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 68.7 (%).Trend:Decrease 36.91% than previous quarter
Year 2021 Quarter 1: Liabilities on Revenue 223.51 (%).Trend:Increase 225.34% than previous quarter
Year 2021 Quarter 2: Liabilities on Revenue 101.38 (%).Trend:Decrease 54.64% than previous quarter

Overall: increasing (47.57%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2020 Quarter 3: Current assets on Revenue 38.61 (%).Trend:Decrease 39.86% than previous quarter
Year 2021 Quarter 1: Current assets on Revenue 143.45 (%).Trend:Increase 271.54% than previous quarter
Year 2021 Quarter 2: Current assets on Revenue 62.34 (%).Trend:Decrease 56.54% than previous quarter

Overall: increasing (61.46%). 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 223.56 (%).Trend:Decrease 31.84% than previous quarter
Year 2021 Quarter 1: Ratio of Retained Earnings to Revenue 672.65 (%).Trend:Increase 200.88% than previous quarter
Year 2021 Quarter 2: Ratio of Retained Earnings to Revenue 338.69 (%).Trend:Decrease 49.65% than previous quarter

Overall: increasing (51.5%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2020 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 14.72 (%).Trend:Decrease 3.35% than previous quarter
Year 2021 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 16.5 (%).Trend:Increase 12.09% than previous quarter
Year 2021 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 15.69 (%).Trend:Decrease 4.91% than previous quarter

Overall: increasing (6.59%). Fluctuation: **Little** (low 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 64.14 (%).Trend:Increase 0.14% than previous quarter
Year 2021 Quarter 1: Retained Earning on Assets 62.53 (%).Trend:Decrease 2.51% than previous quarter
Year 2021 Quarter 2: Retained Earning on Assets 64.7 (%).Trend:Increase 3.47% than previous quarter

Overall: increasing (0.87%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2020 Quarter 3: Earning Per Share 3.0 (USD).Trend:Increase 50.0% than previous quarter
Year 2021 Quarter 1: Earning Per Share 1.04 (USD).Trend:Decrease 65.33% than previous quarter
Year 2021 Quarter 2: Earning Per Share 1.99 (USD).Trend:Increase 91.35% than previous quarter

Overall: decreasing (-33.67%). Fluctuation: **Significant** (high variation).



Financial analysis from Q3 2020 to Q2 2021 reveals mixed results, characterized by significant fluctuations. Working capital efficiency, as measured by liabilities and current assets on revenue, showed substantial improvement, though with substantial fluctuations. Cost efficiency, as measured by the retained earnings-to-revenue ratio, increased noticeably with high variation, while SG&A expense showed a slight, steady increase. Investment efficiency, as measured by the retained earnings-to-assets ratio, showed limited improvement with minimal fluctuation. Earnings per share reveal a significant and highly variable downward trend.