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 38.96 (%).Trend:Decrease 37.81% than previous quarter
Year 2020 Quarter 3: Liabilities on Revenue 31.69 (%).Trend:Decrease 18.66% than previous quarter
Year 2021 Quarter 1: Liabilities on Revenue 92.35 (%).Trend:Increase 191.42% than previous quarter

Overall: increasing (137.04%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2020 Quarter 2: Current assets on Revenue 92.6 (%).Trend:Decrease 38.79% than previous quarter
Year 2020 Quarter 3: Current assets on Revenue 71.97 (%).Trend:Decrease 22.28% than previous quarter
Year 2021 Quarter 1: Current assets on Revenue 189.93 (%).Trend:Increase 163.9% than previous quarter

Overall: increasing (105.11%). 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 87.61 (%).Trend:Decrease 40.56% than previous quarter
Year 2020 Quarter 3: Ratio of Retained Earnings to Revenue 58.81 (%).Trend:Decrease 32.87% than previous quarter
Year 2021 Quarter 1: Ratio of Retained Earnings to Revenue 75.0 (%).Trend:Increase 27.53% than previous quarter

Overall: decreasing (-14.39%). Fluctuation: **Neutral** (moderate variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2020 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 12.67 (%).Trend:Increase 21.71% than previous quarter
Year 2020 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 13.25 (%).Trend:Increase 4.58% than previous quarter
Year 2021 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 7.61 (%).Trend:Decrease 42.57% than previous quarter

Overall: decreasing (-39.94%). Fluctuation: **Significant** (high 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 28.14 (%).Trend:Decrease 2.63% than previous quarter
Year 2020 Quarter 3: Retained Earning on Assets 25.96 (%).Trend:Decrease 7.75% than previous quarter
Year 2021 Quarter 1: Retained Earning on Assets 16.77 (%).Trend:Decrease 35.4% than previous quarter

Overall: decreasing (-40.41%). Fluctuation: **Neutral** (moderate variation).

Earning Per Share
Year 2020 Quarter 2: Earning Per Share 0.85 (USD).Trend:Increase 6.25% than previous quarter
Year 2020 Quarter 3: Earning Per Share 0.78 (USD).Trend:Decrease 8.24% than previous quarter
Year 2021 Quarter 1: Earning Per Share -6.59 (USD).Trend:Decrease 944.87% than previous quarter

Overall: decreasing (-875.29%). Fluctuation: **Significant** (high variation).



Financial analysis from Q2 2020 to Q1 2021 indicates significant fluctuation.  Liabilities on revenue and current assets on revenue both significantly increased, though with a substantial decrease in liabilities in later quarters.  Cost efficiency shows a modest decrease in the retained earnings-to-revenue ratio.  Selling, general, and administrative (SG&A) expense ratio declined significantly.  Investment efficiency demonstrates a continuous decrease in retained earnings on assets. Earnings per share also show a dramatic decline,  with a large drop in Q1 2021.