Working Capital Efficiency
The data from Quater 3 in 2019 to Quater 1 in 2021 includes 3 quarters.

Liabilities on Revenue
Year 2019 Quarter 3: Liabilities on Revenue 38.86 (%).Trend:Decrease 34.93% than previous quarter
Year 2020 Quarter 3: Liabilities on Revenue 41.29 (%).Trend:Increase 6.25% than previous quarter
Year 2021 Quarter 1: Liabilities on Revenue 98.66 (%).Trend:Increase 138.94% than previous quarter

Overall: increasing (153.89%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2019 Quarter 3: Current assets on Revenue 25.54 (%).Trend:Decrease 30.56% than previous quarter
Year 2020 Quarter 3: Current assets on Revenue 40.5 (%).Trend:Increase 58.57% than previous quarter
Year 2021 Quarter 1: Current assets on Revenue 95.04 (%).Trend:Increase 134.67% than previous quarter

Overall: increasing (272.12%). Fluctuation: **Significant** (high variation).


Cost Efficiency
The data from Quater 3 in 2019 to Quater 1 in 2021 includes 3 quarters.

Ratio of Retained Earnings to Revenue
Year 2019 Quarter 3: Ratio of Retained Earnings to Revenue -28.94 (%).Trend:Decrease 38.93% than previous quarter
Year 2020 Quarter 3: Ratio of Retained Earnings to Revenue -13.7 (%).Trend:Decrease 52.66% than previous quarter
Year 2021 Quarter 1: Ratio of Retained Earnings to Revenue -24.81 (%).Trend:Increase 81.09% than previous quarter

Overall: increasing (-14.27%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2019 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 31.65 (%).Trend:Decrease 0.06% than previous quarter
Year 2020 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 29.48 (%).Trend:Decrease 6.86% than previous quarter
Year 2021 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 24.32 (%).Trend:Decrease 17.5% than previous quarter

Overall: decreasing (-23.16%). Fluctuation: **Neutral** (moderate variation).


Invest Efficiency
The data from Quater 3 in 2019 to Quater 1 in 2021 includes 3 quarters.

Retained Earning on Assets
Year 2019 Quarter 3: Retained Earning on Assets -11.13 (%).Trend:Decrease 9.73% than previous quarter
Year 2020 Quarter 3: Retained Earning on Assets -3.42 (%).Trend:Decrease 69.27% than previous quarter
Year 2021 Quarter 1: Retained Earning on Assets -2.41 (%).Trend:Decrease 29.53% than previous quarter

Overall: increasing (-78.35%). Fluctuation: **Significant** (high variation).

Earning Per Share
Year 2019 Quarter 3: Earning Per Share 3.18 (USD).Trend:Increase 47.22% than previous quarter
Year 2020 Quarter 3: Earning Per Share 2.08 (USD).Trend:Decrease 34.59% than previous quarter
Year 2021 Quarter 1: Earning Per Share 0.75 (USD).Trend:Decrease 63.94% than previous quarter

Overall: decreasing (-76.42%). Fluctuation: **Significant** (high variation).



Financial performance from Q3 2019 to Q1 2021 shows a general increase in working capital efficiency, with notable fluctuations in liabilities and current assets on revenue.  Cost efficiency shows a decreasing trend in the SG&A expense ratio.  However, the ratio of retained earnings to revenue and investment efficiency show significant volatility and an overall increasing (negative) trend.  Earnings per share have declined significantly across the period.  The data highlight significant fluctuations and the need for strategic adjustments.