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 134.38 (%).Trend:Increase 398.63% than previous quarter
Year 2021 Quarter 2: Liabilities on Revenue 69.16 (%).Trend:Decrease 48.53% than previous quarter
Year 2021 Quarter 3: Liabilities on Revenue 40.65 (%).Trend:Decrease 41.22% than previous quarter

Overall: decreasing (-69.75%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2021 Quarter 1: Current assets on Revenue 635.14 (%).Trend:Increase 568.99% than previous quarter
Year 2021 Quarter 2: Current assets on Revenue 274.05 (%).Trend:Decrease 56.85% than previous quarter
Year 2021 Quarter 3: Current assets on Revenue 143.75 (%).Trend:Decrease 47.55% than previous quarter

Overall: decreasing (-77.37%). 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 438.5 (%).Trend:Increase 389.78% than previous quarter
Year 2021 Quarter 2: Ratio of Retained Earnings to Revenue 188.91 (%).Trend:Decrease 56.92% than previous quarter
Year 2021 Quarter 3: Ratio of Retained Earnings to Revenue 95.62 (%).Trend:Decrease 49.38% than previous quarter

Overall: decreasing (-78.19%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2021 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 83.45 (%).Trend:Increase 78.89% than previous quarter
Year 2021 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 71.05 (%).Trend:Decrease 14.86% than previous quarter
Year 2021 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 55.41 (%).Trend:Decrease 22.01% than previous quarter

Overall: decreasing (-33.6%). 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 43.77 (%).Trend:Decrease 16.88% than previous quarter
Year 2021 Quarter 2: Retained Earning on Assets 43.97 (%).Trend:Increase 0.46% than previous quarter
Year 2021 Quarter 3: Retained Earning on Assets 44.7 (%).Trend:Increase 1.66% than previous quarter

Overall: increasing (2.12%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2021 Quarter 1: Earning Per Share -6.0 (USD).Trend:Decrease 700.0% than previous quarter
Year 2021 Quarter 2: Earning Per Share -6.0 (USD).Trend:Increase 0.0% than previous quarter
Year 2021 Quarter 3: Earning Per Share -6.0 (USD).Trend:Increase 0.0% than previous quarter

Overall: stable (-0.0%). Fluctuation: **Significant** (high variation).



Analysis of Q1 2021 to Q3 2021 financial performance reveals a mixed picture.  Working capital efficiency, measured by liabilities and current assets on revenue, declined significantly.  Cost efficiency ratios, such as the ratio of retained earnings to revenue and SG&A, are also declining, suggesting potential issues in profitability.  Investment efficiency shows a modest increase in retained earnings on assets, while earnings per share remain stable but negative.  The mixed performance indicates challenges in managing working capital, cost, and investment while maintaining profitability.