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 20.98 (%).Trend:Decrease 17.21% than previous quarter
Year 2021 Quarter 1: Liabilities on Revenue 92.17 (%).Trend:Increase 339.32% than previous quarter
Year 2021 Quarter 2: Liabilities on Revenue 45.64 (%).Trend:Decrease 50.48% than previous quarter

Overall: increasing (117.54%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2020 Quarter 3: Current assets on Revenue 19.75 (%).Trend:Decrease 17.98% than previous quarter
Year 2021 Quarter 1: Current assets on Revenue 97.65 (%).Trend:Increase 394.43% than previous quarter
Year 2021 Quarter 2: Current assets on Revenue 57.42 (%).Trend:Decrease 41.2% than previous quarter

Overall: increasing (190.73%). 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 -10.05 (%).Trend:Decrease 2.43% than previous quarter
Year 2021 Quarter 1: Ratio of Retained Earnings to Revenue -60.05 (%).Trend:Increase 497.51% than previous quarter
Year 2021 Quarter 2: Ratio of Retained Earnings to Revenue -32.39 (%).Trend:Decrease 46.06% than previous quarter

Overall: decreasing (222.29%). Fluctuation: **Significant** (high variation).

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

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 -6.09 (%).Trend:Increase 31.25% than previous quarter
Year 2021 Quarter 1: Retained Earning on Assets -9.77 (%).Trend:Increase 60.43% than previous quarter
Year 2021 Quarter 2: Retained Earning on Assets -11.42 (%).Trend:Increase 16.89% than previous quarter

Overall: decreasing (87.52%). Fluctuation: **Significant** (high variation).

Earning Per Share
Year 2020 Quarter 3: Earning Per Share -0.77 (USD).Trend:Increase 92.5% than previous quarter
Year 2021 Quarter 1: Earning Per Share -0.54 (USD).Trend:Decrease 29.87% than previous quarter
Year 2021 Quarter 2: Earning Per Share -1.13 (USD).Trend:Increase 109.26% than previous quarter

Overall: decreasing (46.75%). Fluctuation: **Significant** (high variation).



Financial analysis of Q3 2020 to Q2 2021 reveals significant fluctuations in working capital efficiency metrics. Liabilities on revenue saw a substantial increase (117.54%), followed by a decrease, and current assets on revenue showed a similar pattern (190.73%).  Cost efficiency, measured by the ratio of retained earnings to revenue, experienced a substantial decrease (222.29%). Investment efficiency, gauged by retained earnings on assets, also showed a decline (87.52%).  Earnings per share decreased over the period (46.75%).  The data indicates high volatility across all analyzed metrics.