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5.Financial Analysis, including the following: Presentation and interpretation of relevant ratios for the company over the past three years, including analysis of the underlying drivers

5.Financial Analysis, including the following: Presentation and interpretation of relevant ratios for the company over the past three years, including analysis of the underlying drivers of the change in the company's ROE by decomposing ROE. Discussion of thecompany'soperating management. Provide common-sized income statement to decompose Net Profit Margin to evaluate operating management. Provide explanations of the possible cause of sales growth, change in margins and expense ratios. The explanations should be related to thecompany's environment,business operation and strategy. Discussion of the company's asset management. Provide explanations of the possible cause of change in operating working capital and long-term operating asset turnover ratios. The explanations should be related to thecompany'senvironment, business operation and strategy. Discussion of the company's financial management. Provide explanations of the possible cause of change in liquidity and solvency ratios. The explanations should be related to the company'senvironment, business operation and strategy

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