Revenue -30.82 (%).Trend:Decrease 46.23% than previous quarter
Year 2021 Quarter 1: Ratio of Retained Earnings to Revenue -49.49 (%).Trend:Increase 60.58% than previous quarter
Year 2021 Quarter 2: Ratio of Retained Earnings to Revenue -17.67 (%).Trend:Decrease 64.3% than previous quarter

Overall: increasing (-42.67%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2020 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 11.83 (%).Trend:Decrease 3.9% than previous quarter
Year 2021 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 11.0 (%).Trend:Decrease 7.02% than previous quarter
Year 2021 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 9.93 (%).Trend:Decrease 9.73% than previous quarter

Overall: decreasing (-16.06%). Fluctuation: **Little** (low variation).


Invest Efficiency
The data from Quater 3 in 2020 to Quater 2 in 2021 includes 3 quarters.

Retained Earning on Assets
Year 2020 Quarter 3: Retained Earning on Assets -12.41 (%).Trend:Decrease 21.11% than previous quarter
Year 2021 Quarter 1: Retained Earning on Assets -8.97 (%).Trend:Decrease 27.72% than previous quarter
Year 2021 Quarter 2: Retained Earning on Assets -6.54 (%).Trend:Decrease 27.09% than previous quarter

Overall: increasing (-47.3%). Fluctuation: **Significant** (high variation).

Earning Per Share


Analysis of Q3 2020-Q2 2021 data reveals substantial volatility across key metrics. While liabilities on revenue and current assets on revenue show overall increases (10.84% and 2.27%, respectively), significant quarter-to-quarter fluctuations are observed. Cost efficiency is mixed: SG&A expenses decreased, but retained earnings to revenue, though improving overall, remain deeply negative.  Investment efficiency (retained earnings on assets) shows overall improvement but continues to be negative.  The data indicates high risk and instability.