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 46.08 (%).Trend:Decrease 38.78% than previous quarter
Year 2021 Quarter 1: Liabilities on Revenue 101.9 (%).Trend:Increase 121.14% than previous quarter
Year 2021 Quarter 2: Liabilities on Revenue 52.18 (%).Trend:Decrease 48.79% than previous quarter

Overall: increasing (13.24%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2020 Quarter 3: Current assets on Revenue 53.87 (%).Trend:Decrease 35.46% than previous quarter
Year 2021 Quarter 1: Current assets on Revenue 156.45 (%).Trend:Increase 190.42% than previous quarter
Year 2021 Quarter 2: Current assets on Revenue 81.35 (%).Trend:Decrease 48.0% than previous quarter

Overall: increasing (51.01%). 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 0.45 (%).Trend:Decrease 116.85% than previous quarter
Year 2021 Quarter 1: Ratio of Retained Earnings to Revenue 8.74 (%).Trend:Increase 1842.22% than previous quarter
Year 2021 Quarter 2: Ratio of Retained Earnings to Revenue 6.28 (%).Trend:Decrease 28.15% than previous quarter

Overall: increasing (1295.56%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2020 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 20.48 (%).Trend:Decrease 8.08% than previous quarter
Year 2021 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 16.77 (%).Trend:Decrease 18.12% than previous quarter
Year 2021 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 15.71 (%).Trend:Decrease 6.32% than previous quarter

Overall: decreasing (-23.29%). Fluctuation: **Neutral** (moderate 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 0.3 (%).Trend:Decrease 126.32% than previous quarter
Year 2021 Quarter 1: Retained Earning on Assets 2.22 (%).Trend:Increase 640.0% than previous quarter
Year 2021 Quarter 2: Retained Earning on Assets 3.19 (%).Trend:Increase 43.69% than previous quarter

Overall: increasing (963.33%). Fluctuation: **Significant** (high variation).

Earning Per Share
Year 2020 Quarter 3: Earning Per Share -0.18 (USD).Trend:Decrease 77.22% than previous quarter
Year 2021 Quarter 1: Earning Per Share 0.34 (USD).Trend:Decrease 288.89% than previous quarter
Year 2021 Quarter 2: Earning Per Share 0.74 (USD).Trend:Increase 117.65% than previous quarter

Overall: increasing (-511.11%). Fluctuation: **Significant** (high variation).



Financial analysis from Q3 2020 to Q2 2021 reveals a complex picture. Working capital efficiency shows significant fluctuations, with liabilities and current assets on revenue increasing in Q1 2021 then decreasing in Q2.  Cost efficiency shows a very significant increase in the ratio of retained earnings to revenue in Q1 2021, and a decrease in the SG&A expense ratio. Investment efficiency indicates substantial growth in retained earnings on assets in Q1 2021, followed by another increase in Q2. Earnings per share also show high fluctuations but a positive trend in Q2. Overall, the data shows variability in performance, with potential for improvement in several areas but needing further analysis.