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 31.53 (%).Trend:Decrease 37.48% than previous quarter
Year 2020 Quarter 3: Liabilities on Revenue 22.03 (%).Trend:Decrease 30.13% than previous quarter
Year 2021 Quarter 1: Liabilities on Revenue 52.86 (%).Trend:Increase 139.95% than previous quarter

Overall: increasing (67.65%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2020 Quarter 2: Current assets on Revenue 39.32 (%).Trend:Decrease 29.86% than previous quarter
Year 2020 Quarter 3: Current assets on Revenue 26.87 (%).Trend:Decrease 31.66% than previous quarter
Year 2021 Quarter 1: Current assets on Revenue 66.67 (%).Trend:Increase 148.12% than previous quarter

Overall: increasing (69.56%). 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 58.6 (%).Trend:Decrease 36.17% than previous quarter
Year 2020 Quarter 3: Ratio of Retained Earnings to Revenue 36.54 (%).Trend:Decrease 37.65% than previous quarter
Year 2021 Quarter 1: Ratio of Retained Earnings to Revenue 71.43 (%).Trend:Increase 95.48% than previous quarter

Overall: increasing (21.89%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2020 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 2.29 (%).Trend:Increase 49.67% than previous quarter
Year 2020 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 2.33 (%).Trend:Increase 1.75% than previous quarter
Year 2021 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 1.89 (%).Trend:Decrease 18.88% than previous quarter

Overall: decreasing (-17.47%). Fluctuation: **Neutral** (moderate 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 34.17 (%).Trend:Decrease 4.69% than previous quarter
Year 2020 Quarter 3: Retained Earning on Assets 32.12 (%).Trend:Decrease 6.0% than previous quarter
Year 2021 Quarter 1: Retained Earning on Assets 27.84 (%).Trend:Decrease 13.33% than previous quarter

Overall: decreasing (-18.53%). Fluctuation: **Neutral** (moderate variation).

Earning Per Share
Year 2020 Quarter 2: Earning Per Share -6.0 (USD).Trend:Increase 6.01% than previous quarter
Year 2020 Quarter 3: Earning Per Share -7.83 (USD).Trend:Increase 30.5% than previous quarter
Year 2021 Quarter 1: Earning Per Share -1.49 (USD).Trend:Decrease 80.97% than previous quarter

Overall: increasing (-75.17%). Fluctuation: **Significant** (high variation).



Financial statements for Q2 2020 to Q1 2021 show a mixed picture.  Working capital efficiency is increasing, with liabilities on revenue rising to 52.86% in Q1 2021 and current assets also increasing to 66.67% in Q1 2021.  Cost efficiency, as measured by the ratio of retained earnings to revenue, is increasing overall, but fluctuating significantly. SG&A expense ratio is decreasing slightly. Invest efficiency shows a slightly decreasing trend in retained earnings on assets. Earning per share demonstrates a sizable overall increase, though fluctuating significantly.