Working Capital Efficiency
The data from Quater 2 in 2020 to Quater 1 in 2021 includes 3 quarters.

Liabilities on Revenue
Year 2020 Quarter 2: Liabilities on Revenue 30.27 (%).Trend:Decrease 43.95% than previous quarter
Year 2020 Quarter 3: Liabilities on Revenue 19.48 (%).Trend:Decrease 35.65% than previous quarter
Year 2021 Quarter 1: Liabilities on Revenue 68.2 (%).Trend:Increase 250.1% than previous quarter

Overall: increasing (125.31%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2020 Quarter 2: Current assets on Revenue 55.16 (%).Trend:Decrease 30.76% than previous quarter
Year 2020 Quarter 3: Current assets on Revenue 29.14 (%).Trend:Decrease 47.17% than previous quarter
Year 2021 Quarter 1: Current assets on Revenue 98.81 (%).Trend:Increase 239.09% than previous quarter

Overall: increasing (79.13%). Fluctuation: **Significant** (high variation).


Cost Efficiency
The data from Quater 2 in 2020 to Quater 1 in 2021 includes 3 quarters.

Ratio of Retained Earnings to Revenue
Year 2020 Quarter 2: Ratio of Retained Earnings to Revenue 23.23 (%).Trend:Decrease 57.01% than previous quarter
Year 2020 Quarter 3: Ratio of Retained Earnings to Revenue 17.01 (%).Trend:Decrease 26.78% than previous quarter
Year 2021 Quarter 1: Ratio of Retained Earnings to Revenue 58.13 (%).Trend:Increase 241.74% than previous quarter

Overall: increasing (150.24%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2020 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 7.62 (%).Trend:Increase 4.53% than previous quarter
Year 2020 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 7.79 (%).Trend:Increase 2.23% than previous quarter
Year 2021 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 8.21 (%).Trend:Increase 5.39% than previous quarter

Overall: increasing (7.74%). Fluctuation: **Little** (low variation).


Invest Efficiency
The data from Quater 2 in 2020 to Quater 1 in 2021 includes 3 quarters.

Retained Earning on Assets
Year 2020 Quarter 2: Retained Earning on Assets 17.71 (%).Trend:Decrease 21.84% than previous quarter
Year 2020 Quarter 3: Retained Earning on Assets 20.88 (%).Trend:Increase 17.9% than previous quarter
Year 2021 Quarter 1: Retained Earning on Assets 22.94 (%).Trend:Increase 9.87% than previous quarter

Overall: increasing (29.53%). Fluctuation: **Neutral** (moderate variation).

Earning Per Share
Year 2020 Quarter 2: Earning Per Share -1.63 (USD).Trend:Decrease 488.1% than previous quarter
Year 2020 Quarter 3: Earning Per Share -0.79 (USD).Trend:Decrease 51.53% than previous quarter
Year 2021 Quarter 1: Earning Per Share 1.11 (USD).Trend:Decrease 240.51% than previous quarter

Overall: increasing (-168.1%). Fluctuation: **Significant** (high variation).



The financial analysis highlights substantial volatility across key financial metrics from Q2 2020 to Q1 2021.  Significant increases in liabilities and current assets on revenue are observed in Q1 2021. Similarly, the ratio of retained earnings to revenue shows a drastic increase in Q1 2021.  In contrast, the Selling, General, and Administrative (SG&A) expense ratio displays a more stable upward trend. Retained earnings on assets show a moderate increase, while earnings per share (EPS) display a dramatic and fluctuating increase from negative to positive values.  These findings indicate substantial changes in financial performance, requiring further investigation into the underlying drivers.