The goal in the game is to collect all hearts in every stage, and when that is done, get the ball in the chest to open the door to the next room.
Although Lolo is a puzzle game, it is surprisingly nontrivial for speedrunning, as proven by the fact that this is the author's ninth version.
This one is about 2 seconds faster than the previous due to various optimizations. You can read the full list in the submission message.