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 67.79 (%).Trend:Increase 193.21% than previous quarter
Year 2021 Quarter 2: Liabilities on Revenue 29.04 (%).Trend:Decrease 57.16% than previous quarter
Year 2021 Quarter 3: Liabilities on Revenue 20.61 (%).Trend:Decrease 29.03% than previous quarter

Overall: decreasing (-69.6%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2021 Quarter 1: Current assets on Revenue 245.21 (%).Trend:Increase 151.29% than previous quarter
Year 2021 Quarter 2: Current assets on Revenue 82.69 (%).Trend:Decrease 66.28% than previous quarter
Year 2021 Quarter 3: Current assets on Revenue 59.04 (%).Trend:Decrease 28.6% than previous quarter

Overall: decreasing (-75.92%). 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 20.35 (%).Trend:Increase 83.66% than previous quarter
Year 2021 Quarter 2: Ratio of Retained Earnings to Revenue 8.24 (%).Trend:Decrease 59.51% than previous quarter
Year 2021 Quarter 3: Ratio of Retained Earnings to Revenue 9.43 (%).Trend:Increase 14.44% than previous quarter

Overall: decreasing (-53.66%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2021 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 44.66 (%).Trend:Decrease 5.62% than previous quarter
Year 2021 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 42.95 (%).Trend:Decrease 3.83% than previous quarter
Year 2021 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 41.61 (%).Trend:Decrease 3.12% than previous quarter

Overall: decreasing (-6.83%). Fluctuation: **Little** (low 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 2.23 (%).Trend:Decrease 32.42% than previous quarter
Year 2021 Quarter 2: Retained Earning on Assets 2.1 (%).Trend:Decrease 5.83% than previous quarter
Year 2021 Quarter 3: Retained Earning on Assets 3.63 (%).Trend:Increase 72.86% than previous quarter

Overall: increasing (62.78%). Fluctuation: **Significant** (high variation).

Earning Per Share
Year 2021 Quarter 1: Earning Per Share -1.07 (USD).Trend:Increase 0% than previous quarter
Year 2021 Quarter 2: Earning Per Share -1.36 (USD).Trend:Increase 27.1% than previous quarter
Year 2021 Quarter 3: Earning Per Share -0.02 (USD).Trend:Decrease 98.53% than previous quarter

Overall: increasing (-98.13%). Fluctuation: **Significant** (high variation).



Financial analysis of Q1 2021 to Q3 2021 shows considerable volatility in key metrics.  Liabilities and current assets on revenue decreased overall, but with substantial quarter-to-quarter variations. Cost efficiency, measured by retained earnings to revenue, decreased significantly overall, exhibiting substantial volatility. The SG&A expense ratio declined steadily. Investment efficiency showed an upward trend in retained earnings on assets with significant fluctuations. Earnings per share were consistently negative and highly variable.