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 29.52 (%).Trend:Decrease 27.77% than previous quarter
Year 2021 Quarter 1: Liabilities on Revenue 154.0 (%).Trend:Increase 421.68% than previous quarter
Year 2021 Quarter 2: Liabilities on Revenue 73.21 (%).Trend:Decrease 52.46% than previous quarter

Overall: increasing (148.0%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2020 Quarter 3: Current assets on Revenue 39.54 (%).Trend:Decrease 32.38% than previous quarter
Year 2021 Quarter 1: Current assets on Revenue 263.22 (%).Trend:Increase 565.71% than previous quarter
Year 2021 Quarter 2: Current assets on Revenue 115.99 (%).Trend:Decrease 55.93% than previous quarter

Overall: increasing (193.35%). 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 22.58 (%).Trend:Decrease 39.14% than previous quarter
Year 2021 Quarter 1: Ratio of Retained Earnings to Revenue 87.31 (%).Trend:Increase 286.67% than previous quarter
Year 2021 Quarter 2: Ratio of Retained Earnings to Revenue 33.34 (%).Trend:Decrease 61.81% than previous quarter

Overall: increasing (47.65%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2020 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 46.45 (%).Trend:Decrease 2.58% than previous quarter
Year 2021 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 67.7 (%).Trend:Increase 45.75% than previous quarter
Year 2021 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 56.13 (%).Trend:Decrease 17.09% than previous quarter

Overall: increasing (20.84%). Fluctuation: **Neutral** (moderate 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 19.22 (%).Trend:Decrease 7.42% than previous quarter
Year 2021 Quarter 1: Retained Earning on Assets 13.89 (%).Trend:Decrease 27.73% than previous quarter
Year 2021 Quarter 2: Retained Earning on Assets 12.63 (%).Trend:Decrease 9.07% than previous quarter

Overall: decreasing (-34.29%). Fluctuation: **Neutral** (moderate variation).

Earning Per Share
Year 2020 Quarter 3: Earning Per Share 1.0 (USD).Trend:Increase 0% than previous quarter
Year 2021 Quarter 1: Earning Per Share -9.0 (USD).Trend:Decrease 1000.0% than previous quarter
Year 2021 Quarter 2: Earning Per Share -10.0 (USD).Trend:Increase 11.11% than previous quarter

Overall: decreasing (-1100.0%). Fluctuation: **Significant** (high variation).



Financial performance demonstrates significant volatility. Liabilities and current assets on revenue show substantial increases in Q1 2021, followed by declines in subsequent quarters. The ratio of retained earnings to revenue shows a sharp increase in Q1 2021, followed by declines in Q2 and Q3. SG&A expense ratio trends show moderate fluctuations. Investment efficiency, measured by retained earnings on assets, shows a consistent downward trend. Earnings per share (EPS) remain persistently negative, with high volatility across quarters.